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Thread: FogSailing's Account Talk

  1. #1189

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    Default Re: FogSailing's Account Talk

    One of traders I follow has posted this EW scenario which is currently the main scenario I've been following for a while.. Based on the strength of the market, we could very possibly break out of the Bollinger bands and get to 3000+ territory before the C Wave arrives and down we go. Of course, there are many theories out there. Good luck to all in your investing.

    FS

    spx-expanded-flat-w4-05.14.2019-1.jpg
    FogSailing
    Try to learn something about everything and everything about something.

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  3. #1190

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    Default Re: FogSailing's Account Talk

    The last time 13 and 34 DMA's crossed was back in late January...
    The market has been on a tear since..
    They almost crossed back again yesterday..
    Suggest folks keep their eyes on that pattern..

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

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  5. #1191

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    Default Re: FogSailing's Account Talk

    I'm enjoying the ride up. Guessing it stops just short of 2900 with 150-160 point reversal. Sometime later next week, probably Friday. The wife and I are off to Texas for barbeque, country music, a few margaritas, and our 45th wedding anniversary. See everyone in a few weeks when we get back...

    FS
    FogSailing
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  7. #1192

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    Default Re: FogSailing's Account Talk

    Congrats on the 45th!

    Quote Originally Posted by FogSailing View Post
    I'm enjoying the ride up. Guessing it stops just short of 2900 with 150-160 point reversal. Sometime later next week, probably Friday. The wife and I are off to Texas for barbeque, country music, a few margaritas, and our 45th wedding anniversary. See everyone in a few weeks when we get back...

    FS
    Weatherweenie's Account Talk
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  9. #1193

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    Default Re: FogSailing's Account Talk

    Quote Originally Posted by FogSailing View Post
    I'm enjoying the ride up. Guessing it stops just short of 2900 with 150-160 point reversal. Sometime later next week, probably Friday. The wife and I are off to Texas for barbeque, country music, a few margaritas, and our 45th wedding anniversary. See everyone in a few weeks when we get back...

    FS
    Congratulations The Wife and I are at 41, but I've been married twice!!
    08/13/2019
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  11. #1194

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    Default Re: FogSailing's Account Talk

    FS, Congrats on #45. We celebrate #40 this year.
    May the force be with us.

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  13. #1195

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    Default Re: FogSailing's Account Talk

    WAVE COUNTERS ARE CONCERNED NEXT WEEK COULD BE TOUGH BY MIDWEEK..HERE'S A CHART. GOOD LUCK OUT THERE.

    FS
    FogSailing
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  15. #1196

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    Default Re: FogSailing's Account Talk

    Quote Originally Posted by FogSailing View Post
    WAVE COUNTERS ARE CONCERNED NEXT WEEK COULD BE TOUGH BY MIDWEEK..HERE'S A CHART. GOOD LUCK OUT THERE.

    FS
    What Chart?computer4.gif
    08/13/2019
    CRUDE Oil
    $57.16 +$2.17

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  17. #1197

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    Default Re: FogSailing's Account Talk

    I follow 2 wave counters....one is extremely bearish and one extremely bullish right now, I've never seen them at such extreme odds with each other. The bullish guy does allow for about a 4% further pullback though before the blastoff begins.


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  19. #1198

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    Default Re: FogSailing's Account Talk

    My guess is that we hit the 2720 area tomorrow and then bounce on Tuesday. I expect Wed-Thurs to be down to even. And no idea about Friday. And therein lies the big question. Macroeconomics teaches us that tariffs restrict optimizing the flow of goods. They result in a smaller economy. At some point, these tariffs are going to bite us. Markets are always ahead of the power curve. So I look to Friday to give us a sign on where things are really headed.

    FS
    FogSailing
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  21. #1199

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    Default Re: FogSailing's Account Talk

    Well, those tariffs are finally biting us in the ass. We have the big drop from 3029 with a healthy retracement and now, this week, what very much looks like a continuation down. As a wave counter.....If the initial drop was only “A” and the retracement was “B”, we now have i of C down looking for ii of C up with iii of C to follow. Still a very bearish situation because after iii of 3, iii of C is the teddy bear’s next best friend. What you need to “bear” in mind is a of ii of C on the ES made it to 2871.50 on the pre-cash market spike. ES is now in c of ii of C and there is no guarantee there will not be a truncation. Equities are very weak across the globe. FWIW 62% retrace lies near 2893. My opinion bullish above 2893 and bearish below.....from the for what it's worth department...

    FS
    FogSailing
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  23. #1200

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    Default Re: FogSailing's Account Talk

    That's the same count I'm seeing some gurus show. I'm banking on wave B not yet being over and with lots of jawboning next week from Jackson Hole and calming nerves in tariff-land that we'll actually see a decent bounce to at least 2950. I'm jumping in today. Wish I'd made the move yesterday since Friday's are almost always up and today looks to be a strong one, but I was travelling.

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