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Back In Business 9/11/20

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Looks like the end result may be worth the snafu yesterday. When the upgrade stalled, tech support first showed up, and then they abandoned us for the rest of the day. Sorry about that!

For now, here's how it looks at 4 AM US ET. 

We have trendlines. Boy do we have trendlines. There's a trend for every taste on this chart. So take your pick. 

The cycle and momentum oscillators aren't much help. This market is as confused as we are. 

tvc_80cc494616033e20714eec1b36cf7eaf.png

 

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This is Doc's site and I'm not here to defend or promote Marty Armstrong--Doc is the man and I love this place--but unless I'm missing something, it seems to me that Marty's macro turn date of Sept 3

What do you mean I don't believe them? I've done cycle work for 50 years. And I never said I don't believe Ewave. I don't practice it, but I've seen people who were very good with it.  You're suc

I don't do ewaves or cycles or pretty much anything useful, but can I be an asshole, too?

34 minutes ago, jp6 said:

D day for Bulls. Need to close positive today which would give w type close. High is only thing is how big the bounce is. Close Under 27200 on Dow is goodbye.

Possible W type bottom.png

 

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The thing I'm most proud of is that no matter what the board looked like, the logo that I designed 20 years ago always looks great to me.  My best work has stood the test of time.  

 

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This trading reminds me of the good old days back in the early seventies when we had great brokers like Dewey, Chernem, Burnham, & Howe

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You'd never know it but the downtrend that started at 6 AM is still in force.  They need to clear 3363 and then 3367 to break a bigger channel.  

30 minute bars. 

tvc_9ffd70141d7364cba685235532500119.png

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Downtrend go bye bye. 

Does that mean we're in a new uptrend?

Not necessarily. Remember the third option. The rare but dreaded flat trend. The question then becomes, are we in a sideways up phase or a sideways down phase. This one looks like a 5 day cycle sideways up phase, and will remain so unless it clears 3375.

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The problem with that is that this might also be a sideways down phase of a different duration cycle. 

Oh well, I guess we'll just have to let the market decide. In the meantime, this fucker is particularly deadly because you can't even play the edges very well because they keep shifting. 

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So much for that analysis. The downtrend breakout just failed. 

This market is a mess.  

But to quote Blutarsky. It ain't over till we say it's over.  

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1 minute ago, DrStool said:

The problem with that is that this might also be a sideways down phase of a different duration cycle. 

Oh well, I guess we'll just have to let the market decide. In the meantime, this fucker is particularly deadly because you can't even play the edges very well because they keep shifting. 

I thought it was just me. Challenging week. Although Portnoy seems to disagree with me. Why it's as easy as . . . 

https://www.barstoolsports.com/blog/2849087/can-you-pick-letters-out-of-a-bag-and-read-them-then-you-can-play-the-stock-market.

I still say he's doing a bit, but this guy is a genius! I took his advice, but this is all I could come up with on my first letter pull. Which companies could he identify from these letters? 

406004384_ScreenShot2020-09-11at7_51_18AM.thumb.png.449d3a5d812ea8e772891460a47cd04c.png

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