Jump to content



Photo

2.9% Drop Expected

SPX

  • Please log in to reply
13 replies to this topic

#1 blustar

blustar

    blustar

  • Traders-Talk User
  • 5,424 posts

Posted 29 July 2019 - 02:56 PM

Here is what I just wrote my subs:

 

I have a TLC low due early Thursday ... target is about 2939/40 SPX.  Should tag 2948 late Wednesday. Stochastics, MACD, A/D Line, RSI and OBV daily failures on the SPX Friday.

 
Bottom line: a 2.9% pull back "top to bottom" looks to be in the offing into early Thursday to near 2939/40, the Oct 2018 topping area.  August 1 looks to be the low.  It looks like an inversion of the dominant to sub-dominant cycle.  A 6 TD rally into the 8th of August minimum looks likely into the 3040's.  A double top on the 19th would be the next expectation.  The 19th to the 28th of August looks like a big drop!!
 

 



#2 trioderob

trioderob

    Member

  • Traders-Talk User
  • 993 posts

Posted 29 July 2019 - 10:36 PM

does the feds rate decision on Wen come into play at all with regards to what the market does this week - yes or no ?

 

in other words,  does it matter if Fed Powell states a no cut - 75  point cut or .50 increase  on Wen ???



#3 An Ant

An Ant

    Member

  • Traders-Talk User
  • 180 posts

Posted 30 July 2019 - 10:55 AM

I think it's unfair to criticise anyone on this forum or  elsewhere on this site.

 

If you don't agree then disregard.



#4 tsharp

tsharp

    Member

  • Traders-Talk User
  • 1,185 posts

Posted 30 July 2019 - 11:45 AM

My work is pointing to an IT decline, and has, since 1.4.19, so whatever the Fed does, it will not be liked, but then it also seems likely that a trade deal with China will be the catalyst in ~Sept to push the SPX back upward into year's end... twt.

 

SP00-D-7-30-19.jpg



#5 blustar

blustar

    blustar

  • Traders-Talk User
  • 5,424 posts

Posted 30 July 2019 - 01:30 PM

Updated my blog with charts



#6 blustar

blustar

    blustar

  • Traders-Talk User
  • 5,424 posts

Posted 30 July 2019 - 03:04 PM

I was wondering why you are still forecasting something about trading

Do you have a real job?

 

For what it's worth, I was only member who correctly voted that today would be bearish on the daily poll. I'm looking for SPX 3031/32 tomorrow and 2940/41 on Thursday.smile.png



#7 trioderob

trioderob

    Member

  • Traders-Talk User
  • 993 posts

Posted 30 July 2019 - 03:44 PM

you got lucky 

 

both small and mid caps were up about 1% 



#8 blustar

blustar

    blustar

  • Traders-Talk User
  • 5,424 posts

Posted 30 July 2019 - 11:01 PM

No luck involved. It was a cycle low. The next is larger on Aug 1

#9 Spectacular Bid

Spectacular Bid

    Member

  • Traders-Talk User
  • 816 posts

Posted 31 July 2019 - 10:58 AM

I think it's unfair to criticise anyone on this forum or  elsewhere on this site.

 

If you don't agree then disregard.

I generally agree and don't believe I've ever criticized anyone other than BluStar and try to uplift and encourage others, but there is a thing called credibility. When someone has been continually wrong for years, not just the months most know about, and rarely follows up on these mostly terrible and outrageous calls, and charges for a subscription service on top of all that, then it has to be called out. Sorry if that offends you. Thankfully I've never subscribed and I do have him on ignore, but sometimes I can't help myself and take a peek.



#10 dowdeva

dowdeva

    Member

  • Traders-Talk User
  • 449 posts

Posted 31 July 2019 - 04:07 PM

 

  •  
  • Traders-Talk User
  • 875 posts
  •  

 

I was wondering why you are still forecasting something about trading

Do you have a real job?

 

 

                                          It's truly amazing

He's made some truly amazing, spot on posts.  Everyone here has made incorrect calls.







Also tagged with one or more of these keywords: SPX