BIG 5 fang index..low of day....
September LOWS beckon, Winter of Misery & Cold BUT the Sun will shine again
#131
Posted 08 September 2022 - 11:07 AM
The strength of Government lies in the people's ignorance, and the Government knows this, and will therefore always oppose true enlightenment. - Leo Tolstoy
#132
Posted 08 September 2022 - 11:08 AM
apple going after 154 again...holy cow, has that one been actin' weak....
Edited by K Wave, 08 September 2022 - 11:08 AM.
The strength of Government lies in the people's ignorance, and the Government knows this, and will therefore always oppose true enlightenment. - Leo Tolstoy
#133
Posted 08 September 2022 - 11:53 AM
The bounce losing steam after Federal Reserve chair Jerome Powell said the central bank is "strongly committed" to controlling inflation. It's hard to fight a stubbornly hawkish Fed ..........................
Edited by redfoliage2, 08 September 2022 - 11:55 AM.
#134
Posted 08 September 2022 - 12:14 PM
Bulls fight their way back above 3980.....as long as they hold it above, they still have not given up the ball just yet...
The strength of Government lies in the people's ignorance, and the Government knows this, and will therefore always oppose true enlightenment. - Leo Tolstoy
#135
Posted 08 September 2022 - 12:56 PM
Apple upswings lower and lower....
The strength of Government lies in the people's ignorance, and the Government knows this, and will therefore always oppose true enlightenment. - Leo Tolstoy
#136
Posted 08 September 2022 - 08:06 PM
Great week so far, Monday down, 3 Profitable days, Friday could be a reversal
This ST BOUNCE has almost reached the target in terms of time -- Friday to Monday next week
RISK-ON MODE
Rolled to DEC contracts
Closing 1 NQ HEDGE LONG +467 points
Holding 1 NQ HEDGE LONG
30 SPY PUTS
43 QQQ PUTS
11 IWM PUTS
3 USD/YEN SHORT
57 TLT CALLS
Will add an ES HEDGE LONG.... but below 3950
#137
Posted 08 September 2022 - 09:11 PM
Gutsy trade. I'm holding OCT 21 puts hedged with NET, LMND. Picked up some BOIL today.
#138
Posted 08 September 2022 - 09:18 PM
Quite interesting:
A Rainbow Convergence and a Head and Shoulders
This week’s chart is the one I have been watching very closely the past few days, and sharing in my Daily Edition. It has multiple things all going on at the same time, and presents a great lesson on a couple of important chart analysis principles.
The first and more elementary point is that the SP500 just recently formed a classic head and shoulders (H&S) top structure. A H&S is important not because it is a top (or if inverted, a bottom), but because it provides us with a measuring objective for a price move once the neckline breaks.
The way this principle works is that you measure the height of the head above the neckline, and apply that distance in the opposite direction from the point where the neckline gets broken, and that measurement gives the objective for the move. Here is a diagram:
If the neckline is tilted a little bit, as it is in this example, then the measurement gets just a little bit more complicated, but it is not too hard to do. In this case the downside objective was to around 3900 on the SP500 Index. Reaching a H&S objective does not mean that the move has to stop; it is a target, not a floor. Its purpose is to know where to take profits on a move, if prices get there, which is also not guaranteed. There are failures to reach the objective.
more here:
https://www.mcoscill..._and_shoulders/
#139
Posted 08 September 2022 - 09:21 PM
Looks more and more as reversal will be below the zero line... unless, OF COURSE, iit zooms above zero... LOL
https://www.mcoscill...t_breadth_data/
#140
Posted 08 September 2022 - 09:27 PM
Old news, I posted ST rally early this week, and the McOsc past 2 days: