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ST short, IT short, breakout today?


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#1 dTraderB

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Posted 10 October 2018 - 06:51 AM

Market has been wildly thrashing around this range for the past 3 days, SPX down but NASDAQ has started to recover from relatively strong declines. 

Still ST short & IT short but one has to be ready to reverse quickly since the market will breakout soon - down or up.

 

ST short ext stop @ SPX 2884,8

IT short exit stop @ SPX 2892



#2 K Wave

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Posted 10 October 2018 - 07:52 AM

Is this gonna be the breakaway gap under NYA 12960 today??

 

Long way to potentially fall if so...big air gap in daily chart just below here if bulls fail to reclaim 13K today

 

Could have a date with daily 900 in Oct-Nov time frame...currently about 1600 points lower...

 

Breakout/fakeouts can lead to astonishing declines...and big red day today on NYA today would virtually seal that in...



#3 dTraderB

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Posted 10 October 2018 - 08:09 AM

The Crash Window is still open, but not as much as before. REALLY? YES, because this is looking more lake your normal 2 to 3% decline rather than a steep & rapid "crash" like move. 

A daily SPX close below 2860 will raise the CRASH probability but that seems to be unattainable now for the bears and there are rampant hordes (good people) of energized dip buyers, still, even after this decline!

I don't see the sentiment of intense bearishness, maybe it will come but it's not there now, if dip buyers start losing big and panic!



#4 K Wave

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Posted 10 October 2018 - 08:57 AM

Unless NYA 13K is reclaimed later today, I think this now builds into a crescendo of panic selling before it is done....

 

This is a HUGE pivot spot on the chart....

 

Breadth before price....



#5 K Wave

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Posted 10 October 2018 - 08:58 AM

Still need AAPL to break 220 before full on panic sets in....



#6 K Wave

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Posted 10 October 2018 - 09:00 AM

That is one UGLY 30 min stick on NQ....



#7 K Wave

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Posted 10 October 2018 - 09:03 AM

Watch 74 level here today on Crude....

 

If that goes, could be a waterfall....


Edited by K Wave, 10 October 2018 - 09:04 AM.


#8 K Wave

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Posted 10 October 2018 - 09:49 AM

So far, AAPL holding above 222.5 level...

 

A breach of that would likely indicate a bear charge toward 220....



#9 12SPX

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Posted 10 October 2018 - 09:58 AM

The Crash Window is still open, but not as much as before. REALLY? YES, because this is looking more lake your normal 2 to 3% decline rather than a steep & rapid "crash" like move. 

A daily SPX close below 2860 will raise the CRASH probability but that seems to be unattainable now for the bears and there are rampant hordes (good people) of energized dip buyers, still, even after this decline!

I don't see the sentiment of intense bearishness, maybe it will come but it's not there now, if dip buyers start losing big and panic!

I agree at the least think the low will be set today, then bounce.



#10 K Wave

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Posted 10 October 2018 - 10:17 AM

I agree at the least think the low will be set today, then bounce.

 

 If AAPL holds 220 today, you could be right....but if not, a move that could shock a lot of people could be dead ahead....

 

If AAPL does not hold 220, it could be at the 200 day MA in a heartbeat...currently around 188....

What would that do to NQ?