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Post by clinton on Oct 13, 2016 10:21:20 GMT -5
crazy how market likes to rally around 11:30
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Post by dino on Oct 13, 2016 10:22:07 GMT -5
Sorry - SPX, not SOX. Typo... thats an index too. hehe Crap, just seen this and yes, it's an index. Meant SPY!!!
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Post by walnut on Oct 13, 2016 10:29:20 GMT -5
Crap, just seen this and yes, it's an index. Meant SPY!!! Sounds like you'd better be extra careful entering your orders today haha
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Post by huh on Oct 13, 2016 10:32:27 GMT -5
Looking good for a pivot bottom to me. This was the last significant pullback I'll hold long through until S&P is much, much lower (this was actually the first one I held this year - I had seen the others coming, but this one broadsided me)
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Post by walnut on Oct 13, 2016 10:37:00 GMT -5
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Post by walnut on Oct 13, 2016 10:59:16 GMT -5
There's more down coming soon. Might be a moderate green candle, but there is a longer red bar coming
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Post by dino on Oct 13, 2016 11:49:19 GMT -5
C, JPM and WFC report earnings before market open tomorrow Got me a little FAS. Time to turn everything off and go hide under my desk. I peaked. Me likey so far. Need to keep it that way now...
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Post by walnut on Oct 13, 2016 11:50:41 GMT -5
Seems like a shortable moment to me
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Post by walnut on Oct 13, 2016 11:52:17 GMT -5
The music of losing money
Hey, it's a nice tune.
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Post by huh on Oct 13, 2016 12:52:17 GMT -5
I'm looking for an S&P daily candle at least like that made on 02/11. So far it's a little better than that.
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Post by huh on Oct 13, 2016 12:58:18 GMT -5
A bottom here would likely look a lot like the 08/25/15-09/29/15 or the 01/20/16-02/11/16 bottoms (each were about a month wide), and could get S&P to 2230's-2240's
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Post by huh on Oct 13, 2016 13:10:21 GMT -5
Nat Gas will likely make one hell of a short set-up in the 3.40's/3.50. ~3.45 fills an upside gap from way back mid Dec '15
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Post by huh on Oct 13, 2016 13:14:57 GMT -5
Somebody on ST just said:
"$SPY turning green is possible"
Uh, ya think? Up 20 points off the bottom and NOW you call that possibility? Gotta love those "play callers".
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Post by dino on Oct 13, 2016 13:42:04 GMT -5
miners just popped
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Post by huh on Oct 13, 2016 13:51:14 GMT -5
Nat Gas will likely make one hell of a short set-up in the 3.40's/3.50. ~3.45 fills an upside gap from way back mid Dec '15 Sorry, that gap is actually from mid Dec '14
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Post by walnut on Oct 13, 2016 14:23:06 GMT -5
The VIX contango curve is not buying this yet
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Post by huh on Oct 13, 2016 14:30:56 GMT -5
The VIX contango curve is not buying this yet Yeah, I noticed that. And compared to the typical relative action with the S&P, UVXY is 3% higher than normal on the day. But nothing a gap open couldn't quickly cure.
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Post by dino on Oct 13, 2016 15:22:46 GMT -5
I hope you're right as the depth of this pullback really caught me off guard. Mostly because AAPL, gold miners, energy and large banks all performing relatively well versus the market. These have all been recent major market leaders. The first two green on the week yet while the other two basically flat. I hope I'm right too. lol. Picked up some TNA, UPRO. Nice daily up channel on SPX and ES going back to January this year. We're tagging the bottom right now. Even though that close drifted lower from the highs, we still left a very nice tail on the daily candle. SPX and ES (so far). Nice bounce off the bottom of the channel as well. Let's see if it holds...
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Post by jacksrbtr on Oct 13, 2016 15:45:22 GMT -5
There's more down coming soon. Might be a moderate green candle, but there is a longer red bar coming Yer starting to sound like the "Game of Thrones": WINTERS COMING
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Post by huh on Oct 13, 2016 15:56:55 GMT -5
A bottom here would likely look a lot like the 08/25/15-09/29/15 or the 01/20/16-02/11/16 bottoms (each were about a month wide), and could get S&P to 2230's-2240's Of all the 2nd bottoming candles this year (in blue), this potential one was perhaps the most bullish due to it closing higher than its open in combination with the size of that bottoming tail. (I used OHLC bars to try to make it easier to see) To be clear though, today was only a potential bottom. Below is a closer look at that action. Get over today's HOD, even if with a gap up, and the final FIB for this down move is broken and downtrend over IMO. Perhaps until as high as ~2245. But until then, it's only a retracing bounce. However, I'm optimistic.
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