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Thread: coolhand's Account Talk

  1. #7225

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    Default Re: coolhand's Account Talk

    We got more selling early today, but once more the bulls mounted some measure of a counter for a mixed close overall. There is no really technical damage to the charts to this point.

    Both the OEX and CBOE are bullish this evening. Breadth remains bullish, but is now under pressure. NAAIM reports tomorrow.

    The overall picture has not changed. The melt up is likely to continue.

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  3. #7226

    Default Re: coolhand's Account Talk

    thank you 🙌 and enjoy your new turn in life

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  5. #7227

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    Default Re: coolhand's Account Talk

    It was another up/down day; this time starting out bullish and then sliding lower as the trading day wore on. Not much movement in price overall.

    Breadth remains bullish, but is tracking sideways (like price). The OEX and CBOE remain bullish. NAAIM came in relatively unchanged, which keeps them in the bullish camp.

    The bulls remain in control and sentiment certainly supports that. I think the price action is bullish as well as I suspect it may be slowly coiling for another push to the upside. Let's hope that is the case.


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  7. #7228

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    Default Re: coolhand's Account Talk

    The stock market ended the week with moderate losses, but maintained an overall bullish disposition in the intermediate term (no serious technical damage).

    Breadth continues to track sideways. I see it as neutral to modesty bullish as a result. I note that TRINQ is bullish for Monday.

    Sentiment shows that the OEX is bullish for Monday, while the CBOE is neutral. TSP Talk saw a marked decrease in bulls and is now neutral. NAAIM is moderately bullish.

    The indicators appear to point to a bounce on Monday. The way the market is hanging in there leads me to anticipate an eventual upside breakout. That could be weeks away, but it may be sooner.

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  9. #7229

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    Default Re: coolhand's Account Talk

    The market sure seems to be finding a way to end relatively flat of late. Sure, the short term has been down, but there is still no serious technical damage.

    Breadth was neutral and actually ticked up a bit today. It might be modestly bullish. It sure isn't bearish.

    The options are showing the OEX modestly bearish, while the CBOE is neutral.

    There isn't much to go on in the very short term. The battle continues. The bulls are still in control even as the market has dipped.

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  11. #7230

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    Default Re: coolhand's Account Talk

    Well, things are getting interesting (disturbing?) in the political sphere and that was one of the reasons (money pumping is another) for today's shot lower. I suspect we might want to buckle up as there isn't a day that goes by anymore where signs of battle are not seen. I won't elaborate on that point; most of you have heard me mention my longer term concerns before (check out X22 Report).

    Setting that aside, both the S&P 500 and the DWCPF fell, with the S&P 500 remaining above its key 50 dma, while the DWCPF closed under it.

    Breadth fell too, but it still remains in a bullish stance.

    I also note that crypto got slammed today, while precious metal rose.

    Let's see what happens on Wednesday. The indicators are mostly neutral right now, though the short term is bearish.

    The options look largely neutral.

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  13. #7231

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    Default Re: coolhand's Account Talk

    After spiking lower on Tuesday, stocks rebounded smartly, though did not retrace all losses. The rebound did push price on the DWCPF back over its 50 dma, which is at least somewhat encouraging for the bulls; especially given that the S&P 500 has remained above above it. In other words, the S&P could be viewed as a kind of anchor for stocks overall given small caps tend to be more volatile.

    So while some damage was done on Tuesday, the market did recover to some extent. Also, breadth has remained bullish throughout. That's a big plus for the bulls.

    This evening, the options are looking neutral once more. NAAIM reports tomorrow.

    I still see no clear path for direction in the short term. Headlines are a contributing factor right now, but I remain bullish beyond the shorter term.

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  15. #7232

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    Default Re: coolhand's Account Talk

    The slug fest continued today between the bulls and bears as price reversed once more. Price on the DWCPF closed just under its 50 dma, while the S&P remains above it.

    Overall, there wasn't much change from a technical perspective. Breadth remains bullish, but is back to moving sideways again.

    The options look a bit bullish this evening. NAAIM got less bullish and is now back to a neutral stance. They are wary. That tells me that the action we've been getting of late is likely to continue. I'm modestly bullish for Friday.

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  17. #7233

    Default Re: coolhand's Account Talk

    🐌They are wary and I am weary… Heading over to X22. Thanks again.

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  19. #7234

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    Default Re: coolhand's Account Talk

    Weakness continued on Friday, which helped the S&P 500 and DWCPF finish with losses on the week. Price on the S&P is still above its 50 dma, but it's getting closer to that support level. Price on the DWCPF fell well under its 50 dma and is now not far from testing its 200 dma.

    The market has fallen enough now to at least look for some degree of a rebound.

    Breadth remains bullish, believe it or not. I note that TRINQ closed high on Friday, which suggests the NAZ may see a bounce. If so, it may drag the rest of the market with it.

    The options are neutral. TSP is more bullish, but neutral still. NAAIM is neutral.

    So, I'm looking for some measure of a bounce on the Monday. Maybe the S&P tests its 50 dma and reverses. The DWCPF may test its 200 dma at the same time. That's not a prediction; just a possibility. Overall, I am neutral for the week.

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  21. #7235

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    Default Re: coolhand's Account Talk

    This indicators are not telling me a whole lot this evening. We got the bounce I expected for Monday, but it was not enough to pull the DWCPF back over the 50 dma. That's not a major problem as long as price on the S&P can remain above its 50 dma.

    Breadth remains bullish. The options remain neutral. All other surveys I follow are also neutral.

    I have no hints what may happen on Tuesday, though futures are up. We may get some upside follow through. I remain neutral.

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  23. #7236

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    Default Re: coolhand's Account Talk

    Yesterday, I said I didn't have a lot to go on as to what to expect on Tuesday, but I thought we might get some upside follow through. We did get it, but it lasted less than an hour. And the bottom fell out as price on the S&P closed under its 50 dma and the DWCPF below its 200 dma. The lows have not been tested, but they might. The market has been trending lower and now technical damage is more in evidence. It may be test that will be short lived, but I am not comfortable with that possibility given NAAIM's neutral stance. I think the bears may continue to press their advantage; especially since breadth flipped negative.

    Now, as the indicators get more negative a reversal does become more likely, but it's hardly something we can use with precision.

    The options are leaning a bit bearish this evening. I am changing my stance from neutral to modestly bearish. I have a feeling the bulls may get punished a bit more before at least a short term bottom gets put in.


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SPY (C Fund) (delayed)
coolhand's Account Talk
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