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IT LONG TREND INTACT - Top this week


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#1 dTraderB

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Posted 15 August 2020 - 04:18 PM

ADAM:

My top target in $SPX remains 3530-3600: Resistance of the "megaphone"from 2009

This resistance though has been tested 9 times. It may seem unthinkable to some, but this makes it vulnerable to break *up* after an initial sell, which puts 4000 in sight into 2021. Stay open minded

#2 dTraderB

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Posted 15 August 2020 - 04:18 PM

Most likely, a ST TOP next week.

#3 dTraderB

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Posted 15 August 2020 - 04:20 PM

EMIMI TIC:
Another view:
Yes I believe we will test the lows

Its only a matter of time before Kamala and Joe jump ahead in polls

Once we retest 3550-3600 its a long way down one way road to 1833 on election night or by January 20

#4 da_cheif

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Posted 15 August 2020 - 07:39 PM

EMIMI TIC:
Another view:
Yes I believe we will test the lows

Its only a matter of time before Kamala and Joe jump ahead in polls

Once we retest 3550-3600 its a long way down one way road to 1833 on election night or by January 20

wrong



#5 da_cheif

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Posted 15 August 2020 - 07:41 PM

ADAM:

My top target in $SPX remains 3530-3600: Resistance of the "megaphone"from 2009

This resistance though has been tested 9 times. It may seem unthinkable to some, but this makes it vulnerable to break *up* after an initial sell, which puts 4000 in sight into 2021. Stay open minded

right.....but   to conservative on the upside



#6 dTraderB

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Posted 16 August 2020 - 07:42 AM

 

ADAM:

My top target in $SPX remains 3530-3600: Resistance of the "megaphone"from 2009

This resistance though has been tested 9 times. It may seem unthinkable to some, but this makes it vulnerable to break *up* after an initial sell, which puts 4000 in sight into 2021. Stay open minded

right.....but   to conservative on the upside

 

 

whatever you say , chief, knew you since Silicon Investor days! 
ST top, maybe even IT top, before any major rally that moves above SPX 3400 weekly close
 



#7 dTraderB

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Posted 16 August 2020 - 07:43 AM

POLL - where next for the next SPX 100 points? 

62% up, 38% down
Not necessarily the "crowd is wrong" but they are this time! 

 

I've been busy with morons today so apologies for being late with the results of my Saturday poll. Thanks once again to all who voted. Appreciate it.


#8 dTraderB

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Posted 16 August 2020 - 07:48 AM

BOLDED BRADLEY? what's that? 

 

 

Not sure it means anything but I hadn't realized that the RUT (IWM) closed near the low of the week.
 
Reminder that there is a bolded Bradley date coming this week.
 
Friday's equity put/call ratio was highest since 7/31

SPX red (barely) two straight days. Hasn't gone 3 since early June.
 
10 dma of NYSE highs rolling over for the first time.
 
Naz new highs dropped off
 
NYSE stocks at new highs sorta fell off a cliff this week.
 


#9 dTraderB

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Posted 16 August 2020 - 07:49 AM

Actually, F&G can go higher for weeks, see last 3 to 3 years

 

 
 
T0b_1zEP_bigger.jpg
 
 
Fear and Greed at 72. Over time this has generally been the area of a reversal. Since 2017 it has marked a peak 4 times although major peaks have come close to 95 twice in that same timeframe.


#10 dTraderB

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Posted 16 August 2020 - 07:51 AM

Near max euphoria ---  irrational exuberance

 

Citi Panic/Euphoria