going a lot higher imho
dow destroys 200dma
Started by
gannman
, Jul 13 2020 12:46 PM
7 replies to this topic
#1
gannman
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Posted 13 July 2020 - 12:46 PM
feeling mellow with the yellow metal
#2
gannman
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Posted 13 July 2020 - 03:44 PM
oops maybe not really bad close
feeling mellow with the yellow metal
#3
Russ
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Posted 13 July 2020 - 04:32 PM
looking like a double top, refusing to close the gap, possible going down into August or more from what I can see...
"Nulla tenaci invia est via" - Latin for "For the tenacious, no road is impossible".
"In order to master the markets, you must first master yourself" ... JP Morgan
"Most people lose money because they cannot admit they are wrong"... Martin Armstrong
http://marketvisions.blogspot.com/
"In order to master the markets, you must first master yourself" ... JP Morgan
"Most people lose money because they cannot admit they are wrong"... Martin Armstrong
http://marketvisions.blogspot.com/
#4
diogenes227
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Posted 13 July 2020 - 05:31 PM
Oops may be right.
The Nasdaq 100 rallied more than 2% intraday to set an all-time high, then reversed to close down by more than 1%.
It's done that twice. Today was one.
March 7, 2000 was the other.
To give credit where credit is due, I lifted that from SentimentTrader on Twitter: The chart below is also from him or her:
Edited by diogenes227, 13 July 2020 - 05:34 PM.
"If you've heard this story before, don't stop me because I'd like to hear it again," Groucho Marx (on market history?).
“I've learned in options trading simple is best and the obvious is often the most elusive to recognize.”
"The god of trading rewards persistence, experience and discipline, and absolutely nothing else."
#5
CLK
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Posted 13 July 2020 - 06:18 PM
Days like today are tough on position traders long. I know why bears like to short, they get paid in 2 hrs what takes bulls several days to make. I thought we would get maybe to 3177 with the divergences on the 1 hr, but the level of selling into strength today doesn't make much sense to me with the 5hr just starting a new uptrend. We didn't get this much selling in May on the break of resistance. I mean today was good for futures day traders short, but it seems unwarranted like 90% to drop this much.
#6
CLK
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Posted 13 July 2020 - 06:31 PM
Having fun yet after a long weekend?
#7
gannman
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Posted 13 July 2020 - 09:42 PM
i will watch the sox here you could say it completed 5 waves up
it is not clear . we will see
if it did it is going to get creamed so it will be a good tell
Edited by gannman, 13 July 2020 - 09:45 PM.
feeling mellow with the yellow metal
#8
Russ
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Posted 14 July 2020 - 12:27 AM
i will watch the sox here you could say it completed 5 waves up
it is not clear . we will see
if it did it is going to get creamed so it will be a good tell
Sox is giving even worse trends for a low into mid Sept. However because the others are showing mid August I am skeptical of those trends.
"Nulla tenaci invia est via" - Latin for "For the tenacious, no road is impossible".
"In order to master the markets, you must first master yourself" ... JP Morgan
"Most people lose money because they cannot admit they are wrong"... Martin Armstrong
http://marketvisions.blogspot.com/
"In order to master the markets, you must first master yourself" ... JP Morgan
"Most people lose money because they cannot admit they are wrong"... Martin Armstrong
http://marketvisions.blogspot.com/
