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Looking for 12%+ drop into January 24 (I Found What I Was Missing)

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#21 steadyquest

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Posted 14 January 2023 - 08:16 PM

Assuming the soxx rally plays out as expected, and since 1.75 was backfilled last week and all the levels have now been hit, I'm thinking this ratio could plow right through the avearges and take out the January high.

 

nya-gold.png

 

Looks to have just bounced off uptrend support, which is a plus.  If I weren't a notoriously reliable fade I might consider a trade with the next pullback.

 

nya-gold2.png



#22 steadyquest

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Posted 14 January 2023 - 08:36 PM

Marked the wrong candle for 8.60 (just in case anyone is checking).

 

nya-gold.png



#23 steadyquest

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Posted 15 January 2023 - 09:25 PM

The election rally times the dollar.  The pullback in June tagged the mid level to an accuracy of about 1 part in 16,100 - probably just a coincidence.  Where does it go next?  Is that a diamond - an inverse h&s - a pennant?

 

NYA-DLR.png



#24 blustar

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Posted 16 January 2023 - 10:19 AM

The election rally times the dollar.  The pullback in June tagged the mid level to an accuracy of about 1 part in 16,100 - probably just a coincidence.  Where does it go next?  Is that a diamond - an inverse h&s - a pennant?

 

NYA-DLR.png

Looks like a Diamond Top



#25 blustar

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Posted 16 January 2023 - 10:21 AM

Thank for putting it out there.

I keep an open mind about the beasts, but it should be obvious that all human government fails to do what is really needed for it's people.

A billion dollars for a bomber and a billion more for bombs and a billion more for Political Payola will win out over food and shelter every time.

And it sure seems like the 4 angels holding back the 4 winds have let them go.

Maybe the "Buildaburger" group, and their ilk, should concentrate on building burgers.

 

"It does not belong to man to direct his own step", much-less the world!

 

UVIX saw a lot of selling recently. 7 Sentenals had it in his Tracking account with a stop of 5.48. That's gone.

UVIX.jpg

 

Yes he was stopped out a second time here. I'm still in at $5.17 (ouch) but believe we go over $10 by the 25th



#26 blustar

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Posted 16 January 2023 - 10:31 AM

My analysis of a 12.4% decline into Jan 25 still stands. I believe we could see the SPX down as much as 40% by the end of March. Yes I do have subs. Nobody's perfect. There are many here calling for more bull. I don't attack them for being wrong, but I believe they will be. I called the COVID crash many months in advance and have proof.



#27 steadyquest

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Posted 16 January 2023 - 06:18 PM

Have taken a liberty with my Qs trendline, i.e., it's already broken out.  Though we may rally short term, I suspect it could be followed by hard down.

 

qqq.png



#28 blustar

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Posted 17 January 2023 - 10:10 AM

Have taken a liberty with my Qs trendline, i.e., it's already broken out.  Though we may rally short term, I suspect it could be followed by hard down.

 

qqq.png

we agree



#29 blustar

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Posted 17 January 2023 - 10:19 AM

BTW, today is a Major Bradley GEO turn



#30 blustar

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Posted 17 January 2023 - 10:56 AM

This is only to be used as a Terciary Indicator!

 

SPX: 1/19/23, 1/20/23, 1/31/23, 2/6/23, 2/13/23

 

DJI & NYSE: 2/14/23!

 

These don't always hit the exact low, but some kind of buy low that could be intraday, so proceed with caution!

 

So far the two TLC's for 1/19-1/20 fit the scenario I was calling for and a 1/25/23 low. 2/14/23 fits nicely. 1/31/23 may be a day off too, or an intraday buy.

 

So far, the Banking Index and especially the DJI have not confirmed the new highs today.

 

Landry's T-Cycle is looking for a low around 1/24/23.

 

The VIX wants to run! Will the Dow Industrials be the rally killer? Last year, it was the SPX and NDX.
 

 

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Brad Gudgeon
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BluStar Market Insights






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