6 replies to this topic

[opinionated]

On a side note bears are crawling over themselves talking her down.  As I said in another post that has cost me so much money in the past, far more that I'd like to admit.  We could be on the cusp of a longer swing down.  I think we have another week of up going into the end of the month but a Down first week in Aug. That one has more potential IMHO...

 

I know CT was short for this cycle, and a few others.  If you see this CT mind sharing your thoughts on this being a smaller swing... (This Week) then a bigger one in Aug.

 

Thanks

 

[LMF]

It really is getting laughable on TQQQ one min chart...... Im watching 7900 on the NDX which is the breakout level going higher. Theyre trying in vain to churn it lower, and get more inventory I guess. But I really think its the opposite......let it run higher and see where it flames out. Theyre doing it the hard way in my opinion.

[LMF]

Then I saw somebodys SPX analysis for the 5 days from the close on the day JPM releases earnings which was yesterday. Going back to 2011......30-3 record.

[trioderob]

Dow transports down huge 

[opinionated]

Then I saw somebodys SPX analysis for the 5 days from the close on the day JPM releases earnings which was yesterday. Going back to 2011......30-3 record.

 

 

Thanks,

 

They have sold off all the banks earnings good or bad.  Rotation I guess...  Sell off into the close but RUT never did test the lows where I got out.  To me that floor they have built at 1547-1550 needs to break before it gets real.  My target for the spx at the top on a ST swing low was 2985ish...  So if my original train of thought plays out we bottom in here and try at 3030 again.

 

I entered LULU 192.50c 7-26 around 189.80 and WPM 27.50c 8-02 around 25.60

 

Thanks for sharing your thoughts.  

 

*od Bless

[slupert]

iF you don't see new highs after next Thursday, this market is not going to break out. (JMHO)

[Rich C]

I am cautious, which has me buying smaller lots than usual.  Since we are clearly above triple top old resistance at 2950, it looks to me like the market wants to go up.  I just can't see it going up too far or with much enthusiasm. I am not a futurologist.  I have no idea what the market will do in a week or a month.  I just pay daily attention to the chart and try to get with the current secondary move of the market.  It seem like both up and down moves are short duration lately, so I will buy a pullback and be out of it quicker than usual when I can take a little profit.

 

It seems the market is swinging more on Fed rate cut and China trade war news.  Nobody is mentioning Friday's GDP number for Q2, first estimate.  Consensus is for +2.0% and I think the market would not take that well, unless it is truly obsessed with the rate cut coming 7/31.