Member
Posted 30 July 2018 - 06:08 PM
From the link:
Most likely he Nasdaq Composite Index has gone down too far too fast (see chart below). Focus on the chart and note that each time the blue histogram pierces the green lines, what happens next is a bounce, sometimes a substantial bounce. That is my most compelling technical case for timing a bounce for tomorrow. Also note if there is a bounce, it will likely not be a bottom. Bottoms and subsequent rallies come after retests.
"If you've heard this story before, don't stop me because I'd like to hear it again," Groucho Marx (on market history?).
“I've learned in options trading simple is best and the obvious is often the most elusive to recognize.”
"The god of trading rewards persistence, experience and discipline, and absolutely nothing else."
Volume Dynamics Specialist
Posted 30 July 2018 - 07:54 PM
Closing Tick - 817.00
Sure to produce a strong bounce (automatic rally), even if we pullback further early tomorrow.
Member
Posted 30 July 2018 - 08:03 PM
I hope so, not looking like the normal oversold condition.
Member
Posted 31 July 2018 - 08:05 AM
Not looking very bullish.
Volume Dynamics Specialist
Posted 31 July 2018 - 08:29 AM
BOOOOMMMM
FUTURES ARE ON FIRE...
What's the news?
Member
Posted 31 July 2018 - 08:36 AM
They save the news for the open, lol.
China in renewed talks with US over trade war.
Edited by CLK, 31 July 2018 - 08:38 AM.
Volume Dynamics Specialist
Posted 31 July 2018 - 08:44 AM
Great to have the signals you need in your tool box...
That hysterical closing tick signal seems to work every time...
Member
Posted 31 July 2018 - 08:58 AM
Closed calls off highs, added heavy to short, now hedged on the retrace at 2811.
Volume Dynamics Specialist
Posted 31 July 2018 - 09:20 AM
Although the overall direction is down into mid-month as I see it... we allowed for this monthly turn here in our forecast... that's the thing about it, markets don't go straight down (for long) without these bounces... most bears are going to get stopped out on these hysterical bounces...
Member
Posted 31 July 2018 - 10:43 AM
Although the overall direction is down into mid-month as I see it... we allowed for this monthly turn here in our forecast... that's the thing about it, markets don't go straight down (for long) without these bounces... most bears are going to get stopped out on these hysterical bounces...
Agree, low tick usually works, would have been worse without the news. Maybe AAPL brings follow through but
right now the ES hourly divergence is still there.
Edited by CLK, 31 July 2018 - 10:44 AM.
