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In the Battle Between Reason and Religion, Religion Wins 9/17/21

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I was wrong about Sell Rosh Hashana, Buy Yom Kippur. I thought it wouldn't work this year. I was wrong. When it comes to Wall Street religion, and my analytical opinion, religion wins. It's not about logic. It's not about facts. It's religion! For the WIN! 

This trend channel that began on September 6 has become a thing of beauty. The resistance cluster that they would need to clear to break that trend, is now around 4480-82.  If they don't get through that, this could start to get real interesting. That will be true in particular if they drop through 4447. 

tvc_61985e4dbb63cbfa6b459c1328bb5962.png

At this point, the 2-3 day cycle projection only points to around 4445. That would not be enough for a material break. 

So we'll be waiting,
For a material break,
Waiting for a material break.
I said we be waiting,
For a material break, 
Not just an immaterial shake. 

Yes, we'll be waiting,
For a material break,
Waiting for a material break.
I said we be waiting,
For a material break, 
Not just an immaterial shake.  

Sing it with me now. 

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Meanwhile, for your infotainment and edification:

Get Ready for the Coming Bond Market Bloodbath

Lots of Sell Signals Again From Friday’s Swing Trade Screen

Constructive Signs for Gold Digging

Nothing Has Happened Yet

Useless Banking Indicators Except for One Giant Red Flag

 

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Tuesday was Selling climax, needed more days before next selling wave begins. 

4 days of market going nowhere will reset the next wave down.

If the Top is in then we will not see NDX, SPX or Dow High for sometime.

 

 

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They've already confirmed the downtrend with a lower low by a hair. Also hit a revised 5 day cycle projection of 4440 or fight, but that won't be the last word if they break this low. Could get much worse. We'd be looking at a 5 day cycle projection of 4410. 

tvc_3e44e955da0fd1cc13f358d6d15c2bb8.png

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I too wondered where the yellow went. Look no further than Fed RRPs. That cash is just sitting there. Remember. It's overnight money. Same as cash. 

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Articles like these make me sick....Black Rock was pumping gold a year ago. sell gold and buy stocks? really at these levels? gold and silver relative to the S&P500 is very cheap. Can get cheaper but not nearly as cheap as buying stocks at alltime highs.

https://finance.yahoo.com/news/blackrock-fund-manager-cut-almost-163756248.html?guccounter=1&guce_referrer=aHR0cHM6Ly9jaXRpemVuZnJlZXByZXNzLmNvbS8&guce_referrer_sig=AQAAAEGfs1RP7xGKG4no0hQY_b-89Os72WavLkXiCVp2EicFSNu5CqroaEDIAMI3mKVQ5T8jR6qENgHByavBc2lfzjz66DmetCk8fCjjy5qT5q5cODPT_4_yrMVkPtsBX5huEChzQNMtXHqV2SS22HjJQKr1xih2O8QvKC9-KsweI_vx

 

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1 hour ago, potatohead said:

Articles like these make me sick....Black Rock was pumping gold a year ago. sell gold and buy stocks? really at these levels? gold and silver relative to the S&P500 is very cheap. Can get cheaper but not nearly as cheap as buying stocks at alltime highs.

https://finance.yahoo.com/news/blackrock-fund-manager-cut-almost-163756248.html?guccounter=1&guce_referrer=aHR0cHM6Ly9jaXRpemVuZnJlZXByZXNzLmNvbS8&guce_referrer_sig=AQAAAEGfs1RP7xGKG4no0hQY_b-89Os72WavLkXiCVp2EicFSNu5CqroaEDIAMI3mKVQ5T8jR6qENgHByavBc2lfzjz66DmetCk8fCjjy5qT5q5cODPT_4_yrMVkPtsBX5huEChzQNMtXHqV2SS22HjJQKr1xih2O8QvKC9-KsweI_vx

 

Nothing is free from Crooks. 

Free things cost you money.

Just like Google and FB. They know more about you then your self.

 

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Today market has hit my trendline. Not the time to short the market.

Gap fill will come in play. No water fall yet. Waterfall will come at latter date.

 

Full moon is in play (it has inverted and become bearish) just like New Moon Top in SPX, NDX

 

 

wolf-1.webp

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