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THAT'S the ST LOW! SPX up 50 points from today's low


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#41 dTraderB

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Posted 28 October 2018 - 05:26 PM

Thanks for the articles! These buybacks seems a little fishy to me as they increase leverage, especially when some corporations do with very high P/Es (spending lots of cash, but not cancelling many shares with higher prices)?? I guess if they are growing revenues and earnings simultaneously it makes sense, but for some like IBM it probably wasn't best use of cash.  

 

*I think the bottom is in, at least short term, mainly because I sold some stocks last week....and I am about as retail as it gets...just couldn't handle anymore pain on some of my positions! smile.png

 

Yeah, the buybacks will come back to haunt these companies & those who buy into the fake buyback rally. 

 

I called a ST low because the selling was really intense on Thursday and the market shot up from the low as many buyers came in; there was more selling but even more buyers came in and the markets could not go lower; but, again, there was more selling and this time the bulls overcame the bears and sent the market highe, for a higher close on Friday. Waves of selling met strong buying and the bulls won.

The intraday ranges, the rallies, dips, and one-minute bar ranges were phenomenal. However, the IT momentum is with the bears so the bulls will have to put out all they have to keep this rally going. First target is SPX 2690, then SPX 2710.... If the market can't rally to these levels then SPX 2500 handle will be achieved in a session or two. 


Edited by dTraderB, 28 October 2018 - 05:27 PM.


#42 da_cheif

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Posted 28 October 2018 - 08:30 PM

being bearish is easy    ....anybody can do it

 

 

watch the sky

 

9147078_74056909806810c1e875a65cac74d2af

 

https://www.siliconi...65cac74d2af.png

 

9147078_4497f0486cc5b09c6425c4f551860ffa

 

https://www.siliconi...4f551860ffa.png

 

timer digest shows only one bull in the top ten......at the feb low it was 5 bulls......3 drives to a low   10/23.10/24..10/26

 

https://www.forex.co...-drive-pattern/

 

https://money.cnn.co...fear-and-greed/



#43 dTraderB

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Posted 29 October 2018 - 08:36 AM

First bounce target hit @  SPX 2690

Next at 2710

 

But now is critical because either the buying power is depleted and the market tanks again 

or the bulls can take it higher

 

SPX 2640 is first target down



#44 dTraderB

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Posted 29 October 2018 - 09:10 AM

Failed at frist attempt to break SPX 2710

 

Waited patiently afte a chopping opening and then latched on to a 46-point NQ Long



#45 dTraderB

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Posted 29 October 2018 - 09:57 AM

Bears pressing hard, bull trying to hold on to early gains.

If SPX 2690 breaks then this could go back down to SPX 2660

 

Only 2 trades today, NQ long and NQ short but big ones!


Edited by dTraderB, 29 October 2018 - 09:57 AM.


#46 dTraderB

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Posted 29 October 2018 - 10:17 AM

SPX 2690 fell to the bears' onslaught.... bulls have to retake it or it's down real hard....

 

One more trade NQ short, 12.25 points

 

Looks like another NQ short coming up ...  



#47 dTraderB

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Posted 29 October 2018 - 11:01 AM

Lower swing low, Bulls can't turn away the bears' onslaught.

 

In the midst of another NQ short, trail stop 5 points

 

NQ negative on the day!

 

First target down 2660 SPX



#48 dTraderB

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Posted 29 October 2018 - 11:26 AM

SPX 2660 test coming up...... a daily close below this opens the way to a quick descent to SPX 2480/2500

 

Two more NQ shorts, closing my QQQ puts, so I will hold only QQQ calls. 

The profit from the QQQ puts almost equals the cost of the QQQ calls! 



#49 dTraderB

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Posted 29 October 2018 - 12:06 PM

SPX 2665 has held so far, three testst, still looks bullish unless there is a daily SPX close below 2660.

 

2 small NQ trades during lunchour - one long , one short. 

 

Note VIX went positive on the day but fell 

 

and NASDAQ is gettign stronger.

 

ALL that is useless unless SPX can close above 2660. 



#50 dTraderB

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Posted 29 October 2018 - 12:44 PM

NQ Futires high was near 7000 and low was 6786, a 200-point daily range, so far.....

 

It is still down on the day at this time. 

It does seem that the fate of NASDAQ today will control the direction of the overall market during the next few sessions. 

 

Two long and one short NQ trades during the past hour. 

 

Very important last 2 hours coming up.