Northie still looking for the top as well:
https://www.youtube.com/watch?v=8XLj910ywls
Had that pizza in Italy (in Florence)...I very much prefer American pizza!
Interesting that both of these permabears are predicting a major top in September using totally different methods, and both predict what comes next will be several years of horrific pain....
Charles Nenner - https://www.youtube.com/watch?v=A8hhupeA14M
Robert McHugh - Looks Like the Next Major Stock Market Top Will Arrive in October 2017 | Robert McHugh | Safehaven.com
Short-term, I'm still looking for a decent sized pullback and am staying in F through a vacation next week where I'll be eating pizza in Naples and sipping espresso in Cannes.
Northie still looking for the top as well:
https://www.youtube.com/watch?v=8XLj910ywls
Had that pizza in Italy (in Florence)...I very much prefer American pizza!
Can't beat good NY pizza! I've been enjoying various preparations of schnitzel this week in Germany, that never took off in the US like pizza has...
50% S, 50% C 06 Mar, was 100% G; 80% S 20% C COB 08 Jan '24; 100% G COB 14 Nov; was 100% C COB 31 Oct (Boo!); was 100% G COB 12 Oct; was 50% C, 50% S COB 22 Jun; Life is good!
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Per this Elliott wave guru the S&P could be within 3% or so of the very tippy top of the bull market...wave 5 could extend though...
https://pbs.twimg.com/media/DBz4wR9XgAE-0Cw.jpg
https://twitter.com/PUGStockMarket
Hmm, did the tech bubble burst today?
Has the Tech Bubble Finally Burst? | FS Staff | FINANCIAL SENSE
Looking at a chart of the most overvalued stock on the chart in that article, AMAT, it does look ripe for a big fall...
AMAT - SharpCharts Workbench - StockCharts.com
And a look at Google, it had reached the end of a textbook "T" today, ready for a collapse, and sure enough it did...
GOOG - SharpCharts Workbench - StockCharts.com
Support for the Nasdaq-100 is down near the 200-dma, which is about 10% lower from today's close...
21052017
And then there's bitcoin...I've never seen MACD reach such an extreme level so quickly as it has in this bitcoin trust fund, and this week it finally mattered...
GBTC - SharpCharts Workbench - StockCharts.com
Hmm
Divergences are building, getting close to Northie's 2458 target...which is also a target of an Elliott wave guru...
https://northmantrader.com/2017/06/0...cts-surprises/
I'm a nervous holder at this point. I was at +6.15% for 2017 a couple days ago and would like to get back above 6% by Monday and likely bail out. The last couple days look corrective, so I'm still expecting at least one more surge.
Today also happens to be the strongest Bradley turn date of 2017... https://goo.gl/images/NQHhd2 but I've found that to be pretty useless.
Hmm, so maybe that Bradley turn date will produce something of significance this time.
6/19/17 comments from Peter Eliades:
Consensus Financial Commentary
So far so good for him calling a significant top to the day, but as he points out, the A/D line projects higher highs ahead.
Economic indicators aren't weak enough yet for "the" top to happen yet, but I wouldn't be surprised by a 5-7% or so drop to shake things up.
I agree TS. I think we are still in a strong bull but some type of correction is/will occur. Keeping my eyes open.
FS
FogSailing
Try to learn something about everything and everything about something.
Scanning through today's IFTs... About half and half going all-in or all-out. My feel (after looking through charts of all 20 of my dividend stocks portfolio, which is doing great, up 11% through the first six months of 2017 including dividends) is that the large caps are on their last gasp and the S&P and Dow will join the QQQ's in a summertime pullback starting Wednesday, so I'm fine sitting in G for a while longer. For the QQQ's, there's a big juicy gap down around $133, so that's my target for my current holding of QQQ puts. It could get uglier than that though if the S&P lets loose a correction of 7% or so, which is much-needed.
Above the Green Line - Jul 3, 2017 Buy high, and Sell Higher: Momentum Investing - Joanne Klein - Public ChartList - StockCharts.com
Argh, TD Ameritrade has been completely down for 30 minutes or so. I've never had this happen in the 15 years or so I've been with them and their predecessor Datek. Fortunately I have no urgent trades to make.
TD Ameritrade Down? Service Status, Map, Problems History
I wonder if that's a bad sign?
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