Yeah, right!
https://www.zerohedg...ounding-traders
Posted 13 January 2019 - 02:44 PM
Bold call by CARL!
With Carl & Hami both looking for lower markets, I will load up on PUTS!
DP Weekly Wrap: Expect Breakdown from Rising Wedge
One of my favorite chart patterns is the wedge. Rising or falling, they arrive frequently and usually resolve predictably. On this chart there happen to be two rising wedge formations. The first one led us into the bull market top in September/October of 2018. It resolved downward, as expected, but I have to admit that the massive downside follow through was atypical to say the least. The current rising wedge off the December low should also resolve downward. That is not guaranteed, but, since we're in a bear market, it is more likely. Once it breaks down, the "prediction" is fulfilled, and I am not aware of any rule-of-thumb techniques to project how far down price is likely to go, but, again, the bear market implies that there will be more downside.
The DecisionPoint Weekly Wrap presents an end-of-week assessment of the trend and condition of the stock market (S&P 500), the U.S. Dollar, Gold, Crude Oil, and Bonds.
https://stockcharts....sing-wedge.html
Posted 13 January 2019 - 07:37 PM
Bold call by CARL!
With Carl & Hami both looking for lower markets, I will load up on PUTS!
DP Weekly Wrap: Expect Breakdown from Rising WedgeCarl Swenlin | January 11, 2019 at 06:02 PM
One of my favorite chart patterns is the wedge. Rising or falling, they arrive frequently and usually resolve predictably. On this chart there happen to be two rising wedge formations. The first one led us into the bull market top in September/October of 2018. It resolved downward, as expected, but I have to admit that the massive downside follow through was atypical to say the least. The current rising wedge off the December low should also resolve downward. That is not guaranteed, but, since we're in a bear market, it is more likely. Once it breaks down, the "prediction" is fulfilled, and I am not aware of any rule-of-thumb techniques to project how far down price is likely to go, but, again, the bear market implies that there will be more downside.
The DecisionPoint Weekly Wrap presents an end-of-week assessment of the trend and condition of the stock market (S&P 500), the U.S. Dollar, Gold, Crude Oil, and Bonds.
I voted last week for the wave ( b ) down to start this week.
Posted 13 January 2019 - 09:03 PM
dTraderB, many good posts, thanks!!! The one that speaks to me, that I am operating on, is post #9 on page 1. I did a little buying after the late Dec. lows, and sold most of it Friday. It could go a little higher, but the risk of a minor correction grows daily from here, so I took my profit and the market can have the rest. I hope for a successful retest of the late Dec. low, and if we get one that is successful, I would be a buyer at that time.
Blogging at http://RichInvesting.wordpress.com
My swing trades typically last a couple of weeks to a couple of months.
Posted 13 January 2019 - 09:23 PM
First support at SPX 2565 and it may be tested as soon as Monday...............
Edited by redfoliage2, 13 January 2019 - 09:24 PM.
Posted 14 January 2019 - 11:33 AM
Closed QQQ puts
Posted 14 January 2019 - 11:51 AM
just a precautionary move after talk of Sen Graham ® in secret talks with Democrats for a SHUTDOWN deal
Posted 14 January 2019 - 03:30 PM
Quite a resilient market!
Bulls holding on but the inevitable will happen - today or tomorrow - when it goes down real hard!