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To Revisit the Low Made Last Week


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#31 redfoliage2

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Posted 07 June 2022 - 11:00 AM

SPX showing an orderly consolidation pattern in the range 4080 - 4165.  This setup is more likely for a bullish breakout of the range  ...................



#32 redfoliage2

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Posted 07 June 2022 - 01:54 PM

Likely more consolidation for tomorrow ...................


Edited by redfoliage2, 07 June 2022 - 01:57 PM.


#33 redfoliage2

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Posted 08 June 2022 - 09:27 AM

 

SPX showing an orderly consolidation pattern in the range 4080 - 4165.  This setup is more likely for a bullish breakout of the range  ...................

 

It looks the consolidation is likely about done here.  An upside breakout of the range is in the cards  ........................


Edited by redfoliage2, 08 June 2022 - 09:31 AM.


#34 redfoliage2

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Posted 08 June 2022 - 08:51 PM

Still up and down in the range, it's just waiting for a trigger - maybe the CPI data on Friday.......................



#35 redfoliage2

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Posted 09 June 2022 - 09:21 AM

Likely this dip is just another trip in the range and will be bought again ............................


Edited by redfoliage2, 09 June 2022 - 09:21 AM.


#36 redfoliage2

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Posted 09 June 2022 - 12:08 PM

 After having huge gains from two weeks ago the market is just doing sideways in consolidation amid all the worries.  I see the market is sending a clear message  -  it had made an IT bottom and wants to go further higher. 

In order for the market to go further north from this consolidation it needs a trigger.  In the next two weeks there are quite a few potential triggers including one from tomorrow's CPI.....................


Edited by redfoliage2, 09 June 2022 - 12:14 PM.


#37 redfoliage2

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Posted 10 June 2022 - 09:46 AM

What a distorted reaction to the CPI data.  The data must have been leaked out yesterday with distorted interpretation to create a down momentum.  But the facts - Core CPI MOM unchanged, Core CPI YOY actually dropped from 6.2% to 6.0%.   So the data still pointing to a peaking inflation.  The market just got a distorted reaction, but the Fed will not.  Mr. Market should soon realize and recover from this false action.  I see the market will end the month higher from here ..........................


Edited by redfoliage2, 10 June 2022 - 09:55 AM.


#38 redfoliage2

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Posted 14 June 2022 - 11:42 AM

Selling overdone and dried up!  At this juncture SPX 3730 it's likely a good place for a 100-point oversold bounce  .................


Edited by redfoliage2, 14 June 2022 - 11:47 AM.


#39 redfoliage2

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Posted 14 June 2022 - 05:43 PM

Take a look at NYAD, that actually indicates buying programs started today...............


Edited by redfoliage2, 14 June 2022 - 05:44 PM.


#40 redfoliage2

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Posted 15 June 2022 - 02:51 PM

My updates moved here at the top:

 

https://www.traders-...6940-st-market/