Jump to content

Late Start for Market Rollover 8/26/22

Rate this topic


Recommended Posts

  • Replies 75
  • Created
  • Last Reply

Top Posters In This Topic

1 hour ago, PullMyFinger said:

Rule #1 remains intact? 

Rule Number One is immutable. You break the rule too long, you pay the price. 

Link to comment
Share on other sites

Quote

The final list of double screened output for last week had 14  charts with second or third buy signals on Thursday and Friday. There were 78 charts with second or third sell signals to end the week.  That’s a lot of sell signals. Friday on a standalone basis had just 8 buy signals and 35 sell signals. The large number of repeat sell signals suggested that I should find a number of short sale candidates as I undertook the usual visual review of the charts that met the multiple signal criteria.

I wasn’t disappointed. I added 7 shorts to the list this week,...

Swing Trade Screens – Hit the Jackpot Last Week, New Shorts This Week

Link to comment
Share on other sites

Quote

Meanwhile, the Street and its media handmaidens grasped for straws, and they found them. They found them in the “moderating” CPI report, and in the Fed meeting minutes. From these reports, they inferred that the Fed would err on the side of ease instead of constant tightening. Naturally, they misread the data and the fact that the Fed minutes are propaganda. Non-subscribers, click here for access.

So much for the narratives. The fact is that the market can only run counter to the macro liquidity trend for so long before the short covering and animal spirits that drive margin buying are exhausted. And if Wall Street is engaging in fantasy, as I think it is, then at some point, probably soon, a moment of recognition will set in. The selling will start, and the rally will reverse. Non-subscribers, click here for access.

Has Rule Number One Been Repealed?

Link to comment
Share on other sites

Guest
This topic is now closed to further replies.
 Share

  • Tell a friend

    Love Stool Pigeons Wire Message Board? Tell a friend!
  • Recently Browsing   0 members

    • No registered users viewing this page.
  • ×
    • Create New...