23 replies to this topic

[robo]

Pausing or Stalling or ready to plunge?

 

I don't know, but the Risk/Reward sure has changed.

 

Tuesday was day 41, placing stocks in their timing band for a DCL. The swing high was accompanied by a close below the 2800.18 resistance level that signals the start of the daily cycle decline. A close below the 10 day MA will confirm the daily cycle decline.

Stocks are in a daily uptrend. If a swing low forms above the lower daily cycle band they will remain in their daily uptrend.

https://likesmoneycy...morning-update/

 

The Pullback May Start Today

Published  February 27, 2019 - 7:30 AM

This week’s stock market action has likely signaled a short-term turning point from bullish to bearish.

The S&P 500 gapped above the 2800 resistance level early on Monday. The index ran as high as 2813 before a last-hour decline pushed the index back down below 2800.

The S&P 500 still closed in positive territory on Monday. So, we can’t really call it a reversal day. But the action was weak. And, that sort of weakness, following a long, nearly-one-way move higher often marks at least a short-term top.

https://www.jeffclarktrader.com/

 

 

[dTraderB]

Closed than NQ long....waiting for next trade...

Was extremely hesitant about nay long trade today but MARKET forces you to be disciplined and trade WITH it rather than preconceived notions, opinions, analysis...

 

W.H.C. Bassetti: The tipping point... nose up against resistance...

W.H.C. Bassetti |  February 26, 2019 at 07:20 PM

http://schrts.co/VuskVtDx

Weekly basis. A weekly basis chart dramatizes recent price action. There certainly is some drama in the chart -- 9 weeks of advancing prices. The upshot is essential drama. Price is nose up against important technical and psychological resistance. The price itself is shot with significance: 2800. Centenary numbers have what Gibbon called numen. This numinous character underlies market action, inhibiting advance and, when broken, acting as an impulsive force.

For the investor, waiting is the game until 2800 definitely falls, and then adding on or increasing commitments. That the market is at a tipping point can be seen from the latest trend line -- too steep and too overbought. This marked condition reinforces a waiting policy.

http://schrts.co/SxZJruFB

The situation is further illustrated in the daily chart. The speed and violence of the advance is reflected in the trend lines from the low. There is no anchor point for a trend line. (An anchor point is the low of a correction or reaction against the trend, regardless of its length.)

W.H.C. Bassetti
Edwards-Magee.com

Click here for more information on subscribing to the Edwards & Magee newsletter.

[dTraderB]

Douglas Kass‏Verified account @DougKass 4h4 hours ago

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Two months ago I wrote a column entitled 10 Reasons The Market May Rise by +5% in a Single Day. (It almost did within hours) Today I write the opposite column on @realmoney @jimcramer @tomkeene @SquawkCNBC

 

I will take 1.9% lower today

 

and then give me the rest of the 5% during the next few days.

 

I still think we see a daily close above SPX 2800 before the major decline begins but ...MAYBE NOT

 

[K Wave]

So far, markets do not appear to like the Trumpster fire in Congress today....

 

I guess this was what they were waiting for....could get ugly today, after obvious stall out over last few days...

[redfoliage2]

Not for a collapse, but a correction long over due.  NYMO will be in the negative by the close today.............

[dTraderB]

SELL the rallies, with equivalent SPX LONG stop @ 2812

[dTraderB]

Of course, that's not a ST trade

[dTraderB]

ZEROHEDGE being mischievous or tongue in cheek or.... setting up LIGTHIZER?

 

 

zerohedge‏ @zerohedge 3h3 hours ago

More

LIGHTHIZER SAYS MORE CHINA PURCHASES ALONE NOT ENOUGH FOR DEAL

Lighthizer trying to scuttle Trump's "deal"

 

*LIGHTHIZER SAYS ANY CHINA AGREEMENT MUST BE ENFORCEABLE *LIGHTHIZER: NO CHALLENGE IN TRADE SPACE GREATER THAN CHINA

 

 

[dTraderB]

My Top Ten List That Could Cause Stocks to Decline by at Least 5% in One Trading Session

1. Domestic economic growth weakens further (and supply side economics is further discredited), Chinese growth fails to stabilize and Europe enters a deepening recession.
2. U.S./China fail to agree on trade. (My baseline expectation is that investors will view a likely, superficial agreement as no agreement at all). We will find out shortly whether my view is accurate that President Trump thinks in timeframes of a tweet and President XI thinks in timeframes of decades - and that there will be no big deliverables with regard to IP theft and/or technology exchange. The same applies to the current summit with North Korea - which may yield little in the way of substantive agreements (transparency, a freeze, etc.) despite the Administration's optimism.

https://realmoney.th...ession-14880234

[12SPX]

My Top Ten List That Could Cause Stocks to Decline by at Least 5% in One Trading Session

1. Domestic economic growth weakens further (and supply side economics is further discredited), Chinese growth fails to stabilize and Europe enters a deepening recession.
2. U.S./China fail to agree on trade. (My baseline expectation is that investors will view a likely, superficial agreement as no agreement at all). We will find out shortly whether my view is accurate that President Trump thinks in timeframes of a tweet and President XI thinks in timeframes of decades - and that there will be no big deliverables with regard to IP theft and/or technology exchange. The same applies to the current summit with North Korea - which may yield little in the way of substantive agreements (transparency, a freeze, etc.) despite the Administration's optimism.

https://realmoney.th...ession-14880234

 

 

Was looking good for some type of correction but now.......Looks like just another sideways consolidation day!  Hopefully something will happen in the final hour then just up lol!!