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The Elusive BOTTOM - bulls floundering as QT begins


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#251 redfoliage2

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Posted 10 June 2022 - 11:13 AM

Yep.  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...........................

I see a back test to SPX 4000 early next week before the Fed meeting ............................


Edited by redfoliage2, 10 June 2022 - 11:20 AM.


#252 K Wave

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Posted 10 June 2022 - 11:22 AM

 

Yep.  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...........................

I see a back test to SPX 4000 early next week before the Fed meeting ............................

 

IF we go out below 3900 on the week, do not rule out gap down, and almost straight to 3500...


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

 

 


#253 12SPX

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Posted 10 June 2022 - 11:24 AM

 

 

Has nothing to do with the big 5 at all lol!!  Speaking of tech though I've only been trading the S&P so starting a long on the ndx at 11,890.... see how that goes next week too in this "grind grind grind" "trading market" lol....Believe me you'll hear from me when I think the market is going to really crash and speaking of Y2k, back then I never said there would be a crash either but 15 years of sideways for the Nasdaq....

 

 

Yeah just an 85% Flesh Wound...Yeah, That's The Ticket.

 

Big 5 about 50% of NDX currently, so ignore them as as you see fit...

 

ndx.png

 

There you go,,,,note it wasn't a one day -85% it was a grind grind grind and then rangebound.  Believe me I was short there at first similar to me being one of the only guys on this board short in December.  If we do see a pop next week I'll likely start shorting again too lol!! 



#254 K Wave

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Posted 10 June 2022 - 11:25 AM

TSLA has been a very good tell along the way at possible turning points..

 

Today, so far, just drip drip drippin' lower below short term support..

 

Now see if long red ones start to print into end of week, or it climbs back over 700....


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

 

 


#255 redfoliage2

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Posted 10 June 2022 - 11:25 AM

 

 

Yep.  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...........................

I see a back test to SPX 4000 early next week before the Fed meeting ............................

 

IF we go out below 3900 on the week, do not rule out gap down, and almost straight to 3500...

 

Anyone has the balls to do it before the Fed meeting?


Edited by redfoliage2, 10 June 2022 - 11:26 AM.


#256 K Wave

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Posted 10 June 2022 - 11:33 AM

Sticking with the Y2K analog, the oval is what I am seeing as a possibility...

 

A failure at the old floor in the Mega Caps, followed by a final plunge to the target....

 

So while perhaps not a crash (since the 20%+ was over about 8 days), could certainly be painful next week...with TSLA perhaps subject to the most pain...

 

ndx.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

 

 


#257 12SPX

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Posted 10 June 2022 - 11:50 AM

Do love your charts and I used to trade the 100 back then so nice to see!!  As I base a large part of my trading on the expiration cycles,,, back then the June cycle was up and were still up a little for this one so next week will be very interesting for sure!!! 



#258 K Wave

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Posted 10 June 2022 - 11:52 AM

Here is SPX...target will be hit..

 

just a question of 1 more wave or perhaps 2...

 

spx.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

 

 


#259 12SPX

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Posted 10 June 2022 - 12:12 PM

Added to my 3800 put, average short $23 now! 



#260 redfoliage2

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Posted 10 June 2022 - 02:03 PM

 

Yep.  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...........................

I see a back test to SPX 4000 early next week before the Fed meeting ............................

 

Let's get today's gap filled Monday, or just jump over it..............................


Edited by redfoliage2, 10 June 2022 - 02:06 PM.