Jump to content



Photo

I'm watching Naz100. Bounce is over


  • Please log in to reply
29 replies to this topic

#21 skott

skott

    Member

  • Traders-Talk User
  • 4,712 posts

Posted 18 May 2019 - 03:49 PM

ok, I don't smell much fear which bodes well for more downside. Russell 2000 is leading down too. I can't promise updates next week. 



#22 skott

skott

    Member

  • Traders-Talk User
  • 4,712 posts

Posted 19 May 2019 - 06:55 PM

If I were able to trade it the NAZ futures are at 7535. I'd short it (6:54 CST)  a tight stop could be 7540 to 7550



#23 skott

skott

    Member

  • Traders-Talk User
  • 4,712 posts

Posted 19 May 2019 - 06:58 PM

I should add as someone else posted on FF,  Dennis Gartman's "you can short stocks now " does give me pause.   so we could get another bounce to shake folks out. Still I would expect a test of 7500 and then reverse in the am. get the bigger bounce and then short it in a more aggressive way. just my 2 cents


Edited by skott, 19 May 2019 - 06:59 PM.


#24 skott

skott

    Member

  • Traders-Talk User
  • 4,712 posts

Posted 21 May 2019 - 01:11 PM

if you had a really tight stop you got stopped out. I wouldn't have had my stop that tight but then I wouldn't have been trading that time of night anyway. They did take them down. Probably a little lower than I would have expected and they have rebounded as suggested. This is the point where I stand aside and see if they can rise enough into a good spot to short.



#25 skott

skott

    Member

  • Traders-Talk User
  • 4,712 posts

Posted 23 May 2019 - 12:39 PM

still looks negative to me. my previous statement that 7475 was important played out to perfection. It broke, swoosh, rebound to test it as resistance and boom down again. Now of course it's obvious to everyone that 7275-7250 is critical. If that doesn't hold, you have another 300 naz 100 points lower.. Still seems a lack of fear in the market. caveat. I've spent just a few minutes looking at this. I have no tv on and have read nothing. I've been awake about 30 minutes and that market day is 4 hours old. Miserable pain.



#26 skott

skott

    Member

  • Traders-Talk User
  • 4,712 posts

Posted 24 May 2019 - 01:41 PM

Resistance for 5/24  7375 and support is 7265.  Per my earlier posts, 7268 was the low so that area held for at least the time being.



#27 skott

skott

    Member

  • Traders-Talk User
  • 4,712 posts

Posted 29 May 2019 - 01:14 PM

over 400 points in the pocket since my call. We'll bounce (we better hope) at some point but maybe not until around 7000??  Looks crashy



#28 skott

skott

    Member

  • Traders-Talk User
  • 4,712 posts

Posted 29 May 2019 - 02:41 PM

7275 is obviously now resistance. watch that area to see if it can contain any bounce.



#29 skott

skott

    Member

  • Traders-Talk User
  • 4,712 posts

Posted 30 May 2019 - 11:46 AM

and they took right 7271.25  three consecutive 30 min bars right below 7275 but couldn't even quite reach it. we are building some pessimism but not a whole lot of fear. my guess they'll take it lower over the next few days. If they can  break thru 7275 it could rally to 7360 before turning down again. Trade talk news can of course change everything



#30 skott

skott

    Member

  • Traders-Talk User
  • 4,712 posts

Posted 03 June 2019 - 05:26 PM

Waver,  I'm sorry. I somehow missed your question. Yes, I'm looking for a bear market in Equities and called a secondary top at 7640.  In my more recent post today I said it's best to take the majority of profits @ 6970. That was the price at the time. Good luck. My call for a rotation into Gold stocks has also come true although I see possible bumpy path for the next couple months for the miners.