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DrStool

Bears Long Weakend

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WMT on the verge of daily 200 over 900 death cross, after woefully weak attempt to reclaim the 200, which prolly had something to do with the 500 whacking it upside the head.

 

A big breakaway gap to the downside here could start something potentially very ugly....

 

Conversely, a big move up back above the 200 quickly could save the day fur boolz....

 

Nuther huge pivot here, as WMT has been riding the 900 for a very long time....

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Interesting place the ES chose to stop this morning, eh?

 

This is probably one of the bigger pivot areas we gonna see....short below that trendline, and long above would prolly not be a bad swing bet....

 

1045 looks like it is beckoning...but, if bears can bust it wide open on Monday, a major top is likely in place....

 

I remember 992. I think we need to break through the 50dma and remove the momentum on the daily along with the upward bias, but I wouldn't be surprised by a bounce from that moving average first.

http://www.StockSharePublishing.com/ChartL..._1254532565.png

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The fish who ate the smaller fish, who swallowed loads of toxic poison, showing a bit of relative weakness here in relation to the other mobsters above.

 

Read some of Reggie Middleton's stuff on this POS. Aint very pretty under the hood...

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The fish who ate the smaller fish, who swallowed loads of toxic poison, showing a bit of relative weakness here in relation to the other mobsters above.

 

Read some of Reggie Middleton's stuff on this POS. Aint very pretty under the hood...

 

I heard a veteran trader say if WFC goes under 22 the market will crash.

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Just finished updating all the charts and data for the big Fed Report update.

 

Ugly.

 

Ugly.

 

 

I'll be writing like mad in the morning to try to post by Sat. afternoon. Market update will follow. Long term update will be on Monday. Be real interesting if those long term indicator buy signals whipsaw. I don't recall ever seeing that happen before, so it's not a high percentage bet, but if they turn down from these levels, the market will have an historic crash.

 

These will be some very interesting reports, at what's looking like one of the most critical times in US history.

 

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GS trying to turn back down from what I am speculating was a final exhaustion pop over the 900. It is imperative that we get back under the 900 within days now to seal the breakout/fakeout....further highs from here could lead to whole nuther leg up, and start to turn that 900 from resistance into support....

 

 

GS and the other banks should be leaking their 3rd quarter numbers very very soon. So far this month looks just like July when that horrible job numbers came out the first days of the month and the rally stumbled. Then a few days later GS leaked their huge number and the market took off and didn't look back. So this week the market supposedly cared about the job numbers again. I'm skeptical.

 

GS can only disappoint if they choose to. Take a hit on some stool sitting in the subbasement. Why they would do such I thing I can't guess.

 

My preferred scenario is another good to great quarterly report by the Boys for one last drive to 10K. Which is probably too easy. In any case I think the GS number is going to be significant. If anyone follows these numbers what does it look like for GS and the rest and when are the official numbers coming?

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