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The BOUNCE, then the PLUNGE, again


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#31 steadyquest

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Posted 19 September 2022 - 10:11 AM

A daily count that could wrap up this week

 

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#32 12SPX

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Posted 19 September 2022 - 10:32 AM

 

I am not seeing the ingedients for a crash. May be I need a visit to the eye doctor. A crash requires surprise event. 

What could be the surprise here? FED is already talking with bravado. Unemployment is non-existent. Help wanted signs every where.

Burger flippers at McDonald's in my town can't find workers at $12 to start, Amazon minimum wage is now $25/hour?

Corprate earnings of SP500 are not crashing. Inflation is steady at around 8.5%.

 

So yes, grind down towards 3500 SPX in a month or two is possible. I will certainly nibble at 3800, bite at 3600 and gorge below 3400. I never sell anything in less than 12 months after purchase.

 

Looks like the crash hopers are going to be disappointed this morning as the market is down once again 

 

Exactly my point, way to many people looking for a crash and they'll flip like a switch to bullish if we see the market move higher as were seeing now.  It's all about grind grind grind!  Rereading my post I missed out adding ""just" down once again"



#33 redfoliage2

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Posted 19 September 2022 - 10:33 AM

 

 

Rut bulls have stated their case at 1780 on the open today. If and when that breaks, Look Out Below...

And now looks like next push on Tesla under $300 is likely the sell signal.

In the meantime we see if they can hold things together until Fed...

If the Fed talking hawkish again I'd expect SPX to go 3700 in a hurry.  A retest of June's low looks unavoidable looking on the SPX weekly chart  .................

 

3700 is in play as long as rate keep moving higher, ten year yield is above 350 now

 

I see the Fed will be staying hawkish at the meeting.   At this point the Fed does not like to see a rising stock market as it makes controlling the inflation more difficult.  So be prepared for SPX 3700 soon  ...................


Edited by redfoliage2, 19 September 2022 - 10:37 AM.


#34 12SPX

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Posted 19 September 2022 - 11:41 AM

Glad to see your sticking by your prediction....



#35 redfoliage2

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Posted 19 September 2022 - 12:11 PM

Okay, it looks some players on the street are trying hard to bounce it up today...................


Edited by redfoliage2, 19 September 2022 - 12:14 PM.


#36 12SPX

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Posted 19 September 2022 - 01:01 PM

But your not gonna flip right, its crash for the week??



#37 jacek

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Posted 19 September 2022 - 01:15 PM

So far all 2022 FOMC meetings lead to rallies


Edited by jacek, 19 September 2022 - 01:16 PM.


#38 andr99

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Posted 19 September 2022 - 01:24 PM

So far all 2022 FOMC meetings lead to rallies

 

the same I thoght...


forever and only a V-E-N-E-T-K-E-N - langbard


#39 chem

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Posted 19 September 2022 - 01:25 PM

The 4.4 billion shares traded for spx on Friday was second highest of the year behind June bottom volume. Traders are awaiting the next shoe to drop, perhaps they should be asking what would it take to get the bullish greed back in the market. My guess is an upside break of the 200day SMA and better yet its flattening/upturn. Politically right about now is the time for this turn to peak into midterms at a minimum target of 4525 or A = C out of the June lows.



#40 steadyquest

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Posted 19 September 2022 - 01:55 PM

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