Good old Carl, I have been following his wonderful looking charts since he started providing them for free and is the only guy I ever subscribed to when he went to a pay service. When he joined stockcharts I stepped out however. Totally agree with him as this market is priced for perfection and I can't see how it can keep going for a ninth week in a row. I'm pretty sure next week is going to get very interesting as traders will be able to take their profits to extend their paying of taxes etc and maybe get the spread between futures and cash back to some normal levels and rationality to return with some volatility. Most interesting thing is that bonds have backed up so much now there's a chance they could close down for the 3rd year in a row, which would be a first or right on the money at 3.88%! Yet stocks haven't flinched which is interesting for now....I double downed on my ES short again overnight to get over that 4800 level at 4804, almost my biggest short since 1999, ndx 17055. Gonna be a fun day to end the year hope everyone has a happy new year.
SENTIMENT TOO BULLISH? YES, but can go higher...
#32
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Posted 29 December 2023 - 10:48 AM
Well how about that, profit stop 17050, sell above....
#33
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Posted 29 December 2023 - 11:11 AM
profit stop 17025...
#34
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Posted 29 December 2023 - 11:18 AM
profit stop 17000, sell above
#35
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Posted 29 December 2023 - 11:22 AM
HOLDING 1 EACH ES & NQ
WILL ADD BELOW ES 4800
#36
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Posted 29 December 2023 - 11:27 AM
The most interesting thing is when we were down 70 last time I came within 3 points of covering my ES short lol!! I wonder if it'll get closer today lol!! profit stop ndx 16990
#37
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Posted 29 December 2023 - 11:36 AM
You might have something d, I have an outright buy back on my ES trade for 4800 if hit....
#38
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Posted 29 December 2023 - 11:38 AM
Well, today's spike on the treasury 10Y yield really does not bode well, and I see bounces in stocks likely to be sold .....................
As I warned yesterday the turn-around in the yield is a red flag for stocks. At this juncture bounces in stock market likely to be sold .................
Edited by redfoliage2, 29 December 2023 - 11:47 AM.
#39
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Posted 29 December 2023 - 11:54 AM
pulling my outright buyback at 4800, should follow my rules of profit stops lol!!
#40
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Posted 29 December 2023 - 11:55 AM
Well, today's spike on the treasury 10Y yield really does not bode well, and I see bounces in stocks likely to be sold .....................
As I warned yesterday the turn-around in the yield is a red flag for stocks. At this juncture bounces in stock market likely to be sold .................
It's possible the correction just started today ............
Edited by redfoliage2, 29 December 2023 - 11:56 AM.
