45 replies to this topic

[CLK]

Added back 1/2 at 2809.50.

[fib_1618]

Careful...the Russell is up 7.

 

Fib

[OEXCHAOS]

I was long right off the lows today, then was too aggressive with my stop, and left 8 points on the table.

[tsharp]

Not sure how this is going to play out, but here's one interpretation of this morning...

 

[OEXCHAOS]

My gut is that we're going to "back into" a couple momentum sells today or maybe tomorrow, and chop a bit, then launch higher to fill the gap above. That has to be magnetic. I SUSPECT that we'll have a proper consolidation thereafter to set up the break-out.

 

M

 

<edit>
P.S. When we "back into" a momentum sell, I mean that the market goes sideways, the indicators go flat, and the math triggers the signal, not the price action. These types of Sells are often good fades. They're nice traps for noobs, though.

[hiker]

potential M-Top remains in play for all of July 2018 for
most indices:

M-Top setup criteria is met for the indices listed below as defined by the detailed Bollinger Bands use description
at stockcharts.com indicator school:

Summary: M-Top in play for all but the S&P 600 which negated the M-top setup by its July price high tagging the 21,2 upper BB …
and not for the $NYA and for the $INDU which has no higher price high in July vs. June
so the M-Top is not yet applicable

comparing the June price high vs. the July price high, and the condition that the higher July price highs have
not touched or surpassed the daily 21,2 upper Bollinger Band

S&P 500
S&P 100
S&P 400
S&P 600 - no M-Top setup
Dow Jones Industrial  - M-Top is not yet applicable
NYSE Composite - M-Top is not yet applicable in July
Nasdaq Composite
Nasdaq 100

"a strong uptrend produces numerous upper band tags"

this requirement for recognizing a strong uptrend is
instructive for both the price action charts as well
as the cumulative net Advance-Decline line breadth charts

the numerous upper band tags condition has been absent
since mid-June 2018 for the price action charts, and absent for

much longer using the daily 50,2 BB applied to the A-D line charts

Edited by hiker, 19 July 2018 - 11:47 AM.

[hiker]

addtionally, using Fib_1618's instructional training over the years, 

the various index and exchange McClellan Summation Indexes which

have a now short-lived bounce underway numbering several days are

due for a high probability Summation bounce failure unless the McClellan

Oscillator for each index or exchange actually approach the McO spike

high achieved last week, and the McO's have shown no inclination to even

begin such an effort as of the Wednesday July 18th close

 

here is my summary of McSum status as of Tuesday's close

 

McSum status as of Tuesday July 17:

Summary: mixed status, with priority chart evaluation merit to
be given to the developing McSum setup by the NYSE common-stocks-only
based on decades of high reliability that is correlated
with the eventual price outcome for the broad US market indices
when this McSum displays a hesitation pattern or a directional reversal

S&P 500 - up into the Tuesday bounce high
S&P 100 - up into the Tuesday bounce high
S&P 400 - Friday's bounce high followed by 2 down days
S&P 600 - last Tuesday's bounce high followed by 5 down days
Dow Jones - up into the Tuesday bounce high
NYSE all issues - Friday's bounce high followed by 2 down days
NYSE common stocks only - Friday's bounce high followed by 1 down day & 1 flat day
Nasdaq - last Tuesday's bounce high followed by 4 down days with 1 slight up day last week
Nasdaq 100 - up into the Tuesday July 17h bounce high

[CLK]

I'm calling new lows, shorts are gone, they got stopped on that tweet.

[cycletimer]

I closed out my puts on the open this AM. Actually placed market orders in before the market opened as I was busy until now and unable to access markets, computer, etc.

[CLK]

Took 1/2 back off, carrying the other half overnight. They ran the internals up but price didn't follow.

 

Still looking for 2790.

Edited by CLK, 19 July 2018 - 03:12 PM.