Jump to content



Photo

The C word - market acting very weak, could plunge


  • Please log in to reply
52 replies to this topic

#31 robo

robo

    Member

  • Traders-Talk User
  • 987 posts

Posted 05 August 2019 - 08:49 AM

Some good VST trading today!   Long TZA and VXX day- trade  Stopped out of my XES trade....  looking to try again later.....

 

https://stockcharts....614&a=680489318

 

 

Daily trend trading data....

 

https://stockcharts....497&a=680489794


Edited by robo, 05 August 2019 - 08:54 AM.

“There is only one side to the stock market; and it is not the bull side or the bear side, but the right side”   Jesse L. Livermore


#32 robo

robo

    Member

  • Traders-Talk User
  • 987 posts

Posted 05 August 2019 - 09:16 AM

 

 

 

 

 

Why I’m Buying Stocks This Morning

The stock market is now set up for a nice, solid, three- or four-day bounce.

On Friday, we noted the potential for a Volatility Index (VIX) buy signal. That hasn’t happened yet. The VIX closed above its upper Bollinger Bandagain on Friday – making it three days in a row. It’s rare for that to happen on four straight days. So, I’m buying stocks this morning in anticipation of a VIX buy signal this afternoon.

But, the VIX isn’t the only indicator that’s telling us a bounce is near. 

Recommended Link   —

The McClellan Oscillators (NAMO and NYMO) have also dipped into oversold territory. They’re at levels that often mark short-term bottoms for the stock market.

 

 

This is a trader’s market. In order to profit, you have to be willing to get into a position and then get out of it just a few days later.

https://www.jeffclarktrader.com/

Follow-up from Weekly Report: Confirming now that Monthly, Weekly, Daily, Two-hour are ALL in downtrends. All TRENDS Are Down- but we expect a bounce from oversold at some point soon

 

Odds continue to increase for a bounce - "but we expect a bounce from oversold at some point soon"


Edited by robo, 05 August 2019 - 09:18 AM.

“There is only one side to the stock market; and it is not the bull side or the bear side, but the right side”   Jesse L. Livermore


#33 redfoliage2

redfoliage2

    Member

  • Traders-Talk User
  • 12,712 posts

Posted 05 August 2019 - 09:30 AM

SPX 2870 now acting as a ST support and let's see if it's going to hold by the close today..............


Edited by redfoliage2, 05 August 2019 - 09:31 AM.


#34 dTraderB

dTraderB

    Member

  • Traders-Talk User
  • 5,507 posts

Posted 05 August 2019 - 09:31 AM

Why I’m Buying Stocks This Morning

The stock market is now set up for a nice, solid, three- or four-day bounce.

On Friday, we noted the potential for a Volatility Index (VIX) buy signal. That hasn’t happened yet. The VIX closed above its upper Bollinger Bandagain on Friday – making it three days in a row. It’s rare for that to happen on four straight days. So, I’m buying stocks this morning in anticipation of a VIX buy signal this afternoon.

But, the VIX isn’t the only indicator that’s telling us a bounce is near. 

Recommended Link   —

The McClellan Oscillators (NAMO and NYMO) have also dipped into oversold territory. They’re at levels that often mark short-term bottoms for the stock market.

 

 

This is a trader’s market. In order to profit, you have to be willing to get into a position and then get out of it just a few days later.

https://www.jeffclarktrader.com/

 

 

I am also thinking for buying a few ETF  - banks, energy etc 

 

But they are still selling into every rally

 

Maybe it will get less intense and I may be convinced to buy a few 



#35 dTraderB

dTraderB

    Member

  • Traders-Talk User
  • 5,507 posts

Posted 05 August 2019 - 09:32 AM

SPX 2870 now acting as a ST support .............

 

 

heavy selling so far...



#36 dTraderB

dTraderB

    Member

  • Traders-Talk User
  • 5,507 posts

Posted 05 August 2019 - 09:33 AM

Some attempts so far to rally the market so expect a 10 to 15 point SPX move up



#37 redfoliage2

redfoliage2

    Member

  • Traders-Talk User
  • 12,712 posts

Posted 05 August 2019 - 09:57 AM

Some attempts so far to rally the market so expect a 10 to 15 point SPX move up

I went covered earlier today and now need to see where will be the close today for ST perspectives ............



#38 dTraderB

dTraderB

    Member

  • Traders-Talk User
  • 5,507 posts

Posted 05 August 2019 - 09:59 AM

Closed 7 QQQ puts 

 

Still holdng 11



#39 blustar

blustar

    blustar

  • Traders-Talk User
  • 5,358 posts

Posted 05 August 2019 - 10:28 AM

To me, this looks like a c of Z bottom here and that means much higher prices into the 16 TD top due around the 19/20th.  I'm thinking the 3090's SPX.  This has capitulation written all over it.  I believe we could see a move above 3000 by week's end.



#40 dTraderB

dTraderB

    Member

  • Traders-Talk User
  • 5,507 posts

Posted 05 August 2019 - 11:52 AM

a bounce is long overdue

 

will it be a dead-cat bounce? 

 

15 to 20 SPX points possible  to SPX 2875