Member
Posted 23 August 2018 - 06:33 AM
Slow, grinding, choppy, typical late August markets but the trend is still UP.
Looking for another attempt to close above the previous SPX record high. What happens then will determine the market direction for the next week or so.
My crash window is still cracked open. This means there is a high probability for sustained and deep market declines during the next 4 to 6 weeks.
IT entry buy stop @ SPX 2870, IT sell entry stop @ 2848 (daily SPX close)
Member
Posted 23 August 2018 - 08:15 AM
next Tuesday is 8/28, bradley date.
Member
Member
Posted 23 August 2018 - 10:08 AM
Reading stuff... while waiting on better market action; SPX is now in no man's land, need to see a decisive breakout, up or down.
Bottom Line: In recent years, the Fed has tended to choose recession over the risk of higher inflation, with the result being recessions in 2001 and again in 2007-09 while inflation remains locked down to the point it drifted persistent below the Fed’s target in recent years. Powell’s relative dovishness on inflation – he is more concerned that inflation expectations may have drifted downward than that they are poised to shift higher – may turn out to be the key insight that allows the Fed to navigate the economy through the coming policy danger zone. But beware that the Fed often just can’t stop itself from hiking until the data turn (too much backcasting and too little forecasting), which will most likely be too late to stave off recession.
https://blogs.uorego...he-danger-zone/
Member
Posted 23 August 2018 - 01:54 PM
I may have to close that CRASH WINDOW because....
How seriously should people take Donald Trump’s claim that stocks would crash if he were kicked out of office? As you mull over an answer, consider what someone in the other party would say.
https://www.bloomber...ens-of-earnings
Edited by dTraderB, 23 August 2018 - 01:55 PM.
Member
Posted 23 August 2018 - 01:54 PM
I see this market is setting up for another flash crash to test the SPX 2800 - 2810 region again within a few days............
Edited by redfoliage2, 23 August 2018 - 01:57 PM.
Member
Posted 23 August 2018 - 01:57 PM
I am not trading if the SPX is in this range: lower than 2870 and higher than 2855
Will wait until it breaks out, up or down.
Have been trading wiggles for most of today
Member
Posted 23 August 2018 - 09:59 PM
Clinton was impeached on charges of perjury and obstruction of justice.....with a republican controlled Senate. The odds something like this against Trump are basically zero, unless they can find something he did after taking the oath of office. The guys going after Trump are not close to being smart enough......they're on picnics out in left field. In the meantime, this market is definitely allergic to a gold/silver ratio above 80......all the crap comes out of the woodwork like it did today. Alot of internal stuff on the NDX looks like crap, and it's not going anywhere in that configuration. Normal for a mid term election year in August.....
Member
Posted 23 August 2018 - 10:11 PM
The Fed only seems to act like they're psychotic......I've read more than once the the real economy is flat on its butt, zero growth, once you remove the deficit spending by the US govt from the GDP calculation. GDP is about 20 trillion annualized, and the current 12 month increase in the national debt is around 1.2 trillion. If it's really this easy, just run the deficit spending up to a gazillion, the GDP numbers will go ballistic.
