Looks like early September is the make or break point to see if McClellan's chart holds true.
Make Volatility Great Again! Near a LOW
#11
Posted 05 August 2019 - 04:44 PM
#12
Posted 05 August 2019 - 04:51 PM
Let's see what happens... Looking for Tea Leaves to see if this sell-off will continue.... If I read it forward, it looks like "buy on Wednesday" on weakness is the best option here... I don't see a total breakdown in the economy, I just a sell-off by not enough bears, and exchange rate uncertainty.
Barry
#13
Posted 05 August 2019 - 05:14 PM
Market spiked down down to ES 2780
I am looking for a ST low around these levels
If not, then we could quickly see a SPX 2600 handle
WOW, last week was SPX 3000 plus !!
#14
Posted 05 August 2019 - 05:15 PM
And there we go. Futures sliding again after the treasury designates China a currency manipulator https://www.bloomberg.com/news/articles/2019-08-05/treasury-department-designates-china-as-currency-manipulator-jyyxrb65 …
#15
Posted 05 August 2019 - 06:45 PM
arms index was .97
we are not even over sold yet
#16
Posted 05 August 2019 - 08:02 PM
I see another 60 points down for SPX tomorrow ...................
#17
Posted 05 August 2019 - 08:25 PM
I see another 60 points down for SPX tomorrow ...................
CHINA set the YUAN fix a bit stronger than yesterday, at 6.96
This caused ES FUTURES to spike about 25 SPX points
#18
Posted 05 August 2019 - 08:26 PM
China fixes the yuan stronger than 7 per U.S. dollar, opposing currency slump
#19
Posted 06 August 2019 - 05:25 AM
What a bounce from 2780/90 support!
Now, it'd time to short again
#20
Posted 06 August 2019 - 06:42 AM
Trade war is on... expect crackdown on HK protesters and more games with YUAN
Looking to buy OCT QQQ puts near QQQ 190
Since the US has imposed tariffs on Chinese goods, the label of currency manipulator is seriously devalued in its impact.The trade war has been protracted to now, the US has put the biggest card on table, China is relieved. Now fight, China no longer expects goodwill from the US.