https://www.marketwa...2?mod=home-page
Posted 12 July 2020 - 05:51 PM
Posted 12 July 2020 - 11:28 PM
Posted 13 July 2020 - 07:55 AM
On the other hand since the broader market has lagged, can it be said a huge upward potential still exists in the broader market?
The fake news scare of covid-19 is very close to vanishing based on experience of Sweden who did not shut down, acquired herd immunity and has experienced only average death rates?
Broader market at MASSIVE pivot zone here.
If bulls manage to hold the gap up and Keep on Truckin' upside here today, then bulls have likely won a huge Intermediate victory.
IF SPX takes out the Island in The Sky formation from Early June (top is at 3235), then bears are most likely to get totally overrun in the stampede.
What I think may happen is that NAZ to SPX ratio may start to some down a bit, as some of the leaders consolidate, while laggards finally start to play some catch up.
Need a good strong up day today though to get this scenario under way....
In any event, these are the levels I am still using for the bull bear line on the laggards.
Dow 26100, NYA 12100, RUT 1440 TRAN 9340 ...finished just a bit under them on Friday....looking for gap up and big breakaway from those levels today to confirm the launch initiation.
Edited by K Wave, 13 July 2020 - 07:56 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
Posted 13 July 2020 - 08:00 AM
I should add that if bulls fail to get a big rally going here today, they may be just about out of time.
Anything less than gap and go here today would be a bit bit worrisome to bull picture. Bulls need a close above NYA 12200 at a minimum.
The strength of Government lies in the people's ignorance, and the Government knows this, and will therefore always oppose true enlightenment. - Leo Tolstoy
Posted 13 July 2020 - 08:14 AM
this is the sort of action bulls need to put in today.....take out those 2 islands on the Dow at the open, and keep on going
If they manage to that, bears are likely dead for some time to come.
If price were instead to get up into the island area and fail to breakthrough, and then subsequently come back under the 15 min 900, would most likely mean bulls have failed in their mission.
The strength of Government lies in the people's ignorance, and the Government knows this, and will therefore always oppose true enlightenment. - Leo Tolstoy
Posted 13 July 2020 - 08:20 AM
YM 4 hour chart also looks to be a key spot here pre-open.
Just beginning to try to assume a bullish stance with the 200 finally crossing back over the 900 upside, and momo starting to perk up.
But failure from the level it is at right now could be disastrous.
It is pretty much step on the gas coming out of the corner here for bull, or crash and burn....
Edited by K Wave, 13 July 2020 - 08:25 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
Posted 13 July 2020 - 08:35 AM
YM 4 hour chart also looks to be a key spot here pre-open.
Just beginning to try to assume a bullish stance with the 200 finally crossing back over the 900 upside, and momo starting to perk up.
But failure from the level it is at right now could be disastrous.
It is pretty much step on the gas coming out of the corner here for bull, or crash and burn....
I have the same thoughts. Although on a different time period.
The markets can move into a trading range. I'm still looking at end of Aug through Sept for a down leg.
Posted 13 July 2020 - 08:42 AM
I have the same thoughts. Although on a different time period.
The markets can move into a trading range. I'm still looking at end of Aug through Sept for a down leg.
I think if SPX takes out the early June Island in the Sky, it will make pretty much make a bee line for new All Time Highs....
Edited by K Wave, 13 July 2020 - 08:43 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
Posted 13 July 2020 - 08:44 AM
Watch Trannies here.....first 15 min candle not so promising...
The strength of Government lies in the people's ignorance, and the Government knows this, and will therefore always oppose true enlightenment. - Leo Tolstoy