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Post by huh on Dec 14, 2015 11:54:48 GMT -5
If (IF!!!) market could produce a squeeze here, it would be amazing - like something rarely ever seen in the indices.
Currencies are NOT currently suggesting a squeeze will happen - in fact they're suggesting otherwise - but if it did it would really be something. But a trader can dream, right?
Highest SPX intraday resistance sits ~2015 (there's a lot of little resistances between here and there, 2002.50 is the next one). And unfortunately the squeeze trigger now sits all the way up ~2050 (last FIB from 12/10 high and gap fill from 12/11 open).
But if SPX were able to move >2025, it would likely have another H&S-RS-Squeeze developing and would definitely be a signal to cover shorts since it would probably blow right past 2050 and into a blow-off top for a new high.
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Post by huh on Dec 14, 2015 12:04:50 GMT -5
VXX should be good until ~25.22 (at least) Support ~23.70 VXX 23.67 is now key support. Not holding my breath, but market could get that squeeze here (OK, I am actually holding my breath)
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Post by huh on Dec 14, 2015 12:08:22 GMT -5
...Highest SPX intraday resistance sits ~2015 (there's a lot of little resistances between here and there, 2002.50 is the next one)... SPX next upside resistance is 2006-2007.75, then 2011, then ~2015.25, then the 2025 area (potential H&S neckline backtest) Basically I see 2025 as the squeeze trigger area now - get over that and market's in full squeeze mode
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Post by walnut on Dec 14, 2015 12:17:34 GMT -5
If (IF!!!) market could produce a squeeze here, it would be amazing - like something rarely ever seen in the indices. Currencies are NOT currently suggesting a squeeze will happen - in fact they're suggesting otherwise - but if it did it would really be something. But a trader can dream, right? Highest SPX intraday resistance sits ~2015 (there's a lot of little resistances between here and there, 2002.50 is the next one). And unfortunately the squeeze trigger now sits all the way up ~2050 (last FIB from 12/10 high and gap fill from 12/11 open). But if SPX were able to move >2025, it would likely have another H&S-RS-Squeeze developing and would definitely be a signal to cover shorts since it would probably blow right past 2050 and into a blow-off top for a new high. Market has definitely lost its psychological momentum, even from a month ago, and will not as easily regain it now I think.
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Post by huh on Dec 14, 2015 12:22:07 GMT -5
It would be more comforting if HYG were participating with this market rise (>78.80 and it likely will)
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Post by huh on Dec 14, 2015 12:22:29 GMT -5
Market has definitely lost its psychological momentum, even from a month ago, and will not as easily regain it now I think. That psychology would change if S&P were to get over 2025 - or especially 2050 - and I'm sure there would be some big "news event" shortly thereafter to make make sure of that
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Post by huh on Dec 14, 2015 12:25:55 GMT -5
That would have put it in the 2070's from where it was trading then, right?
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Post by huh on Dec 14, 2015 12:28:50 GMT -5
GPRO (so many bearish patterns I'm running out of colors for it!) So GPRO down ~77% since I posted this. And now this: Citi On GoPro: We Were Wrong- Citi’s Jeremy David downgraded the rating on the company from Buy to Neutral, while reducing the price target from $75 to $22. - "Our timing could not have been worse"Yeah, it could be worse - they could downgrade it near the bottom now. LOL. I don't think it's seen its low just yet, but it's likely being accumulated down here under $20 I've been calling GPRO short since high 70's - my most recent downside target was ~14.50's, but anything around 15.60's and the bulls can have it back if they want it.
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Post by huh on Dec 14, 2015 12:33:02 GMT -5
If (IF!!!) market could produce a squeeze here, it would be amazing - like something rarely ever seen in the indices. Currencies are NOT currently suggesting a squeeze will happen - in fact they're suggesting otherwise - but if it did it would really be something. But a trader can dream, right? Highest SPX intraday resistance sits ~2015 (there's a lot of little resistances between here and there, 2002.50 is the next one). And unfortunately the squeeze trigger now sits all the way up ~2050 (last FIB from 12/10 high and gap fill from 12/11 open). But if SPX were able to move >2025, it would likely have another H&S-RS-Squeeze developing and would definitely be a signal to cover shorts since it would probably blow right past 2050 and into a blow-off top for a new high. 2015 area being tested now - this is the final intraday FIB (from HOD earlier) - this is the first real test today for bulls
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Post by huh on Dec 14, 2015 12:38:13 GMT -5
Remember, if oil can rally, then so can the market. Even if currencies say otherwise. That being said, oil in a major resistance area here between 36.50-36.90
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Post by huh on Dec 14, 2015 12:44:59 GMT -5
Market will probably whipsaw for a while since both bulls and bears are scared & confused now. 2015-2025 is key now to the upside, and IWM 110 to the downside.
BBL & BOL all
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Post by huh on Dec 14, 2015 15:37:17 GMT -5
Market will probably whipsaw for a while since both bulls and bears are scared & confused now. 2015-2025 is key now to the upside, and IWM 110 to the downside. BBL & BOL all Of all the good calls today, this one for whipsaw action may have been the best. Whipsaw action complete. Now for an SPX move >2027 to break all that upper resistance in one fell swoop.
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Post by huh on Dec 14, 2015 16:01:45 GMT -5
Market will probably whipsaw for a while since both bulls and bears are scared & confused now. 2015-2025 is key now to the upside, and IWM 110 to the downside. BBL & BOL all Of all the good calls today, this one for whipsaw action may have been the best. Whipsaw action complete. Now for an SPX move >2027 to break all that upper resistance in one fell swoop. They should've done a special 1/2 hour extension of regular market hours today - it would've hit then! LOL
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Post by huh on Dec 14, 2015 16:02:25 GMT -5
People are calling Sam's Club CEO 'racist' after she gave an interview about diversityNow here's the comment that ignited the uproar:
"Just today we met with a supplier and the entire other side of the table was all Caucasian males. That was interesting," Brewer said. "I decided not to talk about it directly with [the supplier's] folks in the room because there were actually no female, like, levels down. So I’m going to place a call to him." Can you imagine if a white male CEO said something like: "Just today we met with a supplier and the entire other side of the table was all African-Americans. That was interesting," Mr. White said. "I decided not to talk about it directly with [the supplier's] folks in the room because there were actually no whites, like, levels down. So I’m going to place a call to him" ? Even if you change what "Mr. White" said to all African-American males, and no women no for levels down, it still sounds pretty bad. Either way, he'd be fired no later than that evening. You'd think CEOs would be smart enough not to say stoopid things like this. DOH!
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Post by huh on Dec 14, 2015 16:19:07 GMT -5
The media all bearish over HYG now - just as it hits support HYG still held that support - I wouldn't short this until it closed under it - JMHO
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Post by huh on Dec 14, 2015 16:35:20 GMT -5
Everything you need to know about today's bounce, and what to expect tomorrow with one chart: If this doesn't break that resistance and loses support overnight, all of today's market gains will be wiped away. If it breaks higher, market gap'up and run.
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Post by huh on Dec 14, 2015 17:19:46 GMT -5
Dec. 14 at 5:18 PM RyanDetrick $SPX now 28 straight days without a back to back gain. Longest streak past 45 years. $SPY
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