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12/27


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#61 zoropb

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Posted 27 December 2018 - 04:07 PM

I would short it now but not till after the break.


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#62 Waver

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Posted 27 December 2018 - 04:11 PM

if this thing gaps and goes tomorrow to the upside, I do not see how that is bearish.  looks to be wave 3 up.

 

The entire decline from October's top looks like a huge corrective decline.



#63 zoropb

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Posted 27 December 2018 - 04:22 PM

If it does not gap at the open will short it with a quarter for later. at least to 77+- it probably goes lower but with a Kraken out there no thanks.


Edited by zoropb, 27 December 2018 - 04:22 PM.

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#64 fib_1618

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Posted 27 December 2018 - 04:22 PM

if this thing gaps and goes tomorrow to the upside, I do not see how that is bearish.  looks to be wave 3 up.

 

The entire decline from October's top looks like a huge corrective decline.

 

Do not be persuaded by Elliott Wave analysis...it gets more people in trouble than I can to know.

 

Watch breadth of market...it is the very backbone of all things market.

 

Fib


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#65 Waver

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Posted 27 December 2018 - 04:28 PM

Fib
Thanks for that
And I agree
Breadth is more important

I know that breadth was weak all day
Went up with the rally
However still tremendously weaker compared to yesterday
Bearish divergence thus far, but that can change quickly easily by tomorrow morning.

Are you saying that so far by what you see with breadth, dont trust this rally? Need to see more I presume?

#66 redfoliage2

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Posted 27 December 2018 - 04:40 PM

More likely to gap down tomorrow morning..........



#67 chem

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Posted 27 December 2018 - 05:49 PM

ideally - down to 2500ish followed by a bounce retrace of 100+ points - and a final low 2390-2320. This ideal would accomplish many objectives firstly a completed expanded flat w?, secondly it would help reset the continuing bull run with an oft called for 20% correction, thirdly the bears would come out of the woodwork citing the aforementioned 20% correction as evidence of a bear market. All this lines up ideally to setup further bull advance with many left at the station anticipating the crash right around the corner... but I would view any break of 2320 as problematic for further advance.

 

Quote from 10/30 - update a retest with marginal new lows would still fit the expanded flat 1.62 c wave target area 2390-2320 but the downside momentum is quite reminiscent of the oct '08 decline and it wouldn't surprise me to need the next area 2051-1983, the longer it takes to recheck the lows the more likely this first target area is to hold up as a market bottom.



#68 zoropb

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Posted 27 December 2018 - 06:18 PM

I hear you Fib.  It can mess you up specially in the larger time frames.  I mainly trade quick.   Price for me is #1 and then the rest. I use a very spartan set up. A bb, a few ma's and rsi that's it... K.I.S.S. On the larger bars I use more. 

 

Like today a perfect example is what Waver pointed out breadth sucked but price went up. Always reminds of that Joke I think Nav said years ago when the little girl told the daddy while he was explaining all his indicators saying it would go up and she stops him and says but daddy the price keeps going down. lol

 

btw still short from 89.50

 

chem nice call for sure.


Edited by zoropb, 27 December 2018 - 06:22 PM.

Love, be kind to one another, seek the truth, walk the narrow path between the ying and the yang.


#69 zoropb

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Posted 27 December 2018 - 06:35 PM

close enough im out +9.5 but worth half. will count it in tomorrows. 


Love, be kind to one another, seek the truth, walk the narrow path between the ying and the yang.