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ST Bullish, IT Bullish - Bears attack during night session


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#1 dTraderB

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Posted 14 December 2018 - 06:58 AM

The Bears are on the rampage this morning after poor CHINA data during the night session

 

My system is still bullish ST and IT

 

ST bullish unless SPX closes below 2624

 

IT bullish unless SPX closes below 2605

 

Intraday hourly closes below SPX 2618 will be bearish



#2 dTraderB

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Posted 14 December 2018 - 07:00 AM

 
@DougKass 
Kass Retweeted Douglas Kass
Credit spreads are widening.
The CLO market is getting hit.
Household ownership of stocks near all time high.
Nothing to worry about at all!Douglas Kass added, 
 
@DougKass
Global central banks are pivoting - reducing liquidity.
Liquidity and volatility are inversely correlated.
There are alternatives to stocks with short rates rising.
etc. etc. 
3:16 AM - 14 Dec 2018


#3 dTraderB

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Posted 14 December 2018 - 07:02 AM

Jonathan FerroVerified account @FerroTV
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2:21 AM - 14 Dec 2018


#4 dTraderB

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Posted 14 December 2018 - 07:10 AM

 @Schuldensuehner
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#Fed to slow 2019 rate hikes as downside risks mount, Bloomberg Poll shows. Economist expect officials will signal 2 hikes next year. Most see Fed dropping call for ‘gradual increases’ by Mar. https://www.bloomberg.com/news/articles/2018-12-14/fed-to-slow-2019-rate-hikes-as-downside-risks-mount-poll-shows 

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10:47 PM - 13 Dec 2018


#5 dTraderB

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Posted 14 December 2018 - 07:20 AM

"...A decisive rally Friday tells us all is well and we are on our way back up to 2,800. But a fourth weak close means a near-term test of 2,600 is ahead. And of course the most frustrating outcome, another indecisive day like Thursday that doesn’t tell us anything.

I continue to give the market the benefit of doubt because Monday’s reversal was so decisive. But my faith isn’t infinite and unless the market starts doing something constructive, we will likely stumble back to 2,600 support. From there, the situation gets more precarious because few things shatter confidence like screens filled with red. But if we withstand that second test without collapsing, the market is generously giving us another dip-buying opportunity.

The headlines have been overwhelmingly bearish lately between arresting a key Chinese executive to Trump threatening to shut down the government. While none of this is good, the pullback in prices means a good chunk of the negativity has already been priced in and these discounts compensate us for taking the risk. Most of the time reality turns out far less bad than feared, and that is probably what will happen this time too. But 2,600 is our line in the sand. Fail to defend that level and things will get worse before they get better.

Screen-Shot-2018-12-13-at-5.40.59-PM.png

https://cracked.mark...-keep-my-faith/



#6 tsharp

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Posted 14 December 2018 - 10:44 AM

Today is the .776 time fib of wave-c:iv to wave-a:iv, so a turn is likely, and the fractal structure is complete to consider this wave-e:c:iv, or else it's a wave-b low... watching:

 

SP00-240-12-14-18.jpg



#7 dTraderB

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Posted 14 December 2018 - 11:06 AM

Today is the .776 time fib of wave-c:iv to wave-a:iv, so a turn is likely, and the fractal structure is complete to consider this wave-e:c:iv, or else it's a wave-b low... watching:

 

SP00-240-12-14-18.jpg

 

 

SPX 2600 is do or die for the bulls. 

 

Very unstable and skittish market



#8 dTraderB

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Posted 14 December 2018 - 11:07 AM

up, down, up, down

 

just trading along.

 

Looking forward to at least two more days of this great daytrading moves before taking off for the holidays



#9 diogenes227

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Posted 14 December 2018 - 11:13 AM

If 2600 breaks and becomes resistance, that trading range above it becomes what...an initial 200 point measured move to the downside?


"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."


#10 tsharp

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Posted 14 December 2018 - 12:24 PM

Not declaring the correction over just yet, but if it is, this is what it looks like:

 

SP00-240-12-14-18-1.jpg