20 replies to this topic

[dTraderB]

Unless there is a major geopolitical event, there will be new SPX highs during the next two weeks, maybe several new highs, culminating in the ST & IT top for this leg up. 

 

SPX is a nice round figure, so why not get there, move up another 1% or so as a bonus for the bulls, then from there it will be a big down move. 

 

Economic reality, earnings reality, and the FED pushing on a string will drag the market down for several weeks. 

 

But, enjoy this nice rally, it is a sweet spot for the bulls, all is in their favor, trade it up as far as possible, then be ready to exit and trade the market down. 

 

Then there is this:

"Trump on demoting Fed's Powell: 'Let's see what he does'"

 

Edited by dTraderB, 18 June 2019 - 08:32 PM.

[dTraderB]

Getting there, be patient

 

David Larew‏ @ThinkTankCharts

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Top watch again HGH - NYHL

1:27 PM - 18 Jun 2019

 

• 1 

 

[dTraderB]

From Cracked market:

 

 

A lot can change in a few short weeks

close

 

https://cracked.mark...ew-short-weeks/

 

[CLK]

Uh, didn't we just have that in May, now you are expecting a repeat?  Doesn't work that way.

[dTraderB]

Uh, didn't we just have that in May, now you are expecting a repeat?  Doesn't work that way.

 

A confluence of factors and events created this rally; ultimately, it will be earnings and the economy that determine if this is sustainable

 

It does not look so.

 

SPX 3000/3020 is max range for this leg up

 

I will gladly trade it higher if I am wrong.

Edited by dTraderB, 19 June 2019 - 05:31 AM.

[12SPX]

 

Getting there, be patient

 

David Larew‏ @ThinkTankCharts

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Top watch again HGH - NYHL

1:27 PM - 18 Jun 2019

 

• 1 

 

 

Interesting, this tells me its done right here and now but I don't think so either, easier to day trade it and go for the ride if it does hold lol!!

[fib_1618]

New Record SPX Highs, then the Summer leg down begins

 

You're half right.

 

Fib

[12SPX]

 

New Record SPX Highs, then the Summer leg down begins

 

You're half right.

 

Fib

 

What ever happened to your mid month low?

[dTraderB]

Will POWELL shock the market??

 

NO

 

Either a cut today or such ultra dovishness that the market will then price in a future cut

 

Then, some time later on, reality sinks in and market retreats. 

 

We have gotten the pre-FED swoon, look for more of this, possible a sharp decline as 

traders interpret the FED move and statement, and then a rally to end the day. 

 

 

[dTraderB]

Looking to buy VXX with a 25 handle and lower (now at 26.80)

 

This might be possible later today or during the next few days.