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Thread: FogSailing's Account Talk

  1. #985

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    Default Re: FogSailing's Account Talk

    Several analysts see a short squeeze to 2466 if S&P can break 2448. They would be selling into the bounce. Many are bearish in the short term. Here are a few graphics I found that I thought were interesting. The hard data came from ZH. I really don't like or follow ZH but it indicates that Fed money has done a good job of keeping this economy afloat amid the real data. Just FYI.

    transports-potential-repeating-pattern-1999-2007-update-aug-10-1.jpg

    USHardData.jpg

    FS
    FogSailing
    Try to learn something about everything and everything about something.

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  3. #986

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    Default Re: FogSailing's Account Talk

    Still expecting more pullback next week. Looking ahead (1) U.S. TRADE OFFICE SAYS FORMALLY LAUNCHES SECTION 301 INVESTIGATION INTO CHINA TRADE PRACTICES REGARDING TECHNOLOGY AND INTELLECTUAL PROPERTY and (2) US and South Korea are scheduled to conduct military exercises next week. Think I'll hunker down until after the eclipse.

    Also, very interesting article on inflation and climate. Just FYI. Warm Temperatures Mean Lower Inflation, To a Point - Free Weekly Technical Analysis Chart - McClellan Financial

    FS
    FogSailing
    Try to learn something about everything and everything about something.

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  5. #987

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    Default Re: FogSailing's Account Talk

    NK missile launch looks to still be news today as well as lack of tax plan. Expecting market sell off to 2430 or lower. If SPX bounces at 2428 pivot and closes above 2436, I expect a rally. If not, I see a continued pullback to 2411. Guessing it's a good time to buy gold and silver again.

    FS
    FogSailing
    Try to learn something about everything and everything about something.

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  7. #988

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    Default Re: FogSailing's Account Talk

    SPX bounced at 2428 and now above 2436 at 2241. Will be interesting to see where it ends today. Any guesses? I predict 2437 with a short squeeze in the am, then who knows.

    Winner gets an "atta-boy or "atta-girl"

    FS
    FogSailing
    Try to learn something about everything and everything about something.

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  9. #989

    Default Re: FogSailing's Account Talk

    How about 2,446.30

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  11. #990

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    Default Re: FogSailing's Account Talk

    "the biggest mistake that traders make is to let these short-term trades turn into longer-term investments when they don’t work." RevShark


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  13. #991

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    Default Re: FogSailing's Account Talk

    So what do you think it will rally to?

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  15. #992

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    Default Re: FogSailing's Account Talk

    2455 is my guess for a high today EA... yesterday was a small rally but no breakout..everything is still constrained and rangebound within the Fib pivots 2428 and 2456.

    FS
    Last edited by FogSailing; 08-30-2017 at 09:24 AM.
    FogSailing
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  17. #993

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    Default Re: FogSailing's Account Talk

    Very close, better than expected 2,457.59

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  19. #994

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    Default Re: FogSailing's Account Talk

    I know EA. It's an interesting set up for today. The final 2457.59 is above the Fib pivot 2456 so a bullish end top the day. People are talking about 3 white soldiers and a green candle on the blogs. Lots of joyous exuberance out there. Bulls are saying above 2458 and we go to 2468 with a possible Fib extension to 2484 (for Elliott wavers). On the other hand, a lot of risk for a small gain if the Mr. Market decides the party's over.

    FS
    FogSailing
    Try to learn something about everything and everything about something.

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  21. #995

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    Default Re: FogSailing's Account Talk

    Well, the market went up up up this week. With the earlier decline down to 2454 it seemed like a pullback was in the works. NAZ made 3.9%, Dow 1%. Wow, what a turnaround. Will it now continue through pivots 2484, 2500 and ultimately 2525. If I can get lucky with either sideways action or a small pullback on Monday, I think I'll jump back in. Upside action looks promising given MACD and RSI. Good luck all.

    FS
    FogSailing
    Try to learn something about everything and everything about something.

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  23. #996

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    Default Re: FogSailing's Account Talk

    Feels like a shakeout day. Market is fluctuating in strange ways. NAZ is up. Other indices are down. Yield curve is down surprisingly when the market seems so bullish. Yen is down but metals and bonds are both positive. Downward movement of yen makes me think of coiled spring. I think tomorrow is going to be a giant day for the I Fund. Dollar is down as well which is only thing that makes sense. Best of luck out there.

    FS
    FogSailing
    Try to learn something about everything and everything about something.

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