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Upside potential


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#1 CLK

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Posted 09 August 2018 - 03:12 PM

The average gain for a strong bull market is around 40-50 points on a monthly basis.

We started August at 2810, 2860 is the expected top then on month close, we already got that

so the top is in on a closing basis. It could hit 2880 before dropping back to 2860 later. So there

is your range, good luck buy and hold.

 

 



#2 CLK

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Posted 10 August 2018 - 09:03 AM

My hourly system is on a sell now.



#3 CLK

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Posted 10 August 2018 - 09:30 AM

Current monthly ATR is 119 points, 2860 -119 is around 2740, round that off to 2760 since the top could be 20 points higher later.



#4 CLK

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Posted 12 August 2018 - 07:04 AM

I think with the Dow and NYA divergent with the new highs in Nasdaq, this could get real ugly quick over the next couple of months.

Also MACD for NYAD is about to go negative.

 


Edited by CLK, 12 August 2018 - 07:06 AM.


#5 CLK

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Posted 12 August 2018 - 07:30 AM

RUT looks corrective on this rally, could fall apart next week.

 


Edited by CLK, 12 August 2018 - 07:30 AM.


#6 CLK

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Posted 13 August 2018 - 06:51 AM

I'm not covering this gap down, we already rallied 10 points, I'll wait for that retest or more. Really 2790 should get tested today.



#7 CLK

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Posted 13 August 2018 - 08:40 AM

Looks like they wanted to fill the futures gap, done and promptly rejected.


Edited by CLK, 13 August 2018 - 08:41 AM.


#8 CLK

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Posted 13 August 2018 - 10:16 AM

I think the stock market chops too much to make much money these days, it's all about protecting the Nov. vote, every dip will be defended.

Starting to look for commodities or foreign markets, this is just getting ridiculous, I just don't have the patience for back fills on every dip that might actually turn into another rally. Need to look for something that trends better. This is even the season for a correction but gets no traction, yeah I think it really is all about the elections.


Edited by CLK, 13 August 2018 - 10:16 AM.


#9 CLK

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Posted 13 August 2018 - 10:28 AM

Done. Shorted EEM out to OCT. 19.  Shorting the most defended market on earth is tough.

 

 



#10 CLK

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Posted 13 August 2018 - 12:07 PM

The problem with this board is that there are a lot of lurkers and few posters, and of the few that post

there are not enough posts during the day. C'mon there are trades and decisions being made, why not

post them ? It helps to know when to fade as well, nothing wrong, like my earlier post, that was the top

although I still stand by my statement. I thought this was traders talk, not lurker board.