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Post by theMist on Nov 15, 2018 7:58:37 GMT -5
Jim's video
We are still in a short term down trend that still is consistent (but PROOF of...) with the idea of an inverted head and shoulders pattern.
This video also examines the nature of the last three dips to see if there are differences in the character of them. In fact, I think there are,
but you will need to watch the video to get the details. As for the symmetry of this POTENTIAL pattern, we need to rally tomorrow in order
for that symmetry to be maintained. Let's see what tomorrow brings...
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Post by theMist on Nov 15, 2018 8:06:47 GMT -5
S&P Daily Chart Because of this large throwback over neckline of potential iH&S beginning to think that we get a Santa rally but pattern is very large bear flag If you watch Jim's video or read his notes, he's even saying we need to rally like TODAY for symmetry lol The large throwback is going to seriously hurt performance thinking this whole year is forming a major top thinking something like below  screenshot software |
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Post by huh on Nov 15, 2018 8:17:57 GMT -5
Nice chart, Mist.
I think we'll see another pop yet - if only to have spot VIX backtest down ~15.25 again (currently 21.25, so a 28% down move).
Perhaps this morning S&P can fill that downside gap you mentioned yesterday and then run.
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Post by theMist on Nov 15, 2018 9:38:14 GMT -5
this could be the reversal day Bulls were looking for
need strong close
strong gap down after large move down with gap fill at 2685 area
we'll see...
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Post by huh on Nov 15, 2018 10:06:55 GMT -5
Now rally you turkey!
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Post by walnut on Nov 15, 2018 10:07:04 GMT -5
Spooky day as far as the indicators go.
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Post by clinton on Nov 15, 2018 10:08:16 GMT -5
ILL stick with being bearish
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Post by huh on Nov 15, 2018 10:39:29 GMT -5
Well, I got the turkey part right (me!) |
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Post by theMist on Nov 15, 2018 10:40:58 GMT -5
VXX gap filled 38.68 fwiw
Could be it for VXX rise for this run
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Post by theMist on Nov 15, 2018 12:19:56 GMT -5
ILL stick with being bearish one more rally back up and I join you |
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Post by theMist on Nov 15, 2018 13:35:35 GMT -5
S&P Hourly ChartAssuming the low is in and I believe it is here's the lopsided iH&S (with overextended rs) which really looks to me like a triangle and large bear flag I believe S&P will breakout to upside of it with year end rally but is highly suspect 
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Post by clinton on Nov 15, 2018 13:37:05 GMT -5
this is just robots sensing too many shorts
wont last
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Post by clinton on Nov 15, 2018 13:43:46 GMT -5
LONG XLF puts that expire tomorrow.
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Post by clinton on Nov 15, 2018 14:50:58 GMT -5
1min OBV on SPY is flat
algo magic holding market up
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Post by clinton on Nov 15, 2018 15:52:33 GMT -5
When Apple Is Breaking Down The Real POS Stocks Simply Crash – Mike Swanson (11/15/2018)
The stock market is gapping up this morning, but it has gapped up several times this week and just faded.
I believe we are in a serious corrective phase in the markets – and that is why the S&P 500 is trading below its 200-day moving average.
This is also why I did not think it was a good idea for people to buy the election gap up last week and said so before the open even in defiance of Wall Street bulls (anyone who would do that on TV would be banished forever). All it did was bring a wonder day that ended in a mess by the end of the week.
Now I do think we can get a bounce into Thanksgiving next week, but until there is a real panic washout this market is going to be be prone to rallies that go nowhere and crashes in individual stocks.
There are three stocks that have been said to be must own stocks over the past few years.
These three are Facebook, Nivida, and Apple and on some days they seem to be the only stocks people ever talk about, because all three are big cap tech stocks that had been major market leaders that never seemed like they could ever drop. That is until now.
Facebook of course has been in collapse ever since it reported earnings in July.
And starting in July Nividia too began to lag the stock market averages, but it didn’t really roll over and dump until October.
Look I like to buy stocks that go up.
Right now I am long stocks in a sector I like with some of my money, but I am also short stocks too – meaning I have bets against some deeply troubled individual stocks.
I wish I could put all my money into long stock positions and get rich tomorrow, but we are not in market like that anymore and so I am positioning myself accordingly by betting against junk stocks with a portion of my money.
When the stock market trends like this you have to adapt to the trends if you want to have winning trades. The good news is when bad stocks crash the gains come really fast.
Now what is happening is Apple too is now a broken stock.
Look at the chart.
Yesterday Apple closed below its 200-day moving average.
There is no longer any strong leadership stocks left in the Nasdaq.
Money has been flowing into defensive stocks in the past week – such as drugs, food, and utilities as the big cap tech fads have faded even more.
The idea of an election rally turned into a false hope.
But junk POS stocks are crashing sometimes overnight.
On Monday I put out a report of five stocks I am actually betting against with my own money for private Power Investor Members and you get it as a bonus to my offer on targeting POS stocks.
These stocks are moving now so fast that after today I am no longer going to promote this offer, simply because the entry point is just about gone for these trades.
When it comes to trading all I care about is making money.
There are a small few things that did go up Wednesday, but I don’t care about owning a stock like Apple just to be a fanboy.
The company STOPPED REPORTING HOW MANY IPHONES IT IS SELLING!
When it comes to trading if the best way to make money is to go long I’ll go long, but if it is to bet against junk stocks then I’ll bet against them with some of my money.
It’s as simple as that.
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Post by huh on Nov 15, 2018 16:15:35 GMT -5
Gobble Gobble
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Post by clinton on Nov 15, 2018 18:48:14 GMT -5
ES 2691 tomorrow
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Post by clinton on Nov 15, 2018 18:53:01 GMT -5
LONG XLF puts that expire tomorrow. that flush hit my target price but stupid order didnt fill. grrrr hope I get a second shot manyana |
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Post by huh on Nov 15, 2018 19:32:02 GMT -5
That was just about a perfect upside gap fill in VXX, and at the peak of a RS of a large H&S. That pattern should crush VXX for a bit but I wouldn't necessarily count on it hitting the H&S downside target for new all-time lows. Instead, watch for...
Spot VIX down to 15.20's.
And hopefully all this gets S&P up to 2880-2925. (maybe even AAPL to 222.22?)
Gobble Gobble
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