Member
Posted 03 August 2018 - 08:06 AM
IT SELL, daily SPX stop @ 2832.8
ST BUY, daily SPX stop @ 2815.6
Of course, the market can continue in this aimless mode, drifting all over the place within a tight rage, but it never remains in that ode for more than a few weeks. Expect a big move, up or down, soon.
If you haven't looked at the CRUDE markets recently, you should. Really good action, trending, big ranges, could be quite profitable.
Member
Posted 03 August 2018 - 08:52 AM
We should see a hard down move early next week.................
Edited by redfoliage2, 03 August 2018 - 08:53 AM.
Member
Posted 03 August 2018 - 09:43 AM
Will buy VXX with a 29 or lower handle
Member
Posted 03 August 2018 - 10:02 AM
We should see a hard down move early next week.................
Zzzzzzzz.....
Fib
Better to ignore me than abhor me.
“Wise men don't need advice. Fools won't take it” - Benjamin Franklin
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Posted 03 August 2018 - 10:20 AM
Quite possible the markets will move real big next week, and it has nothing to do with TA or FA etc, but with this:
I will be away on vacation so the market will punish me.
It's ok, I will be back for the September to December season when trading is at its very best.
Member
Posted 03 August 2018 - 12:40 PM
Just saying that an overvalued market could rise and rise ... for a long time! This is similar to overbought and oversols that are the most hyped and least useful indicators! Markets can and do go up for weeks months while overbought and can decline for weeks or months while oversold!
But, Carl's warning should be heeded:
Fundamentals: Market Still Extremely OvervaluedAugust 03, 2018 at 01:20 PM
CONCLUSION: The S&P 500 is well above the normal value range and is extremely overvalued. Historically, overvalued conditions leave the market vulnerable for a large correction or bear market. The current conditions are not a signal for immediate action, rather, it is part of the context in which we should view the market during the process of making decisions. In short, valuations are working against us.
https://stockcharts....overvalued.html
Member
Posted 03 August 2018 - 05:39 PM
IT SELL, daily SPX stop @ 2832.8
ST BUY, daily SPX stop @ 2815.6
So now both your ST and IT are on a buy.
Member
Posted 03 August 2018 - 07:34 PM
I sat thru an improbable diamond shaped pattern on the TQQQ 5 min.....haven't seen that in a long time. Looking like a continuation pattern higher, with an open gap on the 60 min chart above the 67 level. Watching the diamond form, it must have been Beavis and Butthead day at the exchange. It kept going.....I thought there's no way this keeps going like this....
Member
Posted 04 August 2018 - 07:23 AM
We should see a hard down move early next week.................
Zzzzzzzz.....
Fib
