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SPX ST BUY, stop 2819


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#1 dTraderB

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Posted 27 July 2018 - 07:16 AM

ST momentum is still up, choppy, but maintaining the rally, stop & go, even with the FB debacle. 

 

But, we have been in this range for some time and the market will break out  - above SPX 2840 or below 2800. 

 

I still believe an IT SPX top is being formed and will be put in place unless there is a new SPX high within a few days. 

 

Still partly short.



#2 dTraderB

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Posted 27 July 2018 - 07:20 AM

The S&P 500 hasn't hit an all-time high in six months.

But J.P. Morgan Private Bank's Stephen Parker believes that could be about to change.

"I do think we break out to new records," the bank's head of thematic equity solutions said Wednesday on CNBC's "Trading Nation." "To us, it’s all about earnings."

 

Parker acknowledges rising interest rates and the trade war are downside risks, but he contends they haven't significantly materialized in the latest round of earnings outlooks.

"When you look broadly around the trade issue, companies haven’t really talked about it being a major headwind to their fundamental outlook. Clearly, the rise in uncertainty is not a great thing," he said. "But companies are still guiding towards continued strength, continued growth."

https://www.cnbc.com...-territory.html

 



#3 dTraderB

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Posted 27 July 2018 - 07:23 AM

Three obscure charts are pointing to weakness for stocks

Capture.1532552144976.JPG

20825825_TN_DIGITAL_CHART_LINE_Narrowing

https://www.cnbc.com...for-stocks.html



#4 dTraderB

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Posted 27 July 2018 - 07:38 AM

Memories of 2000 and 2008, mostly good but some really bad trades! 

The NASDAQ carnage in 2000 was amazing

 

105356280-1532636181676fb.1910x1000.jpg



#5 12SPX

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Posted 27 July 2018 - 07:46 AM

Love the charts, easy on my old eyes lol!!!



#6 dTraderB

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Posted 27 July 2018 - 08:15 AM

UGLY charts! 

 

Just cut & paste.... easy for a lazy man

 

..The time of maximum pessimism is the best time to buy and the time of maximum optimism is the best time to sell”..

John Templeton



#7 K Wave

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Posted 27 July 2018 - 09:02 AM

Watch 7400 NQ...IF that goes, gonna get ugly in a hurry.

 

Got off the short as predicted after AMZN at 7450 this AM as it started to roll.

 

Let's see if this fearless forecast works out!

 

Back above 7450 now would mean something very wrong with the prediction....


The strength of Government lies in the people's ignorance, and the Government knows this, and will therefore always oppose true enlightenment. - Leo Tolstoy

 

 


#8 K Wave

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Posted 27 July 2018 - 09:04 AM

First test of 7400....moment of truth dead ahead....


The strength of Government lies in the people's ignorance, and the Government knows this, and will therefore always oppose true enlightenment. - Leo Tolstoy

 

 


#9 K Wave

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Posted 27 July 2018 - 09:30 AM

Test number 3 on 7400...likely moment of truth right here....


The strength of Government lies in the people's ignorance, and the Government knows this, and will therefore always oppose true enlightenment. - Leo Tolstoy

 

 


#10 redfoliage2

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Posted 27 July 2018 - 09:43 AM

This is the last time for 7400 before it tests 7000............


Edited by redfoliage2, 27 July 2018 - 09:45 AM.