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The 'Mother' Of All Melt-Ups - Markets Surges Back To Overbought As Investors Go ‘All In’“


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#1 dTraderB

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Posted 11 April 2021 - 12:14 PM

The Week On Wall Street: The 'Mother' Of All Melt-Ups

Summary
Despite the recent breakout in the S&P 500, the stock market is NOT in a "bubble".
Global PMI reports continue to impress and support the Bullish price action.
Despite the continuing roadblocks, the latest JOLTS report indicates the labor market is in extraordinary shape.
https://seekingalpha...of-all-melt-ups

#2 dTraderB

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Posted 11 April 2021 - 12:16 PM

I do not trade Overbought or oversold mainly because markets can be in extreme mode for days, weeks, or longer.

Markets Surges Back To Overbought As Investors Go All In
https://realinvestme...all-in-04-10-21

#3 dTraderB

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Posted 11 April 2021 - 12:18 PM

My SPX 4100 target was hit. Should pull back soon.

Holger Zschaepitz (@Schuldensuehner) tweeted at 1:07 pm on Sat, Apr 10, 2021:
Buffett Bubble indicator raises the alarm as the total US mkt cap has risen >200% of US GDP. But maybe in times of money printing, we have to look at the markets in a whole new way! https://t.co/dW1VCiq7Tp

#4 dTraderB

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Posted 11 April 2021 - 12:18 PM

Dougie Kass (@DougKass) tweeted at 6:42 pm on Fri, Apr 09, 2021:
Today was the lightest volume day of the year.
Down volume exceeded up volume.
Enjoy the weekend.
(https://twitter.com/...5909789701?s=03)

#5 dTraderB

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Posted 11 April 2021 - 12:20 PM

Another MELT-UP forecast

Sentiment Speaks: Time For A Market Melt-Up

https://seekingalpha...-market-melt-up

#6 dTraderB

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Posted 11 April 2021 - 12:23 PM

JEROME POWELL ON 60 MINUTES TODAY

What is expected to be a solid earnings season gets underway in the week ahead with the major banks the first to report.
There is also some key economic data, the most important of which is the consumer price index Tuesday - even more important after a surprise jump in producer inflation in March.
The consumer is also front and center in the coming week, with the March retail sales report expected to show the impact of fiscal stimulus checks on spending.
Fed Chairman Jerome Powell appears on 60 Minutes, kicking off another busy week for Fed speakers.

https://www.cnbc.com...for-stocks.html

#7 dTraderB

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Posted 11 April 2021 - 12:27 PM

Reminds me of a DOT-COM era headline

Why it doesnt matter if this bull market is built on a house of cards

https://cracked.mark...house-of-cards/

#8 dTraderB

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Posted 11 April 2021 - 12:38 PM

I am looking at a similar DAYTRADE strategy:

JAY:
Plan April 11/12th 2021.

ES_F Pivot = 4111
I want to try small longs here or at 4120 for attempts on 4140-4144 where I may consider initiating some shorts during RTH.

NQ_F
Pivot = 13758
Longs above targeting: 13880, 13950, 14k.
Shorts below targeting: 13720, 13696.

#9 dTraderB

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Posted 11 April 2021 - 08:17 PM

Adam Mancini (@AdamMancini4) tweeted at 5:15 pm on Sun, Apr 11, 2021:
Many people asking when this bull market/bull run ends and the only honest answer is 1) Nobody knows and 2) When supports break

Markets make it clear when the trend changes by losing long term trendlines or prior breakout levels. Until then, trend is up & bias is buy pullbacks
(https://twitter.com/...3084642304?s=03)

#10 dTraderB

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Posted 11 April 2021 - 08:19 PM

ADAM:
Note: As shown ideal we see abit of a dip Monday or Sunday then surge to 4160 where we can get a more protracted cool off. Should be buyable though at the levels shown for a rally into the 4260 next up
Have a great weekend! After 3 big green weeks, #ES_F is near key resistance - that of a perfect six month "megaphone" pattern at 4160

Plan next week: Resistance is 4120 then 4160 where I'd like a cool off. As long as 4k holds though, this is bullish into April/May. Pathway below https://t.co/59kYxT2U1c
(https://twitter.com/...5076853761?s=03)