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BEARS GROWLING ("I can't see a recession!". "Where's the recession!")


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#1 dTraderB

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Posted 06 March 2019 - 06:48 PM

SPX now testing the lower edges of the recent congestion zone - a break below SPX 2760 will be extremely bearish with the high probability of a 2600 SPX handle in a day or two. 

However, and this is quite possible, the bulls can keep the market above that support zone and power up back above SPX 2800. 

Lots of bears growling out there......

 

  1. "I can't see a recession!". "Where's the recession!". I can't tell you how much I hear this every single day. It's like saying "I can't smell the carbon monoxide." By the time you "see the recession", your head's sliced off. Such a ridiculous statement.

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  2.  Douglas Kass Retweeted

    Spoos new lows. Can we please get another idiot from the Fed to talk about more QE and negative rates? @federalreserve

 



#2 dTraderB

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Posted 06 March 2019 - 06:52 PM

Helene Meisler @hmeisler
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I think Grasso just lifted his downside target. Said 5-7% which is more like 2600 not 2500 which he upped it to last week (from 2200)

 

Big jump in stocks making new lows on the NYSE. Most since first days of Feb

 

Worst day for RUT since 12/21

 

ISE ratio lowest since 1/23
First 3 consecutive days of red for RUT since late December.
 
 


#3 dTraderB

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Posted 06 March 2019 - 06:54 PM

Tom McClellan @McClellanOsc
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Tom McClellan Retweeted John Bollinger

Arms Index of 2.09 (preliminary) with GE's 198 million shares in the numbers. 1.96 ex-GE. Not much difference in meaning.

Tom McClellan added,

John Bollinger @bbands
Those watching the TRIN today would do well to take GE into account.
 
Replying to @McClellanOsc

I've always heard it can mean 1 of 2 things if TRIN is above 2.0 -- (a) We're likely to have a bounce tomorrow, or (B) If we don't bounce, it can be a precursor to a crash. Watch the Thursday & Friday action.

 

  1. Equity put/call ratio 70%, highest since 2/7

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    More new lows than highs on Naz today



#4 dTraderB

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Posted 07 March 2019 - 09:28 AM

VERY BUSY MORNING!

 

Volatile markets pre-cash sessions, hope it continues all day, still waiting on that SPX 2760 test



#5 dTraderB

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Posted 07 March 2019 - 10:24 AM

It's not an automatic profitable trade! 

 

$SPX has crossed under the 200d midday after closing at least 15 straight days over it.

 

So you're about to sell everything and go short.

 

K.

 



#6 redfoliage2

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Posted 07 March 2019 - 10:38 AM

With the daily pivot support at 2760 gone, now let's see where will be the next stop..................


Edited by redfoliage2, 07 March 2019 - 10:38 AM.


#7 dTraderB

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Posted 07 March 2019 - 11:37 AM

Good movement,, good range, heading back up to test the underside of the SPX 2760 resistance zone.



#8 dTraderB

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Posted 07 March 2019 - 12:44 PM

Another attempt at SPX 2760 from below. 

 

Break above it and a DAILY close above it will be BULLISH. Failure and close below it will be VERY BEARISH

 

Some - many - are watching the 200ma around these levels



#9 dTraderB

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Posted 07 March 2019 - 01:01 PM

rebuffed, but more attempts at SPX 2760 coming soon



#10 dTraderB

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Posted 07 March 2019 - 01:33 PM

My LT portfolio is almost empty.

 

Got to buy some stocks, preferably stable boring ones like financials, maybe ETFs