SOX slipping...if bulls fail to it get back over 1970 in next few minutes, bears could be about to overrun them....
i will go way way out on a limb here just for the heck of it
Started by
gannman
, Jun 23 2020 06:07 PM
61 replies to this topic
#31
K Wave
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Posted 24 June 2020 - 09:37 AM
The strength of Government lies in the people's ignorance, and the Government knows this, and will therefore always oppose true enlightenment. - Leo Tolstoy
#32
K Wave
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Posted 24 June 2020 - 09:38 AM
next SOX target 1950...below that and bears likely start tearing the place to pieces...
The strength of Government lies in the people's ignorance, and the Government knows this, and will therefore always oppose true enlightenment. - Leo Tolstoy
#33
gannman
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Posted 24 June 2020 - 10:00 AM
k wave what level do you see as critical on the xlf
thanks my friend
feeling mellow with the yellow metal
#34
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Posted 24 June 2020 - 10:12 AM
k wave what level do you see as critical on the xlf
thanks my friend
XLF has been the weakest of the weak...already busted through the 200 hour downside.
If goes below the 15th low, then more gap filling likely..first 22, then 21..
The strength of Government lies in the people's ignorance, and the Government knows this, and will therefore always oppose true enlightenment. - Leo Tolstoy
#35
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Posted 24 June 2020 - 10:15 AM
Last night was definitely a case of this song at the 7PM pivot breach....
The strength of Government lies in the people's ignorance, and the Government knows this, and will therefore always oppose true enlightenment. - Leo Tolstoy
#36
Waver
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Posted 24 June 2020 - 10:17 AM
XLF is just another index that looks to be a clear 3 wave rally off of March's low.
Russell 2000, NYA and Transports are others.
The DOW and the SP500 are also arguably 3 wave rallies however they can be 5 wave rallies...
#37
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Posted 24 June 2020 - 10:20 AM
SOX 1950...now question is whether they go up for back test of the broken 5 min 900, or just plow right on through.....
The strength of Government lies in the people's ignorance, and the Government knows this, and will therefore always oppose true enlightenment. - Leo Tolstoy
#38
pdx5
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I want return OF my money more than return ON my money
Posted 24 June 2020 - 10:23 AM
I will decide at 3 pm if I should use my remaining cash to buy SP500 index fund today.
Good chance looks like 500 points down at closing. With mutual funds it is always closing price is what you get..
Edited by pdx5, 24 June 2020 - 10:25 AM.
"Money cannot consistently be made trading every day or every week during the year." ~ Jesse Livermore Trading Rule
#39
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Posted 24 June 2020 - 10:25 AM
XLF is just another index that looks to be a clear 3 wave rally off of March's low.
Russell 2000, NYA and Transports are others.
The DOW and the SP500 are also arguably 3 wave rallies however they can be 5 wave rallies...
the 15th low is key on SPX. below that, SPX has big problems.
Back below 15 min 900 at the big 3030 level would likely be first indication that something more sinister may be developing...
IF SPX manages to hold 3030, then no major damage yet....
The strength of Government lies in the people's ignorance, and the Government knows this, and will therefore always oppose true enlightenment. - Leo Tolstoy
#40
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Posted 24 June 2020 - 10:29 AM
XLF is just another index that looks to be a clear 3 wave rally off of March's low.
Russell 2000, NYA and Transports are others.
The DOW and the SP500 are also arguably 3 wave rallies however they can be 5 wave rallies...
the 15th low is key on SPX. below that, SPX has big problems.
Back below 15 min 900 at the big 3030 level would likely be first indication that something more sinister may be developing...
IF SPX manages to hold 3030, then no major damage yet....
the ES is breaking key trendlines right now.
ES 3024 is the 200 DMA.
ES 3027 this week's low
ES 3030 the 15 min 900 as you point out
Let's see if the bears have the power to get through all of this big time support.
RUT looks to be below the 900 hourly now.
