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Post by huh on Oct 30, 2014 10:36:34 GMT -5
Given my recent track record with AAPL, please ignore the following post (for my personal tracking only): If AAPL loses 106.36, sets-up a small double-top target ~105.40. Second pattern (intraday bear flag) downside target ~105.43. Pretty crazy when it takes this much to get a stock down only ~1% off all time highs.
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Post by huh on Oct 30, 2014 10:45:06 GMT -5
I really believe the markets are about to "shoot the moon", especially XLF and IWM (consistently building higher lows right under resistance). Still waiting for confirmation. Perhaps once London closes. Elections next week so I don't see it..............more down than up in the ST JMO and BOL........ VIX has been falling all day with the market hardly moving. Down nearly 6% from the high already. I believe VIX could get crushed here in a big way before the election.
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Post by huh on Oct 30, 2014 10:49:17 GMT -5
XLF needs to hold 23.34 to maintain the short term bullish momentum. If it can break over 23.48, then next target is ~23.66, minimum. That would create a typhoon-like pattern, which would line up perfectly with my thoughts for the final leg up (blow-off top). XLF breaking out (small one). Next upside target 23.66.
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Post by huh on Oct 30, 2014 10:53:23 GMT -5
XLF needs to hold 23.34 to maintain the short term bullish momentum. If it can break over 23.48, then next target is ~23.66, minimum. That would create a typhoon-like pattern, which would line up perfectly with my thoughts for the final leg up (blow-off top). XLF breaking out (small one). Next upside target 23.66. ...and looks as if it's building for yet another parabolic target even higher than that.
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Post by huh on Oct 30, 2014 10:58:49 GMT -5
Why would markets fall into an election? S&P already up 9% in the two weeks leading up to it. I'm too lazy to find the post, but I had posted that the market would likely run-up as much as 9% into the end of October from the bottom of the pullback. And at the time, I thought the bottom would be higher than it was, so could get quite a bit more yet (another 4% perhaps).
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Post by huh on Oct 30, 2014 11:03:27 GMT -5
Found their footing alright. Tremendously bullish close for BAC. If this market doesn't gap down big tomorrow (and perhaps even if it does), bears aren't going to know what hit them after the next few days. Would like to see BAC hold 16.85 now. BAC LOD 16.84. (frickin' penny again!)
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Post by huh on Oct 30, 2014 11:04:15 GMT -5
XLF needs to hold 23.34 to maintain the short term bullish momentum. If it can break over 23.48, then next target is ~23.66, minimum. That would create a typhoon-like pattern, which would line up perfectly with my thoughts for the final leg up (blow-off top). XLF LOD 23.35 (frickin' penny again!)
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Post by Herceg on Oct 30, 2014 11:17:01 GMT -5
VIX scams up and Mkt. up................IMO that points to heading south.........
JMO and BOL...............
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Post by huh on Oct 30, 2014 11:22:47 GMT -5
Besides XLF and especially VIX, the other important chart to watch is IWM. Watch for a break above yesterday's high. If it does, that would break the last FIB of the entire pullback, confirm a bull flag (that actually happens over 114.15) and most importantly break above the downtrend line drawn across the 07/01, 09/03 and yesterday's high (really wish I could attach a chart of this one). That would get it popping big. And IWM still leads the other indices. It could drop down to ~111 from here to fill a gap while still remaining bullish. But if this turns out be a typhoon-like move in the indices, it likely won't fill those downside gaps first. JMHO Today alone, IWM has cut through both its 50 & 100dma's, and even tagged its 200dma with the HOD (to the penny). A close above 113.97 would confirm next upside target of 119.60's. IWM bull flag now breaking out (no backtest yet). Target 'coincidentally' 119.60's. ↑Confirms previous target from different pattern.
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Post by huh on Oct 30, 2014 11:26:08 GMT -5
Multiple resistances for IWM ~114.88, but a break above there puts it into typhoon mode along with XLF.
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Post by huh on Oct 30, 2014 11:31:35 GMT -5
Given my recent track record with AAPL, please ignore the following post (for my personal tracking only): If AAPL loses 106.36, sets-up a small double-top target ~105.40. I hate AAPL!
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Post by novie08 on Oct 30, 2014 11:38:39 GMT -5
Out JDST @26.25...such a little bit it doesn't matter much. May try again if there's a significant pullback. Tues. was scary, almost lost it. Kinda practicing with the 3X as they are very difficult for me to trade.
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Post by huh on Oct 30, 2014 11:43:51 GMT -5
It would take one heck of an 'event' if things like FB & TWTR are to fill their gaps...and both are building large topping patterns.
I doubt NFLX will fill its gap before more downside.
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Post by huh on Oct 30, 2014 11:54:03 GMT -5
Gone for the afternoon. Should these bullish breakouts fail, I don't want to be around to watch it! Bwahahaha
113.75-113.93 should now act as support for IWM, 23.46-23.48 for XLF
BBL & BOL all
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Post by walnut on Oct 30, 2014 12:35:20 GMT -5
SPY gone vertical.
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Post by Herceg on Oct 30, 2014 13:52:19 GMT -5
All red on my screen for such a green day...............
JMO and BOL........
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Post by crumbdon on Oct 30, 2014 14:00:01 GMT -5
Post-Fed pullback looming large. Can bulls save it? 10-yr says we are goin' down. I still haven't given up on this.
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Post by crumbdon on Oct 30, 2014 14:01:47 GMT -5
Wait-- which direction were you referring to??
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Post by huh on Oct 30, 2014 14:02:46 GMT -5
What happened to the rally!? Wow, leave Herc in charge for a bit and look what he does!
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Post by huh on Oct 30, 2014 14:10:18 GMT -5
XLF backtested the breakout point of 22.48. Don't want to see it lose that, otherwise this whole rally was nothing. BAC support is 16.90.
IWM is hard to tell. Seeing a flash low at 1:37 at 113.94, but not sure if that actually happened, if it's because of the NYSE problem or if it's a phantom print. But either way, sure looks like those that missed this move while the NYSE was down will at least get a redo, doesn't it?
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