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PCE Report Melt Up?

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#11 12SPX

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Posted 24 February 2023 - 10:12 AM

The SPX has made a highly irregular low on a 16+8 cycle low today. "y" of [y] of Y of {B} coming to the upside into the next Gann top 8/16 Monday. Target upper 4280's. I said BIG swings coming!  Z of {B} low March 6 3924/25 then up into March 13 top above 4325. PCE report is more important to FED than the CPI or PPI. All that negative talk yesterday got people all beared up so that can run the shorts tomorrow. My take fwiw...yes.gif

 

I'm long SPY 2/24 412.0 calls & SPY 2/27 410.0 callsyes.gif

Soo curious, complete opposite now what??



#12 pdx5

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Posted 24 February 2023 - 10:21 AM

Stock market guru's and prognosticators and TA experts, are all making a good living. Can't blame anyone trying to make a good living.
"Money cannot consistently be made trading every day or every week during the year." ~ Jesse Livermore Trading Rule

#13 12SPX

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Posted 24 February 2023 - 10:51 AM

No one ever knows exactly where the market is going to go at any given time, it's always a calculated guess, why I prefer following what the tape is telling me and options.  Always gotta look at the overall picture to get a real feel for it.



#14 pdx5

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Posted 24 February 2023 - 11:15 AM

Completely correct 12SPX. No one knows where market will be next week, next month or next year. However the very long term trend will be up because government will keep printing money and inflate money supply over and above gains in productivity. Like all rivers end up in the ocean, the excess money ends up in stock market after moving through many hands.
"Money cannot consistently be made trading every day or every week during the year." ~ Jesse Livermore Trading Rule

#15 12SPX

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Posted 24 February 2023 - 11:54 AM

I agree pdx however this time around I think they have something else in mind so it won't be coming into the market and we're gonna be sideways for a few more years to come.  They over did  it with low rates on purpose I think.  If we were in Greenspan days the Fed would have started lifting rates right after the 2009 crisis was done around 2012 to bring them back to normal, not wait an extra 100 years.  Bellard or whatever his name was made a great point the other day.  The fast increase of rates was just to bring back rates to normal and nowwwww they are getting into tightening mode.  The problem is too many people in my view got used to extra low rates and as they have to adjust to higher rates for housing and loans because they are so extended its gonna cause problems, thus much slower economy etc.  For some reason I think the government now wants a major slowdown for some reason,,,,dependancy on  government maybe, not sure....  Anyhow all this combined makes me think the market is going to be flat for some time to come with big swings inbetween....



#16 pdx5

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Posted 24 February 2023 - 12:12 PM

No kidding. My first mortgage in 1970 was 7.95%.
Young people do not bother learning history.

And yes absolutely FED kept rates way too low because it made everybody happy. It is like declaring free round of drinks in a crowded sports bar. Everybody cheers! But then the bill arrives.
"Money cannot consistently be made trading every day or every week during the year." ~ Jesse Livermore Trading Rule

#17 skott

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Posted 25 February 2023 - 02:18 AM

 

The SPX has made a highly irregular low on a 16+8 cycle low today. "y" of [y] of Y of {B} coming to the upside into the next Gann top 8/16 Monday. Target upper 4280's. I said BIG swings coming!  Z of {B} low March 6 3924/25 then up into March 13 top above 4325. PCE report is more important to FED than the CPI or PPI. All that negative talk yesterday got people all beared up so that can run the shorts tomorrow. My take fwiw...yes.gif

 

I'm long SPY 2/24 412.0 calls & SPY 2/27 410.0 callsyes.gif

Soo curious, complete opposite now what??

 

 

 

I've adopted the George Costanza model of trading







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