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looking for 1962 area to short with a confluence of resistance from there to 1966.
back to the 1929 support would make sense , at which point it’s decision time
you tell em K !
most logical would be a big gap down & go day to cut through supports, but little logic in the last few weeks .
still , we have the presidential cycle low to come in the next 4 months
maybe ndx needs a new high or a dt before the bulls release their grip…wanted to see 1902 print today to close a few , but wishful thinking it seems
very well K . had quite forgotten how long a topping process takes-lol
must be something to do with all those boyz having rather a lot to distribute…
i agree K , worse case should be a reversal day today with more selling tomorrow . Looking for the 1886-88 area , where it’ll be decision time .
here’s hoping this is your lower high K . Worth a shot today , even if hols mean it may take a few days to play out…
I agree Paps , yesterday’s fall to 1854 was either the end of the correction ( after all it was 30+ pts) or just a fake-out to put us back in the grinding uptrend .
the euro is stuck at a level where it’s next stop into the low 1.40’s , so either everything turns or the grind carries on. nice for the day traders
more consolidation today and closed some shorts .
by my reckoning this market breaks one way or another tomorrow/ Thursday & with s4H tomorrow , that must be favourite.
looking to add back the shorts later or early doors tomorrow
short again from yesterday . Breadth getting narrower every week and we’re back in the days ala 1972 , where the “nifty fifty” carried the indices higher whilst the majority of constituents broke down . That’s why the Dow is lagging and c**p like Tesla ,Netflix, etc is still leading .
Number of stocks trading above their long term averages is in decline – down 15% or more over the last 6 months alone. doesn’t mean it’ll fall off a cliff , but indicative of a top being formed .
just might take a bit longer yet to give us the 15-20% decline we’re due.
Opens usual time Paps? 11 on sunday? baaa – did you go short? as it hit the level you mentioned.
added at 1839 and some ftse at the 786 this morning.
cycle low maybe this Friday & be interesting to see how much volume there is today after last week was affected by hols and weather
the retrace stopped short of the 1808 fib , the rally has stopped short of the 1826/7 fib. indecision wins the day. nice traders day , but tomorrow should hopefully set up one or the other – with all eyes above at 1836-8 and all eyes below at 1800/02. still ss , having cut some and added some back several times .
1836-38 cash should be a decent entry, waiting to see if it comes before eod
the retrace stopped short of the 1808 fib , the rally has stopped short of the 1826/7 fib. indecision wins the day.
nice traders day , but tomorrow should hopefully set up one or the other – with all eyes above at 1836-8 and all eyes below at 1800/02.
still ss , having cut some and added some back several times .
