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This is where I will post medium term thoughts
Plan your trade, trade your plan!
Much against the fear of this being runaway up with the current MAD MODE TREND UP QE market, this is going to go into a phase of double DDDD’s soon. Ie -20 or more from the high and the daily ranges will be -20 or 20+ points.
It should start this week with a good pop and drop day. It can involve a final hoorah, so there maybe a good spike up that closes negative on the day.
FOMC rate decision is on Wednesday 30th and I am going for that as a high +/- a day.
SPX closed at 1762.11 and I am looking for a initial swift 20 point fall and then another 30 point fall. ie 50 points down from here for starters.
The clue will be an uptrending TRIN and a spike in TRIN / VXN / VXN.
Lets see.
Plan your trade, trade your plan!
A multi month drop can begin anytime now that we have had a KTS trigger, BDIP’s and MS recently.
The jigsaw is complete. It will not need news / excuse to turn. It will just turn.
It should drop to around 1860/80 imo.
The only question remains; from where?
I really do not envisage 2000 SPX yet, maybe by year end if we are still in a bull.
So that means really a max of 1960/1980 at this stage as a worst case.
Best case is 1955/60 which we have really hit now.
Hopefully this will be a post to remember and it is why I am posting this also in more medium term / long term Khalsa’s thought’s thread
Plan your trade, trade your plan!
I need to be somewhere else today and will not be back until around 6pm.
In a way it is a good thing, hopefully I will not spook early out of any shorts.
See you all later and good luck
Plan your trade, trade your plan!
Come on Europe. Europe does not believe that the US is really weak (currently -5).
It feels that US can WCB at any time and hence Europe does not want to fall.
If Europe can now join in, then its more hopeful for bears
Plan your trade, trade your plan!
Believe it or not, this is weak and the short term charts are on the verge of turning down.
1943 is support.
1948 is resistance.
It is SU below 1947.50.
Intraday CIT is at 1950.75.
This is where we are up to now.
So 1947.50/1948 is first resistance and then 1950.75. Above that its back to printing a +3/+5 and SU into close.
If it can stay below and break 1943 down, then I do feel the gap at 1938.50 can fill
Plan your trade, trade your plan!
Another lost day by the bears.
What a great shame
Plan your trade, trade your plan!
The good news or the bad news?
The bad news is KTS has negated
The good news is KTS has negated.
Brilliant.
On trigger for the next KTS.
That “should” seal “a top”
Plan your trade, trade your plan!
The last 9 days we have closed within 3 points of the HOD.
Thats some run.
Plan your trade, trade your plan!
1943/5 remains the support into tomorrow to break
Plan your trade, trade your plan!
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