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Stonks Walking The High Wire 4/28/21

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They're hanging around up here, balanced on the tight rope swaying in the breeze. How are your nerves. 

The indicators are hanging around just above the zero line as this sucker moves across the chasm. If this starts to break out and the indicators begin to move up, the move could be gigantic. There should be some resistance around 4195-4205, but if they surpass that, it's wide open spaces above. 

Trend support is right here at 4183. And around 4172. I'm not thinking about shorting unless it breaks that, and then comes up and bumps its head. Path of least resistance still appears to be up today. 

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Markets Awash in Cash – Where, How, and How Long, Revealed

Stock Market Gets Knocked Down But Still Packs Punch

 

 

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Yesterday's screen game was a virtual tie with 13 buys and 14 sells. 

This is swing trade buy signals vs. sell signals from yesterday's action.  

We could still be under the influence of the 58-16 bull win from Monday's action. And that could be a second wind off the thrust of the 155 buy signals that started the 6 month cycle up phase back on March 28. That was the Big Kahuna.

This is raw data. These are not recommendations. They represent charts that have triggered short term signals near key cyclical support or resistance levels. Pick through these and see if there are any that you like from your own charts. Feel free to post your charts here with comments. 

You can see which ones I actually pick each week by subscribing to Technical Trader. 

Get ’em While They’re Hot – Swing Trade Picks For Week of April 26, 2021

Here is today's  output. 

Symbol Buy Sell 500 200 125 50
ALDX.O 1 0 0 0 0 1
AON 1 0 0 0 0 1
CNHI.K 1 0 0 0 0 1
CUK 1 0 1 0 0 0
DVAX.O 1 0 0 0 0 1
FANG.O 1 0 0 0 0 1
HSBC.K 1 0 1 0 0 1
MOMO.O 1 0 0 0 1 1
NYCB.K 1 0 0 0 0 1
RF 1 0 0 0 0 1
ROKU.O 1 0 0 0 0 1
STT 1 0 0 0 0 1
TEAM.O 1 1 0 0 1 0
ARKW.K 0 1 0 0 0 1
ARMK.K 0 1 0 0 0 1
CIEN.K 0 1 0 0 0 1
CMI 0 1 0 0 0 1
DOCU.O 0 1 0 1 0 0
EWJ 0 1 0 0 1 0
LYB 0 1 0 0 0 1
SBS 0 1 0 0 1 0
SCHP.K 0 1 0 0 1 0
SPOT.K 0 1 0 0 0 1
SQM 0 1 0 0 0 1
SYF 0 1 0 0 0 1
VRTX.O 0 1 0 0 0 1
             
Totals 13 14 2 1 5 20
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I rewrote the above, in case you recognized that I had copied yesterday's post prior to 9:00 AM ET. 

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I'm trying to figure out why the Fed would be borrowing $130bn via coupon issues on Friday when on the other hand they are desperately trying to shrink their balance by paying down bills.

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I came across this the other day. Perhaps the greatest newspaper headline in history.  I can't find a link to it anymore via Google so I suggest people save it for themselves and posterity.

wankt.jpg

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They never deviate from the coupon issuance schedule. I can't remember them doing it, other than when there's a debt ceiling impasse. 

It's about "market functioning."

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52 minutes ago, Mkucstars said:

Well, i held my IWM shorts overnight, switched to shorting the spike on the q's... so far so good!

👍

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