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Tom DeMark Expecting Low Soon According to Marketwatch.com


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#1 Douglas

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Posted 20 May 2022 - 08:02 AM

Tom DeMark almost has a complete 13 count down meaning a rally is expected soon according to the Marketwatch.com article at the following location:   The technician who called the 2020 market bottom says a 'shocking rally' is in store - MarketWatch  .  DeMark is expecting a big 62% bear choking retracement up to 4453 S&P.  

 

My own trading system is standing on the table and screaming buy, and yesterday's risk window appears to have tagged a low, so I can't argue with DeMark's optimism.  

 

Regards,

Douglas



#2 linrom1

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Posted 20 May 2022 - 09:06 AM

Tom DeMark almost has a complete 13 count down meaning a rally is expected soon according to the Marketwatch.com article at the following location:   The technician who called the 2020 market bottom says a 'shocking rally' is in store - MarketWatch  .  DeMark is expecting a big 62% bear choking retracement up to 4453 S&P.  

 

My own trading system is standing on the table and screaming buy, and yesterday's risk window appears to have tagged a low, so I can't argue with DeMark's optimism.  

 

Regards,

Douglas

Is the rally like David Hunters's to 6,000?



#3 Douglas

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Posted 20 May 2022 - 10:40 AM

linron1, I had never heard of David Hunter before.  I watched his youtube video from a month or so ago at Macroeconomist David Hunter on Private Market Valuations, VC Markdowns & Unicorns! - YouTube where he was called for 6000 S&P later this year.  He apparently thinks Powell will panic and increase pumping if the economy starts to stall.   I guess the next Powell test comes in the June FED meeting on I think the 14th and 15th.  They will have the June 10th inflation data in hand to make their interest rate decision.  If they chicken out and don't raise by 0.5%, then maybe this Hunter fellow is on to something.  Given Powell appears to be about half Rhode Island Red, that wouldn't really surprise me too much.  Time, as always, will tell the tale.  

 

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Douglas



#4 Douglas

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Posted 20 May 2022 - 11:01 AM

Well, hell's bells.  Just after I noted above that yesterday's risk window had apparently tagged a low, the DJIA took that low out.  So yesterday now appears to have been a dud risk window.  The summation system has been off badly the last few weeks.  Not sure why, maybe I've fine tuned it too much for bull markets which we have been in for most of the last 13 years.  I guess it's time to air the tires and tweak the carburettor to get this baby to run smoothly again. If you can't fake it, fudge it.  

 

Regards,

Douglas



#5 slupert

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Posted 20 May 2022 - 12:48 PM

linron1, I had never heard of David Hunter before.  I watched his youtube video from a month or so ago at Macroeconomist David Hunter on Private Market Valuations, VC Markdowns & Unicorns! - YouTube where he was called for 6000 S&P later this year.  He apparently thinks Powell will panic and increase pumping if the economy starts to stall.   I guess the next Powell test comes in the June FED meeting on I think the 14th and 15th.  They will have the June 10th inflation data in hand to make their interest rate decision.  If they chicken out and don't raise by 0.5%, then maybe this Hunter fellow is on to something.  Given Powell appears to be about half Rhode Island Red, that wouldn't really surprise me too much.  Time, as always, will tell the tale.  

 

Regards,

Douglas

chicken out??? I don't think you have to worry about that.He better open up the Volcker play book. 100 basis points.



#6 Douglas

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Posted 20 May 2022 - 01:35 PM

slupert, I'll take the under on that bet.  Jerome is still pumping, right now, today.  The FED is still keeping banks so flush with funds that they have barely increased their deposit rates since this so called tightening started.  The banks don't have to pay the hoi polloi for their money to lend when the FED keeps them flush.  When I was a kid, banks not only paid interest on deposits, they would give you a toaster if you opened an account.  When banks start having to bid for your money to lend, then you'll know the FED is actually tightening.  Until then, it's all smoke and mirrors. 

 

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Douglas



#7 flyers&divers

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Posted 20 May 2022 - 11:46 PM

Tom DeMark almost has a complete 13 count down meaning a rally is expected soon according to the Marketwatch.com article at the following location:   The technician who called the 2020 market bottom says a 'shocking rally' is in store - MarketWatch  .  DeMark is expecting a big 62% bear choking retracement up to 4453 S&P.  

 

My own trading system is standing on the table and screaming buy, and yesterday's risk window appears to have tagged a low, so I can't argue with DeMark's optimism.  

 

Regards,

Douglas

Douglas, thank you for the reminder.

I love to see the work of Rick Bensignor who has a gilded resume and now is the chief analyst at Option Play.

Bensignor uses DeMark's software and shares some of his own analysis with OptionPlay subscribers.

 

Regards,

F&D


"Successful trading is more about Sun Tzu then Elliott." F&D

#8 flyers&divers

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Posted 21 May 2022 - 12:08 AM

correction: OptionsPlay

 

F&D


"Successful trading is more about Sun Tzu then Elliott." F&D

#9 K Wave

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Posted 21 May 2022 - 09:02 AM

Tom DeMark almost has a complete 13 count down meaning a rally is expected soon according to the Marketwatch.com article at the following location:   The technician who called the 2020 market bottom says a 'shocking rally' is in store - MarketWatch  .  DeMark is expecting a big 62% bear choking retracement up to 4453 S&P.  

 

My own trading system is standing on the table and screaming buy, and yesterday's risk window appears to have tagged a low, so I can't argue with DeMark's optimism.  

 

Regards,

Douglas

Certainly not impossible to see a big fast rally back up to rolling over 200 day MA on SP

 

Although with the current configuration of the Mega Caps, and especially after the TSLA breach on Friday, still not ruling out a decline that shocks people before we make IT bottom.

 

Still using Rusty 1780 and 1800 pivot points, as if a rally comes, it should be led at the turn by Rusty, and the early signs are there..

And probably, if 1780 is reclaimed on Rusty, then the huge pivot at 1800 would likely be taken by the bulls as well, and THAT is what could trigger a big short covering rally.

 

So if we do not head straight back down on Sunday night, which is still a real possibility, than I may finally start to look long for a bit.

 

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

 

 


#10 Douglas

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Posted 21 May 2022 - 11:00 AM

K Wave, I'm chomping at the bit to buy too, probably the QQQ, but I still have the deep scars from trying to catch a big falling knife in the 2000 - 2002 bear market, so I am going to need a very solid signal with trend change confirmation to take this leap.  Last week I got the solid buy signal, so now I'm just waiting for trend change confirmation.  Since these buy signals are notoriously early in bear markets, I'm not holding my breath waiting on this trend change.  By the way, I'm just dating the Q's, I have no intension of marrying them, so I'll be grabbing any goodie I can get and then getting the heck out of this romance quickly. 

 

Regards,

Douglas