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What Selloff? 10/19/20

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At 3:30 AM in New York, that is the question. S&P fucutures have recovered to Friday's early trading range before the plunge. The downtrend line is under attack. Hourly oscillators are on the verge of turning up from their zero lines, which would be very bullish. And the 5 day cycle projection is around 3525. 

tvc_7b8da7558d30411241faa50611c7ab7b.png

 

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Here’s why and what to do about it.

The chart pick screens are spitting out a ton of interesting patterns. I’m adding 9 picks this week, 7 long and 2 short. 4 picks were stopped out last week and one which was a symbol error was also closed. That will leave 18 open picks, including 14 longs, and 4 shorts.

Technical Trader subscribers, click here to download the report.

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

Past performance doesn’t indicate future results. There’s always risk of loss. Chart picks are for informational purposes only. These reports are geared toward professional investors and experienced individual traders. Do your own due diligence before trading.

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As a result of this massive rally, my Liquidity Trader service has suffered notable net attrition.  My guess is that I'm not alone. Investors don't need market letters in bull markets. Everybody's a genius in a bull market

If you have never subscribed, and are curious, now is a good time to take advantage of the 90 day risk free trial. Whether you decide to continue the subscription or not, you'll get your money's worth 😄, and I will appreciate your support!  Try all the services and keep the ones that you want. The cost of the ones you don't keep will be refunded and will cost you nothing. 

Stay safe out there. I'll help you try to stay safe in this market. 

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RE from Liquidity Trader.  "Why they didn’t spend more to boost the Regime’s election chances is, to paraphrase Churchill a mystery, wrapped in a fiddle, inside of an enema. We may never know."

Of course we know. Congress did not appropriate the spending so there it sits in the Treasuries Account. Why congress didn't appropriate more spending for 'stimulus' is easy as well. The GOP lead Senate  will not consider any spending that sends free money to Untermenschen.  Not before the election anyway and if Trump loses then this Senate, which ends on Jan 3, will not spend much or any more..

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7 minutes ago, Jorma said:

RE from Liquidity Trader.  "Why they didn’t spend more to boost the Regime’s election chances is, to paraphrase Churchill a mystery, wrapped in a fiddle, inside of an enema. We may never know."

Of course we know. Congress did not appropriate the spending so there it sits in the Treasuries Account. Why congress didn't appropriate more spending for 'stimulus' is easy as well. The GOP lead Senate  will not consider any spending that sends free money to untermenschen or untermenschen lovers.  Not before the election anyway and if Trump loses or just  doesn't stay on, somehow, then this Senate, which ends on Jan 3, will not spend much or anymore period.

 

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Perspective- This is a return to the neckline of the base breakout. Much deeper, and the bulls are in trouble. 

2 hr bars. Click to enlarge

tvc_4adaf305b574b7695b2124d2da6933fe.png

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