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Thread: coolhand's Account Talk

  1. #6685

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    Default Re: coolhand's Account Talk

    The grind higher continued on Tuesday, with small caps helping lead the way once again.

    2018-06-06_8-12-43.jpg
    DWCPF.jpg

    We can see the DWCPF breaking out with no upside resistance to stop it. No so with the S&P 500, which had a minor breakout the previous day, but still has significant upside resistance to contend with. Money is not exactly pouring in here.

    The options are bearish for Wednesday. My intermediate term system is bullish and breadth is still soaring higher. I get the impression that we may be seeing the final upside push before a major peak. I have no timeline on that, however, and the expectation for a peak is my opinion only. This looks like typical CB manipulation to draw as many bulls into the market as possible, while crushing the bears before a major turn back down.

    If you follow the technical picture, the market remains quite bullish.

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  3. #6686

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    Default Re: coolhand's Account Talk

    We are due some selling and sentiment has supported that, but with breadth running away to the upside it's going to be near impossible for the bears to gain any traction. The S&P 500 actually spiked higher today. That could be a sign of more to come, and I think it is. The options are neutral this evening. NAAIM reports tomorrow. The technical indicators are bullish. Things could get silly to the upside. While I am still looking for some selling, I am not holding my breath for it.

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  5. #6687

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    Default Re: coolhand's Account Talk

    The market tacked on some nice gains last week.

    S&P 500.png
    DWCPF.png

    Sell signals are not working particularly well at the moment. Breadth is too strong (it's actually getting parabolic). I do note that the DWCPF is showing RSI in sell territory now, though by itself that is not enough to get bearish. TRIN and TRINQ closed on the low side Friday, which could mean a pullback for Monday or at least some choppy trading.

    The options closed neutral on Friday. NAAIM is neutral. TSP Talk came in much more bullish, which is a bearish reading.

    For next week, I am neutral to bullish. We're due some selling, but until breadth backs off fighting this uptrend makes no sense.


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  7. #6688

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    Default Re: coolhand's Account Talk

    The market pretty much picked up where it left off last week as the major averages posted more gains to start the week. Interestingly, prices tumbled in the closing minutes to shave off a good portion of those gains. That is bearish action heading into Tuesday, but can we expect much of a pullback with breadth going parabolic?

    S&P 500.png
    DWCPF.png

    Volume was only average. Momentum is positive, but flat. The chart certainly remain bullish, though the S&P 500 has not hit another all-time high yet.

    The options look somewhat bullish for Tuesday.

    Overall, I see no reason based on the indicators to expect much change in market character. We could get some selling Tuesday, but the bulls remain solidly in control.

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  9. #6689

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    Default Re: coolhand's Account Talk

    Tuesday brought a mixed market. Once again, we're due selling, but traction on the downside is very limited.

    S&P 500.png
    DWCPF.png

    And we can see that the DWCPF remains in a steady uptrend.

    Breadth dipped just a tad today, but has been on a parabolic rise; a trend that has not been broken as yet. The options are leaning bearish for Wednesday (for what that's worth in this market). TRINQ closed low today, which is also bearish for Wednesday.

    We'll see how the short-term bearish indicators play out, but I am not particularly bearish.

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  11. #6690

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    Default Re: coolhand's Account Talk

    Quote Originally Posted by coolhand View Post
    Once again, we're due selling, but traction on the downside is very limited.
    Unless you are in cryptocurrencies...

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  13. #6691

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    Default Re: coolhand's Account Talk

    Quote Originally Posted by RealMoneyIssues View Post
    Unless you are in cryptocurrencies...

    Sent from my S9+ using Tapatalk
    That's called a buying opportunity.

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  15. #6692

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    Default Re: coolhand's Account Talk

    Quote Originally Posted by coolhand View Post
    That's called a buying opportunity.
    "Buy the Dip, Buy the DIP, BUY the DIP, DIP, DIIIIIIIP...."

    Buying the dip is getting OLD...
    Rules:
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  17. #6693

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    Default Re: coolhand's Account Talk

    Quote Originally Posted by RealMoneyIssues View Post
    "Buy the Dip, Buy the DIP, BUY the DIP, DIP, DIIIIIIIP...."

    Buying the dip is getting OLD...
    Once I firmly understood what was happening at the top of the food chain, I stopped worrying about it. Now is the time to accumulate. Once the CBs are wiped off the map, a new paradigm will emerge.

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  19. #6694

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    Default Re: coolhand's Account Talk

    Quote Originally Posted by coolhand View Post
    Once I firmly understood what was happening at the top of the food chain, I stopped worrying about it. Now is the time to accumulate. Once the CBs are wiped off the map, a new paradigm will emerge.
    Wha??

    What did you find out? And who or what is a CB?
    There are 10 types of people in the world. Those who know binary, and those that don't!!
    Retired on December 31, 2018!!

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  21. #6695

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    Default Re: coolhand's Account Talk

    Quote Originally Posted by uscfanhawaii View Post
    Wha??

    What did you find out? And who or what is a CB?
    Central Bank
    Rules:
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    - Don't put stuff in your signature that a Mod doesn't like

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  23. #6696

    Default Re: coolhand's Account Talk

    Quote Originally Posted by coolhand View Post
    Once I firmly understood what was happening at the top of the food chain, I stopped worrying about it. Now is the time to accumulate. Once the CBs are wiped off the map, a new paradigm will emerge.
    It's possible, but I wonder if the greedy dogs might not find a way to hold the collapse off much longer than we think....,the corrupt don't like losing and they play dirty! just a thought...don't put all the eggs in one basket......just in case....
    Don't take my comments as trading advice /IFT: 2-13-24=100G/https://www.theepochtimes.com/ & http://www.ewg.org/PermaCharts@p430#5159/strategy#4918p.410


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S&P500 (C Fund) (delayed)
coolhand's Account Talk
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DWCPF (S Fund) (delayed)
coolhand's Account Talk
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EFA (I Fund) (delayed)
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