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SPX closed below 200ma, can NFM report save the BULL?


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#21 dTraderB

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Posted 08 March 2019 - 03:40 PM

OK, 

 

Maria BartiromoVerified account @MariaBartiromo
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February jobs report wasn't surprising: Stephanie Pomboy http://ow.ly/ZdnE30nYqlI  @MorningsMaria @FoxBusiness

 

Maria BartiromoVerified account @MariaBartiromo
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Huge miss on jobs in February #jobs 2b06.png 20-k versus an expected # of 180-k @MorningsMaria @FoxBusiness best analysis right now @dagenmcdowell @cvpayne @spomboy weakest job growth since sept 2017

5:31 AM - 8 Mar 2019

Edited by dTraderB, 08 March 2019 - 03:41 PM.


#22 dTraderB

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Posted 08 March 2019 - 03:43 PM

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Want some perspective? Last time $SPX closed back-to-back days below the 200d moving average after spending at least 3 trading weeks above it was Day 2 of the August 2015 Crash Week. SPX had already dropped -6.3% in a few days.

12:22 PM - 8 Mar 2019


#23 dTraderB

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Posted 08 March 2019 - 05:02 PM

Really brave souls who went home LONG the weekend!



#24 redfoliage2

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Posted 08 March 2019 - 05:19 PM

Expect SPX to move up above the 200 dma line during the OpEx week, its the next week. Id not expect this market to move much lower before a trade deal with China is announced later in the month as Trump said today he is optimistic on a very good deal.

#25 robo

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Posted 09 March 2019 - 04:12 PM

Really brave souls who went home LONG the weekend!

Next week is Triple Witch and you also have the 3 Musketeers talking on Sunday night. As a trader using odds one should NOT rule out a gap up Monday. I think the Risk is holding short positions over the weekend not long positions.  I'll record it just in case something useful is said, but I doubt there will be....  For VST trading the trend remains down for now, but a nice close on Friday, and maybe we will get a gap on Monday.  We shall see!

 

Fed chairman to reach beyond usual audience to counter Trump’s argument that his policy is all wrong

https://www.marketwa...ican-2019-03-08

 

This chart indicates to me they held rates to low for tooooo loooong....  

https://stockcharts....692&a=650096947


Edited by robo, 09 March 2019 - 04:21 PM.


#26 Bearingly

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Posted 09 March 2019 - 05:05 PM

So they're going to imply/infer that that the dovishness is really because the economy is weaker....and that is interpreted as being bullish?  I would argue the opposite.



#27 dTraderB

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Posted 09 March 2019 - 05:58 PM

So they're going to imply/infer that that the dovishness is really because the economy is weaker....and that is interpreted as being bullish?  I would argue the opposite.

 

 

You got it! LOL

 

Market has already priced in a watered-down trade deal, no rate hikes, no more reducing FED balance sheet but not as far as QE, and Q4 2018 earngings. 

 

So, what else is there to rally beyond the SPX 2810/20 level? 

 

OPEX could be up early in the week and then big down into Friday.



#28 robo

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Posted 09 March 2019 - 06:49 PM

So they're going to imply/infer that that the dovishness is really because the economy is weaker....and that is interpreted as being bullish?  I would argue the opposite.

We should wait and hear what they have to say, but Trump has really been bashing the Fed lately. So I think they want to tell us how smart they all are. It's all done for the good as a whole and is not political.     That's just my opinion for now. I might change it after I here them talk. Something is up for them to be doing this.  


Edited by robo, 09 March 2019 - 06:53 PM.


#29 opinionated

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Posted 10 March 2019 - 09:22 AM

I think they see, what some talking heads see.  

 

We are headed for recession in the next 12 month if something does not change.  I think Trump has the Country's best interest at heart, but he just talks to much.



#30 SemiBizz

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Posted 10 March 2019 - 11:21 AM

BREXIT - will not be a non-event...


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