Yep that run up last week past 2800 had folks thinking we've busted through the resistance and it's smooth sailing from here...not so says Mr. Market....
Morning gains are gone... pop and drop?
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!
Yep that run up last week past 2800 had folks thinking we've busted through the resistance and it's smooth sailing from here...not so says Mr. Market....
"the biggest mistake that traders make is to let these short-term trades turn into longer-term investments when they don’t work." RevShark
Rolling over? RSOTC saying this last rally was a bear market rally, which would portend another significant leg down. I hate sitting on my hands and technically being in the red from last year, but... should the bottom drop out, best to have dry powder. Still, others saying S&P 3000 is a target for this year. Taking a longer term approach, still trying to get a feel for it.
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!
Nice pop yesterday, futures are off today on growth worries in Europe, so I think the jury is still out on direction. C fund poked above resistance, S fund seems to be knocking at the door.
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!
Well this weeks darling (the S Fund) is taking it in the shorts today, down over 2.5%. I misplayed March big time earlier this month and have no choice but to sit on my hands and watch. I think today is going to leave a mark on a lot of folks...
"the biggest mistake that traders make is to let these short-term trades turn into longer-term investments when they don’t work." RevShark
Wave counters are discussing three scenarios:
Speculation #1, if 2860 was the top of the upswing from 2334 then we can start making projections on next moves.
a. If 2860 is wave a of B, then the 2660-2597 area will act as support for b of B, with c of B printing a high over 2860 in coming months, with wave C of 4 down starting only then.
b. if 2334-2860 is all of wave B, then 2660-2597 would probably only be a temporary obstacle and SPX would eventually continue down to under 2300.
c. If SPX reverses next week and keeps the pressure up then the 2870-90 area as top instead of 2860 is back into play. And new calculations will be made.
In other words, it will either go up or down. But I always note the likely pivot levels (2597 and 2860), which are always good data to have in your hip pocket.
FS
FogSailing
Try to learn something about everything and everything about something.
Tom,
I bookmarked TSPTalk some time ago, when I called it up from that bookmark the commentary date Sep 23, 2016. Not sure why as the link is simply "http://www.tsptalk.com/comments.html"
Is this page spawning from the server? Would it be possible to call up commentary from specific dates? That would be cool to see historical commentary from various times where the market was up, or down, or bottoming, etc. Thanks!
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!
https://www.tsptalk.com/mb/blogs/tsptalk/
Calendar in right margin.
[COLOR=#0000ff][FONT=comic sans ms][I]"In the land of idiots, the moron is King."--Unknown[/I][/FONT][/COLOR]
[COLOR=#0000ff][FONT=comic sans ms][I]"In the land of idiots, the moron is King."--Unknown[/I][/FONT][/COLOR]
Thanks usercuz!
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!
Well, I've been out of it for a while, lackluster gains... bearish much? Seems so... I've even dropped off of the Top Poster's List.
Need to get my mojo back. Any suggestions on mojo rejuvenation?
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!
Bourbon!!! Best mojo finder in existence!
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