all I have on my monitor is saying that, as well as that the rally will last until early next year. But possibly we might still have a couple of days of weakness. I just hope and think we are not going to set up new lows in this remaining weakness......
next week....rally
Started by
andr99
, Aug 15 2019 09:38 AM
8 replies to this topic
#1
andr99
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Posted 15 August 2019 - 09:38 AM
forever and only a V-E-N-E-T-K-E-N - langbard
#2
gismeu
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Posted 15 August 2019 - 09:56 AM
With all due respect to Italy, what good is a post like that, without giving any foundation nor reasoning to the statement?
Did the person read tea leaves?
tante cose buone, gis
P.S. My view, based on Astrology, is that in early October and early November we might revisit and challenge the lop, but then it is 'take cover' for the next 18 month
If you can't buy Happiness, STEAL IT!
#3
andr99
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Posted 15 August 2019 - 01:06 PM
sorry, but with all due respect Bank of America is not italy, the Dax is not italy either and the Cac is not italy as well. On my monitor I have also the spx and the nasdaq and even these ones are not italy. The bunch of instruments (which are many) I follow are all telling me just one word....long. Although we might see some more limited weakness. The rally which should come out....should last for months. More like next Feb than Nov.....
As for the tea leaves....who knows....one day I might try to forecast the stock market using this new idea...it might work.
forever and only a V-E-N-E-T-K-E-N - langbard
#4
tradesurfer
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Posted 15 August 2019 - 01:38 PM
next week rally ??? how about that WEEKLY macd sell signal on IWM looking the same as in September 2008 ???
#5
andr99
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Posted 15 August 2019 - 02:14 PM
I don' t want to convince anybody, for sure. Just a little reasoning here....take a look at the nasdaq. The deep correction which almost always preceeds the last bull' s rise, was in 2018. The bottom was on the 24th of Dec. Then the last rise, as per my view, began. The correction which is underway is just a continuation pattern. This correction might end at around 7700 (as I believe) or bring the index as low as 7300. The pattern would remain LT bullish because these W continuation figures are very common. On the other hand if 7300 is broken down heavily....the bull is over. This is not what my personal LT indicator is telling me. So I favour the odds of a continuation pattern with a break up in a few time. As for the weekly macd sell signal you said...it's not my favourite and I guess it will give soon a contra signal i.e. buy......Now look at Bank of America and tell me what you see. I see a large inverse H&S in the making. Which means financials are going to rise. Take a look at the Cac....same pattern as Bank of America. Wherever I look at I see just one adjective........bullish. I might spend hours with other examples. The difficult part might be to find the exact bottom of this correction, but the action which will come after is clear to me. In any case I don' t pretend to have the truth and I rescpect the opinion of everyone. I might also be fully wrong......time will tell. I fully recpect my LT indicator in any case and it is clear.....
Edited by andr99, 15 August 2019 - 02:15 PM.
forever and only a V-E-N-E-T-K-E-N - langbard
#6
andr99
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Posted 15 August 2019 - 03:10 PM
what is not clear to me is if we have bottomed here or we need two more days to make a bottom
forever and only a V-E-N-E-T-K-E-N - langbard
#7
LMF
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Posted 15 August 2019 - 04:09 PM
Should be more chop with the daily MACD still below zero. But the NDX is showing higher highs and higher lows since the December low......it cant be bearish yet.
#8
gismeu
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Posted 15 August 2019 - 04:17 PM
sorry, but with all due respect Bank of America is not italy, the Dax is not italy either and the Cac is not italy as well. On my monitor I have also the spx and the nasdaq and even these ones are not italy. The bunch of instruments (which are many) I follow are all telling me just one word....long. Although we might see some more limited weakness. The rally which should come out....should last for months. More like next Feb than Nov.....
As for the tea leaves....who knows....one day I might try to forecast the stock market using this new idea...it might work.
LOL, I said ltaly because I believe you are Italian.
Now what you posted here is something I can work with, your computer screen not so much.
Ciao, gis
If you can't buy Happiness, STEAL IT!
#9
andr99
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Posted 16 August 2019 - 12:53 AM
sorry, but with all due respect Bank of America is not italy, the Dax is not italy either and the Cac is not italy as well. On my monitor I have also the spx and the nasdaq and even these ones are not italy. The bunch of instruments (which are many) I follow are all telling me just one word....long. Although we might see some more limited weakness. The rally which should come out....should last for months. More like next Feb than Nov.....
As for the tea leaves....who knows....one day I might try to forecast the stock market using this new idea...it might work.
LOL, I said ltaly because I believe you are Italian.
Now what you posted here is something I can work with, your computer screen not so much.
Ciao, gis
Sono di Verona......I' m from Verona.....Lake Garda bounderies
Ciao
forever and only a V-E-N-E-T-K-E-N - langbard
