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Unfulfilled Promise 9/8/20

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Europe is marking time this morning, waiting for its next cue from New York, a cue that was missed yesterday. 

Meanwhile the 5 day cycle projection points to a high of 3450 on the US. Trend support on the hourly chart is at 3420, about where the fucutures are at 10 AM in central Europe, 4 AM in New York. If that breaks, you can see for yourself several levels on this chart where a renewed pullback is likely to come to rest and reverse. 

tvc_9eb92e38bde10e67d495753351b017e6.png

 

3385 and 3350 are the key support levels on the daily chart. 

tvc_b8fe3ab0d60f194277b13ad7063fb072.png

 

 

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We will find out which option Bull will choose this week. Watch But wipes it could be only safe trade

On 9/6/2020 at 1:03 PM, jp6 said:

Liquidity or No liquidity. Wheels are going to fall off before the Election. traders will decide which way market will go.

60/40 portfolio was under attack on Friday. Only safe trade was Dollar.

After huge rally with only one minor pullback, second pullback is bought almost immediately, was seen on Friday -the SP recovered from an intra-day 3% loss. As of Friday's , trend remains positive as long as the SP remains above 3300. Will go with Scenario 2. Gap down then Scenario 1

 

September top 2020.png

 

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No doubt about it. This is my cleverest headline ever. 

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Bulls need to use the cash if any they have this week or it won't be good.

End is near for everything apart from Strong Dollar and Cash.

I would look for M type Bottom for the Next leg up then see what chart is saying.

Liquidity can evaporate with the selloff. 

Will the cash be King before the Election?

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3 minutes ago, DrStool said:

That guy is gonna get hurt. 

This market is suddenly extremely thin. 

Newbie think they know everything under the sun, Believe Fed will never allow the market to go down.

 Fed put is going to fail big time.

 

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7 minutes ago, DrStool said:

That guy is gonna get hurt. 

This market is suddenly extremely thin. 

That's the barstool sports guy. I was thinking it was parody, but now I wonder. Supposedly he is worth $100 million but who knows. 

https://www.bloomberg.com/news/articles/2020-06-12/barstool-sports-dave-portnoy-is-leading-an-army-of-day-traders

 

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