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#11 tsharp

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Posted 08 October 2018 - 08:49 AM

What i don't understand is you call for a long term top in Nasdaq and at the same time call for S&P 5300 long term. That says your analysis w.r.t to one of them is big time wrong 

 

 

Okay.

 

I did say above:  "It may be the techs have rolled over..."  key word, "may" with a bear market roll over context implied.

 

I typically post the short version of my thoughts here, since most here are traders...

 

The longer version posted on my blog also said:  "The weekly chart shows an UTL break of the momentum indicator also, what I want to see to confirm (LT down trend is in play) the NDX isn’t extending, is what happens when the price bars hit the lower channel line on the daily chart and what happens when the momentum indicator line comes to the +100 support level on the weekly chart… watching."

 

What could allow for an extension?  A trade deal with China... clearly this trade issue is weighing quite a bit on the tech sector.

 

You also misquoted my "potential" higher target... it's SPX 5100, not 5300... just sayin... if the tech sector rolls over this early, then likely my lower target from 4.9.16, of ~3600, is still in play and most likely to be where the SPX bull market ends.



#12 Data

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Posted 08 October 2018 - 09:04 AM

The S&P 500 bounced off the January high for the second time.  It took the Midcap about four times.  It looks like somebody went long and is flooding the boards with crash posts.

 

AMAT is not really a bellwether.  It is Apple and the social media stocks that act impervious to the China trade war.



#13 NAV

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Posted 08 October 2018 - 09:46 AM

 

What i don't understand is you call for a long term top in Nasdaq and at the same time call for S&P 5300 long term. That says your analysis w.r.t to one of them is big time wrong 

 

 

Okay.

 

I did say above:  "It may be the techs have rolled over..."  key word, "may" with a bear market roll over context implied.

 

I typically post the short version of my thoughts here, since most here are traders...

 

The longer version posted on my blog also said:  "The weekly chart shows an UTL break of the momentum indicator also, what I want to see to confirm (LT down trend is in play) the NDX isn’t extending, is what happens when the price bars hit the lower channel line on the daily chart and what happens when the momentum indicator line comes to the +100 support level on the weekly chart… watching."

 

What could allow for an extension?  A trade deal with China... clearly this trade issue is weighing quite a bit on the tech sector.

 

You also misquoted my "potential" higher target... it's SPX 5100, not 5300... just sayin... if the tech sector rolls over this early, then likely my lower target from 4.9.16, of ~3600, is still in play and most likely to be where the SPX bull market ends.

 

 

Let us know when you have a confirmed signal.


"It's not the knowing that is difficult, but the doing"

 

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