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ST short, IT flat -- last chance for SPX 3000 in 2018?


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#1 dTraderB

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Posted 26 September 2018 - 08:37 PM

ST SPX went short, exit short stop @ 2910.6

 

Strangely IT did not go short but is still flat. with IT Short entry trigger @ SPX 2903.8

Maybe it is because of the bigger range today, one of the biggest during the past few weeks. 

 

I would not rule out another bounce to test the record high SPX but time is running out on that SPX 3000 for 2018. We will see how this goes after the midterms. 

 

Note NQ was relatively stronger today, compared with DOW & SPX. 

 

Will Crude revert to the conventional inverse relationship with equities?



#2 dTraderB

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Posted 26 September 2018 - 08:39 PM

Tim Ord was neutral earlier today, don't about now.

 

SPX Monitoring purposes; Neutral
Monitoring purposes GOLD: Long GDX at 18.72 on 8/17/18
Long Term Trend SPX monitor purposes; Sold long term SPX 7/16/18 at 2798.43= gain 2.95%; Long 6/29/18 at 2718.37.

15379808573071933550952.pngOn Thursday and Friday of last week, the Volume on the SPY jumped over 30% from the previous day volume which implies short term exhaustion to the upside. Friday’s volume was higher than Thursday’s volume and most high volume highs are tested, suggesting that Friday’s price high will be tested again. The DIA was higher four days in a row going into last Friday, and the DIA closed higher at least once in the next five days 81% of the time. This condition suggests last Friday's high will be tested again with a probability of 81%. The McClellan Oscillator remains below “0” and a bearish sign. Tomorrow’s FOMC meeting announcement could produce the next setup.

15379808768791021525683.pngAbove is the weekly VIX with its Bollinger band.  The Weekly VIX Bollinger band is pinching suggests a large move for the SPY is not far off. The bottom window is the “Bollinger Band Width” which is at its lowest point since January. The January period produced the biggest decline for this year thus far. If the market does bounce and test Friday’s high, a sell setup could form. Also remember, “market has been down 6 days in a row going into September 7 and the market been lower 10 of 12 times (83%) on average of 3% over the next 30 days.” FOMC meeting is today and tomorrow and may have an effect on the market. Still neutral for now.

https://stockcharts....er-26-2018.html

 



#3 K Wave

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Posted 27 September 2018 - 10:54 AM

The gap up on AAPL off 220 looks extremely important now, and continues to hold NQ aloft...

 

As long as that gap holds, bulls still have ball from a swing perspective.

IF bears can't reverse it soon, could see AAPL make a run towards 240...

 

IF/WHEN 220 gets broken now, that would likely be the sign it is time to short for a potentially big swing down...


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

 

 


#4 dTraderB

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Posted 27 September 2018 - 12:43 PM

darn, I love this market! 

Great daytrade trending action, up or down..... just trade it! 



#5 dTraderB

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Posted 27 September 2018 - 12:44 PM

Important support at the ES 5m 50ma 

at 2927



#6 dTraderB

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Posted 27 September 2018 - 02:36 PM

ES 2916 next support