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Short QQQ to fill the gap


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#41 tradesurfer

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Posted 26 October 2019 - 07:06 PM

The only case I can make at this point for the SPX to be making a serious major top at this time is on the quarterly candlestick bars.  There are two of them and they look similar to the two QUARTERLY HANGING MAN candlestick bars that happened at 2007 top AND 2000 top

 

The problem is the current quarter is not over yet.. There are about 40 to 50 more trading days left to complete the bar.

 

IF we are at a major major top now then we should NOT for the next 40 to 50 trading days push dramatically higher in price.  why?  because then it would ruin the look of the TWO quarterly HANGING MAN candlesticks same as seen in 2007 and 2000

 

if you are a bear then you do NOT want to see new highs this week or next week, rather as a bear you want to see struggling to make new highs for the next 40 to 50 trading days



#42 skott

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Posted 28 October 2019 - 01:42 PM

it's tough being short but Natgas is up about 5%, shorts are down 3%. VIX is saying "this is a top" and perhaps a big one.

#43 skott

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Posted 28 October 2019 - 09:47 PM

another low volume affair. Gaps up into topping tails with low volume. VIX saying top. lots of non confirmations out there. as always, I could be wrong.



#44 skott

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Posted 29 October 2019 - 10:13 AM

margin debt not looking good for the Bulls. Bullish sentiment on Naz futures is nosebleed. Vix signaling top

https://seekingalpha...9-10-19-article

Edited by skott, 29 October 2019 - 10:14 AM.


#45 skott

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Posted 29 October 2019 - 04:53 PM

Naz100 bullish % was 83 Monday. That's pretty high, very high



#46 skott

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Posted 30 October 2019 - 08:16 PM

keep an eye on the 30 year bond. it has made a higher low with this new stock market high and is turning up this week despite new stock highs. this is the canary warning you $$ is going into bonds which if it is telling us that, then money will be flowing out of stocks soon. We've had a long long sideways to slightly up stock market for over a year. that is another sign the market is rolling over.



#47 skott

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Posted 31 October 2019 - 09:34 AM

and guess what?  30 yr bond up a little over 1% TODAY



#48 skott

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Posted 31 October 2019 - 09:53 AM

S&P and Naz100 both reached 80% bullish among the futures traders yesterday. Next week cycles are strongly down for a couple weeks or more



#49 skott

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Posted 31 October 2019 - 01:48 PM

S&P is pulling back to test the breakout. 3020 is roughly the key level that would need to hold.