30 replies to this topic

[fib_1618]

Personally, I don't care if we go UP or if we go DOWN as long as I have a clue about the direction.

 

And THAT is the bottom line.

 

Fib

[Iblayz]

If today's high is exceeded by a tick then we go up through next Wednesday at a minimum.

Edit.......

If today's high is exceeded by a tick (or if there is other evidence that I look for) then we go up through next Wednesday at a minimum.

[Iblayz]

And a very valid area of concern here is that the Nasdaq, NDX, RUT and NYSE have NOT as yet confirmed new highs. So will they catch up, or will we pull back and allow them to catch up or is that true non-confirmation of a real breakout for the US market as a whole? Truthfully, my guess is the latter with the REAL breakout coming later but am I going to bet the ranch on that? NO!......and primarily no because of the possible upside targets for the SPX.

[kssmibotm]

 

Some of the thread titles in the last 2 days...

 

Super Bullish case

Next Bullish Elliot wave

Potential 3rd of 3rd in India

Pretty clear this is a wave 3

3500 target by TSharp

Long term bulls coming out of woodwork.

Permabear folks talking bullish outcomes

 

This kind of sentiment on this board is generally a fade !. 

I posted the "Super Bullish case" as an FYI on a chart that was being posted on Twitter.  I do not personally endorse the super bullish case.  Although I am long, I am prepared to exit if this breakout turns out to be a fakeout.  Don't count my post as being "uber bullish".

Edited by kssmibotm, 14 July 2016 - 10:35 AM.

[SemiBizz]

These SPX highs not confirmed by Nasdaq et al like 2007... those are the dangerous ones...

 

After all stocks is supposed to be about growth.

 

There's no growth, just buybacks and price fixing...

 

For the big cap SPX, DJIA there's only about 100 stocks that need to be fixed.

 

Not so easy on these broader indices....

 

Oh yeah, and did I forget to say there is NO GROWTH?

 

So the fundamentals don't support this price ramp, but that's not at all surprising...

[uburack]

Even more so, look at MSNBC and Yahoo, the liberal sites. They have been hammering "buy in" lately. Extremely bullish, except for the many negative Trump articles. I maintain the stock market is nothing except a political tool. The past 7 years have been all about creating a narrative. A Potemkin village.

[andr99]

 

 After July, either this will be a uber bullish market for a year or two or a massive breakout failure on monthly charts. 

 

 

.....the second one

 

BTW.....I too noticed the super bullish board sentiment......probably due to the fact that many avoid to look at Europe 

[fib_1618]

...probably due to the fact that many avoid to look at Europe 

 

From last weekend's Weekly Breadth Data review:

 

"...while the DAX advance/decline line is less than 170 net advancing issues from eclipsing this same high water mark made back on April 10, 2015. The FTSE advance/decline line continued to trace out a constructive pattern of higher highs and highs lows this past week as it now stands just 500 net advancing issues from challenging its high point of April 10, 2015, while the CAC advance/decline line remains choppy (at best) as it continues to struggle in finding buyer support."

 

These "high points" are the all time highs, so it's not as bad in Europe many may think it is.

 

Fib

[gm_general]

Interestingly, only 15% of the stocks in the SP500 are making 52 week highs as the index does so.

 

http://www.zerohedge...aking-new-highs

 

But everything is irrelevant that does not sound bullish.

Edited by gm_general, 14 July 2016 - 12:57 PM.

[fib_1618]

But everything is irrelevant that does not sound bullish.

 

Just follow cumulative money flow and let others worry about things that may or may not be important.

 

Fib