GS is bouncing sharply, signaling a probable test of that SPX high just under 2941... So this could just be another big SPIKE to SELL INTO, like the last 2, what do they say? 3RD time is the charm?
7 replies to this topic
#1
SemiBizz
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Posted 03 October 2018 - 11:03 AM
Price and Volume Forensics Specialist
Richard Wyckoff - "Whenever you find hope or fear warping judgment, close out your position"
Volume is the only vote that matters... the ultimate sentiment poll.
http://twitter.com/VolumeDynamics http://parler.com/Volumedynamics
Richard Wyckoff - "Whenever you find hope or fear warping judgment, close out your position"
Volume is the only vote that matters... the ultimate sentiment poll.
http://twitter.com/VolumeDynamics http://parler.com/Volumedynamics
#2
redfoliage2
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Posted 03 October 2018 - 01:52 PM
The spike got sold again and SPX is about to have the today's gains wiped out. Something is seriously wrong with the current market...............................
Edited by redfoliage2, 03 October 2018 - 01:54 PM.
#3
qqqqtrdr
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Posted 03 October 2018 - 02:01 PM
My guess is market continues to be sold... I've seen this set up before and the market takes off higher, but the market breadth is becoming more narrow so there is downside risk... I continue to see the market internals eroding as price marches higher... At this point if you are still long you should have an exit strategy.... My charts are currently neutral, so don't have a buy or sell...
#4
SemiBizz
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Posted 04 October 2018 - 09:04 AM
GS clearly diverging.. it's up a couple of bucks... with BKX up 1.55...
Shorts beware.
Price and Volume Forensics Specialist
Richard Wyckoff - "Whenever you find hope or fear warping judgment, close out your position"
Volume is the only vote that matters... the ultimate sentiment poll.
http://twitter.com/VolumeDynamics http://parler.com/Volumedynamics
Richard Wyckoff - "Whenever you find hope or fear warping judgment, close out your position"
Volume is the only vote that matters... the ultimate sentiment poll.
http://twitter.com/VolumeDynamics http://parler.com/Volumedynamics
#5
SemiBizz
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Posted 04 October 2018 - 11:29 AM
WOW, big reversal...
Trying fill that upside gap now at 226.07
If it closes under it that pretty much signals a full reversal.
Edited by SemiBizz, 04 October 2018 - 11:30 AM.
Price and Volume Forensics Specialist
Richard Wyckoff - "Whenever you find hope or fear warping judgment, close out your position"
Volume is the only vote that matters... the ultimate sentiment poll.
http://twitter.com/VolumeDynamics http://parler.com/Volumedynamics
Richard Wyckoff - "Whenever you find hope or fear warping judgment, close out your position"
Volume is the only vote that matters... the ultimate sentiment poll.
http://twitter.com/VolumeDynamics http://parler.com/Volumedynamics
#6
K Wave
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Posted 04 October 2018 - 12:42 PM
Massive reversal in Crude today...
The strength of Government lies in the people's ignorance, and the Government knows this, and will therefore always oppose true enlightenment. - Leo Tolstoy
#7
diogenes227
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Posted 04 October 2018 - 12:54 PM
Massive reversal in Crude today...
I had a trader friend, who has passed away, who used to say on days like today "When the paddy wagon comes, they take all the girls."
Crude but true.
"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."
#8
PrintFaster
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Posted 04 October 2018 - 11:25 PM
Massive reversal in Crude today...
I had a trader friend, who has passed away, who used to say on days like today "When the paddy wagon comes, they take all the girls."
Crude but true.
That expression most likely came from Bob Brinker, who was famous for saying: "When the paddy wagon pulls up to the house of ill repute, everyone goes, including the piano player". He used to reference that phrase, saying in true bear markets, there are no sectors or stocks where you can hide.
