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September LOWS beckon, Winter of Misery & Cold BUT the Sun will shine again


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#131 K Wave

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Posted 08 September 2022 - 11:07 AM

BIG 5 fang index..low of day....


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

 

 


#132 K Wave

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Posted 08 September 2022 - 11:08 AM

apple going after 154 again...holy cow, has that one been actin' weak....


Edited by K Wave, 08 September 2022 - 11:08 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

 

 


#133 redfoliage2

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Posted 08 September 2022 - 11:53 AM

The bounce losing steam after Federal Reserve chair Jerome Powell said the central bank is "strongly committed" to controlling inflation.  It's hard to fight a stubbornly hawkish Fed ..........................


Edited by redfoliage2, 08 September 2022 - 11:55 AM.


#134 K Wave

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Posted 08 September 2022 - 12:14 PM

Bulls fight their way back above 3980.....as long as they hold it above, they still have not given up the ball just yet...


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

 

 


#135 K Wave

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Posted 08 September 2022 - 12:56 PM

Apple upswings lower and lower....


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

 

 


#136 dTraderB

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Posted 08 September 2022 - 08:06 PM

Great week so far, Monday down, 3 Profitable days, Friday could be a reversal 

This ST BOUNCE has almost reached the target in terms of time -- Friday to Monday next week

 

RISK-ON MODE

Rolled to DEC contracts

Closing 1 NQ HEDGE LONG   +467 points

 

Holding 1 NQ HEDGE LONG

 

30 SPY PUTS

43 QQQ PUTS

11 IWM PUTS

3 USD/YEN SHORT

57 TLT CALLS

 

Will add an ES HEDGE LONG....  but below 3950 



#137 beta

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Posted 08 September 2022 - 09:11 PM

Gutsy trade.  I'm holding OCT 21 puts hedged with NET, LMND.  Picked up some BOIL today.


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#138 dTraderB

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Posted 08 September 2022 - 09:18 PM

Quite interesting:

 

A Rainbow Convergence and a Head and Shoulders
 

spx_rainbow_sep2022.gif

This week’s chart is the one I have been watching very closely the past few days, and sharing in my Daily Edition.  It has multiple things all going on at the same time, and presents a great lesson on a couple of important chart analysis principles.

The first and more elementary point is that the SP500 just recently formed a classic head and shoulders (H&S) top structure.  A H&S is important not because it is a top (or if inverted, a bottom), but because it provides us with a measuring objective for a price move once the neckline breaks. 

The way this principle works is that you measure the height of the head above the neckline, and apply that distance in the opposite direction from the point where the neckline gets broken, and that measurement gives the objective for the move.  Here is a diagram:

sp500_head_and_shoulders_sep2022.gif

If the neckline is tilted a little bit, as it is in this example, then the measurement gets just a little bit more complicated, but it is not too hard to do.  In this case the downside objective was to around 3900 on the SP500 Index.  Reaching a H&S objective does not mean that the move has to stop; it is a target, not a floor.  Its purpose is to know where to take profits on a move, if prices get there, which is also not guaranteed.  There are failures to reach the objective.

more here:

https://www.mcoscill..._and_shoulders/



#139 dTraderB

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Posted 08 September 2022 - 09:21 PM

Looks more and more as reversal will be below the zero line...  unless, OF COURSE, iit zooms above zero... LOL

 

McClellanOsc_1380.gif

 

https://www.mcoscill...t_breadth_data/



#140 dTraderB

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Posted 08 September 2022 - 09:27 PM

Old news, I posted ST rally early this week, and the McOsc past 2 days:  

 

 

 
 
 
 
 
Njx49flI_normal.jpg
 
 
A #MysteryBroker overnight update points out McClellan Oscillator flashing rare extreme oversold reading Tuesday (seen after big drops in 2010, '11, '18 and '20) that usually triggers short-term 3-5% S&P 500 rallies and further upside follow-through often, though not always.
 
 
11:21 AM · Sep 8, 2022
 
The #MysteryBroker's "best guess" is the S&P 500 continues to rise into next week, as he expects the inflation reports to come in "favorable." He continues to see inflation falling hard on its own, and worries the Fed will ignore it and overtighten by 75bp the following week.
 
 
The #MysteryBroker sees investors caught flat-footed by the recent run of better-than-expected economic news and ebbing inflation, combined with a Fed not willing to go slower. Given this, be offers no longer-term high-conviction broad-market call.
 
The #MysteryBroker also dismisses the doomsday calls about Europeans freezing this winter and power-company margin calls. Still finds too many investors remaining bullish on oil in recent months. Says the main short-term upside risk to oil/gas might only come from hurricanes.'
 
 
 
 
 
 
Njx49flI_normal.jpg
 
 
A #MysteryBroker overnight update points out McClellan Oscillator flashing rare extreme oversold reading Tuesday (seen after big drops in 2010, '11, '18 and '20) that usually triggers short-term 3-5% S&P 500 rallies and further upside follow-through often, though not always.