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They're Ba-a-a-a-a-ck! 10/1/20

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However I note some negative divergences. Resistance 3382 and 3390-95. 

Sky's the limit if they clear. 

Support at 3365. Bears need to break that, or bulls stay in control. 

tvc_87a56315cb3ba8faad8dac99d1a64d78.png

 

No 5 day cycle projection yet. 2-3 day cycle projection 3405. 

Looks like a BTFD day. I will be looking to load up my inventory on the first tick up off a pullback where support holds, for example 3365 on the ES. . 

In the event we do get a support break. I'll look to short the reaction. 

Here's the weekly outlook from Monday.  

An up day on Monday would confirm that the short term downtrend is broken. This report gives you the key support and resistance levels, and what to expect if they’re broken. I’ve added 8 chart picks, 5 longs and 3 shorts, to take advantage of a move either way.

Technical Trader subscribers, click here to download the report.

Not a subscriber? Try Lee Adler’s Technical Trader risk free for 90 days!  

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4 hour bars give an interesting view of how formidable resistance is. Multiple layers between here and 3425. If that area is cleared it becomes a base for prices to move much, much higher.  But if thi

 

4 hour bars give an interesting view of how formidable resistance is. Multiple layers between here and 3425. If that area is cleared it becomes a base for prices to move much, much higher.  But if this rally stalls out here, it could be a multigenerational top. 

tvc_26de43bf375ebcaa1a5c2854acf13d1a.png

Either scenario is entirely plausible. As traders we need not worry about it. Take what the market gives. But investors who have their retirement funds in the market need to pay close attention over the next few months. Your fate hangs in the balance.  

Oh, it's so easy to be bullish, but keep in mind that not just the US government, but all governments, not just governments, but also corporations, not just corporations, but especially zombies kept alive by government bailouts, will need to raise cash in the capital markets for years.  

The era of shrinking supply is curtains. Curtains I tell ya. It's not the same game it was pre March 2020.  For a clear view of the market's context, subscribe to Liquidity Trader. Try it risk free for 90 days.

 

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Here at 4:40 AM NY time, bears just landed a punch.  Not a knockout though. Just a support test so far. 

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I set up short entries for the open. All got blown out putting me in a hole. I reshorted immediately. Now ahead on the day. 

But it's early yet.  😄😄😄

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Confusedious say, Do not set automatic order before open. They fornicate you before trade go right way. 

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Saw that someone had mentioned that since 2001, only 2 years had been  positive during the period from Sept 21-30. The other years were sideways or down. 
 

I was too lazy to look it up. He also didn’t say what happens after October 1. 🤔 But if my memory serves, October 10-ish (which falls on a Saturday this year) often seems to show higher volatility and an important high or low. 

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Chart is messy but holding above support. Bullish case gets the benefit of the doubt unless they break 3355.

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