blu, that was a marvelous call !
We are looking to buy the dip this morning
20 replies to this topic
#11
blustar
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blustar
Posted 18 September 2023 - 08:50 AM
#12
blustar
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Posted 18 September 2023 - 01:03 PM
We are at "b" of Z or C and now likely comes the third of the third "c" of Z or C into later Tuesday.
The Sun in cautious Virgo opposes Neptune Rx in Pisces early Tuesday = micro PANIC Tuesday:
Target 4385/4405 SPX with the 4385 SPX area the most likely to be closer with what should happen, IMHO.
Still looking for a large rally Wednesday/Thursday this week, then down hard likely.
#13
blustar
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Posted 18 September 2023 - 02:16 PM
We may gap up first tomorrow and then fall into early Wed...
#14
q4wer
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Posted 18 September 2023 - 08:59 PM
Thanks for the update !!!
#15
blustar
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Posted 19 September 2023 - 08:31 AM
The SPX is -10, VIX Up 2%, OIL Up 2%, Copper Down 0.5%, Bonds Down....
Yesterday, I said there was a possibility we could gap up. Now we have to deal with what Mr. Market is throwing at us now. It looks to me that the market is going down today and possibly into tomorrow. A large rally from Wednesday to Thursday looks likely now. The biggest opportunity is still on the buy side, but not yet.
#16
blustar
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Posted 20 September 2023 - 09:47 AM
The downside does not look complete to me. Neither the NYA nor the DJI have made lower lows than Sept 7, but the QQQ and SPX have.
The upside break to SPX 4460 looks both irregular and corrective (meaning like the end of a [b] wave but with an irregular look to it). Bottom line: I believe we see the 4395/97 SPX level tested later today especially after the FED announcement. There is a parallel to the June meeting here (1 quarter ago) and the fact that they likely will not raise rates right here, but instead imply more are coming because of the heating up of inflation, OIL prices being one of the causes.
#17
cycletimer
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Posted 20 September 2023 - 04:50 PM
I’ve been out of risk assets, busy buying and locking in high rates in CD’s. I’m still holding my $ZROZ. Stephanie Pomboy, that blonde looker over at Market Mavens Research had an interview the other day and said exactly that. She said to stay out of equities and buy 6-month T-notes and CD’s. She said we won’t miss anything over next 6 months, but we’ll avoid losses. That’s sound advice for the non-active trader in me.
#18
q4wer
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Posted 20 September 2023 - 05:41 PM
blu , you made a awesome call again. after hour ES dropped further to spx 4395 area. What is your view for tomorrow?
#19
blustar
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Posted Yesterday, 08:23 AM
blu , you made a awesome call again. after hour ES dropped further to spx 4395 area. What is your view for tomorrow?
Buy the dip early! Hold into at least early Friday for a swing trade buy even into late Sept to early Oct, Big bounce coming!
#20
linrom1
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Posted Yesterday, 10:25 AM
blu , you made a awesome call again. after hour ES dropped further to spx 4395 area. What is your view for tomorrow?
Buy the dip early! Hold into at least early Friday for a swing trade buy even into late Sept to early Oct, Big bounce coming!
Hard to imagine that the market will let them go to 4250 so easy? It's the same thing with gold, DXY and bonds. Everything is Mr. Obvious.
