DrStool Posted September 24, 2020 Report Share Posted September 24, 2020 Here's that beautiful 2 hour bar chart again. It sure looks like it's trying to bottom here, if you look at where it is, and the behavior of the lower indicators. In addition, the 5 day cycle projection of 3218 was hit. But I would have expected more of a V. Instead, it's just lying there. Cue Jaws theme. On the hourly bars, the indicators have turned, saying that the bottom is in. But not saying what shape the up phase takes. Sideways would be bearish. Bulls need it to clear 3240. Otherwise, they got nuttin! NUTTIN' I tell ya! On the 30 minute bars, the indicators look bullish with the ES forming a double bottom. But again, they need to break that downtrend. The number to beat on this chart is 3232. That should be enough to confirm a stronger 5 day cycle up phase and perhaps more. But if they don't break 3232, then they go at least to the trend support line at 3195, or worse. Link to comment Share on other sites More sharing options...
DrStool Posted September 24, 2020 Author Report Share Posted September 24, 2020 OK. They broke the downtrend on ES Next up, get through 3240. Link to comment Share on other sites More sharing options...
DrStool Posted September 24, 2020 Author Report Share Posted September 24, 2020 No traction from that. It will be brutal if this low doesn't hold. Crashes come from failed bottoms. Link to comment Share on other sites More sharing options...
DrStool Posted September 24, 2020 Author Report Share Posted September 24, 2020 Just took out yesterday's low. Link to comment Share on other sites More sharing options...
fxfox Posted September 24, 2020 Report Share Posted September 24, 2020 We are now in an „bad news is bad news“ environment. This is an outcome of a lack of liquidity. Vice versa when „bad news is good news“ means there is enough liquidity there to bomb the markets higher. Is my interpretation correct, Doc? Link to comment Share on other sites More sharing options...
fxfox Posted September 24, 2020 Report Share Posted September 24, 2020 I think if they don‘t intervene we are going directly to the 2 hunnert daily. TODAY. Link to comment Share on other sites More sharing options...
DrStool Posted September 24, 2020 Author Report Share Posted September 24, 2020 37 minutes ago, fxfox said: We are now in an „bad news is bad news“ environment. This is an outcome of a lack of liquidity. Vice versa when „bad news is good news“ means there is enough liquidity there to bomb the markets higher. Is my interpretation correct, Doc? You are here. That's bullish. 😁😁😁 Link to comment Share on other sites More sharing options...
Jimbo Posted September 24, 2020 Report Share Posted September 24, 2020 I did suggest some time ago. That an "Avoid October strategy" Might be enough to put a top in in September. I think this is palying out right now. Link to comment Share on other sites More sharing options...
Jimbo Posted September 24, 2020 Report Share Posted September 24, 2020 Just now, Jimbo said: I did suggest some time ago. That an "Avoid October strategy" Might be enough to put a top in in September. I think this is playing out right now. Link to comment Share on other sites More sharing options...
DrStool Posted September 24, 2020 Author Report Share Posted September 24, 2020 Covered that bluest of blue chip bank mofos. I'm long a couple of health care numbers since yesterday afternoon and this morning. Also a REIT in the tech end of things. Link to comment Share on other sites More sharing options...
DrStool Posted September 24, 2020 Author Report Share Posted September 24, 2020 From late yesterday and this morning. Got killed on the one from yesterday. Link to comment Share on other sites More sharing options...
DrStool Posted September 24, 2020 Author Report Share Posted September 24, 2020 The GOLEM LIVES! LONG LIVE THE GOLEM! Link to comment Share on other sites More sharing options...
DrStool Posted September 24, 2020 Author Report Share Posted September 24, 2020 Uncomfortably, I am naked long. But only in story stocks that had pulled back to near 200 or 100 day Triangular avgs. ES had a slightly lower low with strong positive divergences on hourly and half hour basis. Classic short term bullish setup. This is not the last word. They must sustain above 3240. Otherwise, there will be carnage. Link to comment Share on other sites More sharing options...
DrStool Posted September 24, 2020 Author Report Share Posted September 24, 2020 If they don't get back above 3240, some bad hell comin'n this afternoon. Anybody see what Trump said about leaving office if Biden wins? Link to comment Share on other sites More sharing options...
DrStool Posted September 24, 2020 Author Report Share Posted September 24, 2020 Link to comment Share on other sites More sharing options...
Recommended Posts
Archived
This topic is now archived and is closed to further replies.