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what the hell, out on a limb. the 1850ish low marks the bottom of this correction. the next leg higher begins now


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#1401 linrom1

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Posted 09 March 2021 - 10:11 AM

 

For the DOW, keep your eye on XLF.....Financials pretty much all that is holding up now.

 

IF XLF breaks its 5 min 900 downside, Dow rollover likely begins....

 

With Nasdaq senitment hitting the lowest in a year yesterday, I do see the possibility (but by no means certainty) of one final launch to new highs for the Dow / Trannies / XLF, while other indexes lag badly....

Still looking for Nasdaq crash into April time frame, not 100% certain how the zigs and zags will play out in getting to the setup point, but at some point, we will likely have a secondary lower top that rolls over into a crash wave.

That is when we see actual panic in some of these Fang stocks that have just popped the biggest bubble in the history of the world....

 

Nice comments.  Do not forget XLE is important part of this late stage rally.  Keep an eye on /CL and XLE for a heads-up that they are ready to pull the rug (along with XLF).

 

LOL, same thinking here.



#1402 K Wave

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Posted 09 March 2021 - 10:11 AM

 

For the DOW, keep your eye on XLF.....Financials pretty much all that is holding up now.

 

IF XLF breaks its 5 min 900 downside, Dow rollover likely begins....

 

With Nasdaq senitment hitting the lowest in a year yesterday, I do see the possibility (but by no means certainty) of one final launch to new highs for the Dow / Trannies / XLF, while other indexes lag badly....

Still looking for Nasdaq crash into April time frame, not 100% certain how the zigs and zags will play out in getting to the setup point, but at some point, we will likely have a secondary lower top that rolls over into a crash wave.

That is when we see actual panic in some of these Fang stocks that have just popped the biggest bubble in the history of the world....

 

Nice comments.  Do not forget XLE is important part of this late stage rally.  Keep an eye on /CL and XLE for a heads-up that they are ready to pull the rug (along with XLF).

 

Goldman already put the top in there....

https://www.zerohedg...price-target-80


The strength of Government lies in the people's ignorance, and the Government knows this, and will therefore always oppose true enlightenment. - Leo Tolstoy

 

 


#1403 K Wave

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Posted 09 March 2021 - 10:22 AM

Remember, in bear moves, the very favorite thing that they love to do is put in throwover tops, before the next down wave begins.

 

So...IF...this attempted breakout on GDX does not hold, and it takes out 31, be prepared for a major escalation in speed of the down move into what likely would be a panic low bottom.

 

This breakout over 32 needs to HODL....

 

7 day bottom building give bulls the benefit of doubt here, but have your stops ready if it all starts to go south....


Edited by K Wave, 09 March 2021 - 10:23 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

 

 


#1404 linrom1

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Posted 09 March 2021 - 11:14 AM

Remember, in bear moves, the very favorite thing that they love to do is put in throwover tops, before the next down wave begins.

 

So...IF...this attempted breakout on GDX does not hold, and it takes out 31, be prepared for a major escalation in speed of the down move into what likely would be a panic low bottom.

 

This breakout over 32 needs to HODL....

 

7 day bottom building give bulls the benefit of doubt here, but have your stops ready if it all starts to go south....

Yes, buying miners at the bottom of today's range is probably a good bet. Gold is just off its daily highs yet miners like GDX and NEM respectively retraced 50 and 68% of its move.



#1405 K Wave

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Posted 09 March 2021 - 12:55 PM

Anyone else think the totally 100% fully priced in Stimulus bill passing tomorrow could be one of the most Epic Sell the News events ever?

 

Crude, which often leads at turns, may be hinting.........


The strength of Government lies in the people's ignorance, and the Government knows this, and will therefore always oppose true enlightenment. - Leo Tolstoy

 

 


#1406 K Wave

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Posted 09 March 2021 - 01:36 PM

Rare Nessie sighting on the Trannies.

 

Catch her quick as she peeks her head over the 13700 waterline, as she may be just about to dive deep back into the Loch Ness

 

Note the momo config at the bottom...tomorrow could be interesting......

 

ness.png

 

 


The strength of Government lies in the people's ignorance, and the Government knows this, and will therefore always oppose true enlightenment. - Leo Tolstoy

 

 


#1407 dougie

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Posted 09 March 2021 - 01:48 PM

Anyone else think the totally 100% fully priced in Stimulus bill passing tomorrow could be one of the most Epic Sell the News events ever?

 

Crude, which often leads at turns, may be hinting.........

any fav short targets?



#1408 K Wave

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Posted 09 March 2021 - 02:35 PM

 

Anyone else think the totally 100% fully priced in Stimulus bill passing tomorrow could be one of the most Epic Sell the News events ever?

 

Crude, which often leads at turns, may be hinting.........

any fav short targets?

 

Tesla is up 100 today...gotta luv bear market rallies....

 

But seriously, the ones that have been weak in the tech sector, short the big bounces now...caution, they can go a bit higher than you expect and quickly....

 

If you want to try and tippy top 'em...Energy, Financials, Airlines, Hotels...

 

And this is assuming that the market does indeed behave consistently with a Sell The News top tomorrow.


Edited by K Wave, 09 March 2021 - 02:37 PM.

The strength of Government lies in the people's ignorance, and the Government knows this, and will therefore always oppose true enlightenment. - Leo Tolstoy

 

 


#1409 dougie

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Posted 09 March 2021 - 03:26 PM

tsal does look to me like we saw the ATHs already but i would rahter short this near 750



#1410 dharma

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Posted 09 March 2021 - 03:35 PM

also keep in mind the cpi comes out @830 am tomorrow . last march crude oil was $20bbl today it is over 60 the yoy inflation #is going to be somewhat significant , this may scare some folks.  the bond auctions continue tomorrow lots of cross currents here. 

w. gold golng down day after day and the miners not following gold down is a signal the sector is finding footing . tomorrow is the 1st day for a turn in the gold market it continues through the 12th .

dharma

kwave  i found this piece interesting https://www.goldisab...rway.com/vp0170


Edited by dharma, 09 March 2021 - 03:39 PM.