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TRAPPED! SPX unable to break out .....up or down!


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#11 cycletimer

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Posted 05 March 2019 - 11:48 PM

FWIW, THE Next cycle turn is March 18th

#12 dTraderB

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Posted 06 March 2019 - 06:51 AM

 I hold similar opinions:

"Long-term breadth, as measured by the McClellan Summation Index, the most important indicator of mass market psychology, turned bearish four days ago after several warnings from the declining highs on the McClellan Oscillator itself. My nifty-50 stock list has failed to get overbought since the rally’s kick-off’s first few days. While the indexes have worked higher, the stocks have rotated and paused and in some cases fallen under the surface (take a look at the rollover in the banking sector)."

http://www.thegodoft...slow-roll-over/

 

http://www.traders-t...lover/?p=798696

 



#13 dTraderB

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Posted 06 March 2019 - 06:53 AM

FWIW, THE Next cycle turn is March 18th

 

DOWN/flat 2 weeks and then UP?

 

or UP/flat two weeks and then DOWN?



#14 dTraderB

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Posted 06 March 2019 - 06:57 AM

da chief bought on this day at the low and has held on to that....

 

Sven HenrichVerified account @NorthmanTrader
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10 years ago today, March 6 2009, marked the market low during the financial crisis and $SPX hit its intraday low of 666

D09eLkYXcAA74tC.jpg
12:01 AM - 6 Mar 2019


#15 cycletimer

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Posted 06 March 2019 - 09:44 AM

FWIW, THE Next cycle turn is March 18th

 
DOWN/flat 2 weeks and then UP?
 
or UP/flat two weeks and then DOWN?

Flat/down then up. There are two big turns/pivots in mid-May and July. It’s a guessing game this far out from then. I’m betting the market’s rally has run out of steam temporarily and we are pausing, never significantly breaking support. This pause will be followed by a rally to new all time highs >3000 into the Summer. Again, it’s a guess. I’m mostly in cash but hold8ng abshort call credit spread on the $SPX that will narrow as time erodes it, which is the goal.

#16 redfoliage2

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Posted 06 March 2019 - 09:46 AM

Expect VST support SPX 2760 to be tested ..............



#17 dTraderB

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Posted 06 March 2019 - 01:08 PM

SPX 2760/65 nearest STRONG support

 

break that and it could hit a 2600 handle in a day or two; hold that and SPX challenges the recent daily swing high in a day or two.



#18 dTraderB

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Posted 06 March 2019 - 01:17 PM

  1. The canary in the coal mine in the ADP data was the 8k decline in employment at small companies. This was the largest job-shedding since December 2013 and remember -- the drop in the last cycle led the recession by six months!

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  2.  Douglas Kass Retweeted

    Tell me, are the cheerleaders who follow me on Twitter going to voice their criticism to the Bank of Canada as well? The BoC just stated "recent data suggest that the slowdown in the global economy has been more pronounced and widespread". I suppose Poloz is as clued out as I am.

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  3.  

    According to my calculus, the market's downside risk dwarfs upside reward. And the warning signs of trouble ahead are expanding.

 



#19 dTraderB

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Posted 06 March 2019 - 02:51 PM

haha... unique... has grown more & more popular as it ages.

 

Douglas KassVerified account @DougKass
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Happy 21st Birthday to the Big Lebowski!

 

11:38 AM - 6 Mar 2019

 



#20 dTraderB

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Posted 06 March 2019 - 02:57 PM

Not complaining, but let's get some more movement in this final hour today!

 

Come on, people, buy or sell by the millions!