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Thread: coolhand's Account Talk

  1. #7093

    Default Re: coolhand's Account Talk

    Thanks Tom I got your reply but no one else posted today.

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  3. #7094

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    Default Re: coolhand's Account Talk

    So, Monday started out the week rather mixed as the S&P 500 eked out a gain, while the DWCPF fell moderately.

    S&P 500.png
    DWCPF.png

    Resistance has yet to be broken by the DWCPF, but I still expect it to do so eventually.

    The rest of the technical indicators remained largely unchanged (and bullish). The options are neutral.

    No change in my outlook. Things remain bullish.

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  5. #7095

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    Default Re: coolhand's Account Talk

    The sellers overpowered the buyers today, but not enough to do any technical damage.

    S&P 500.png
    DWCPF.png

    I'm still looking for price to get past overhead resistance on the DWCPF.

    Breadth dipped, but remains bullish. My intermediate term system remains positive. I note that the TRIN and TRINQ are leaning bullish for Wednesday.

    The options are modestly bearish.

    Not a lot to go on for Wednesday, so we may be in for more up/down action.

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  7. #7096

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    Default Re: coolhand's Account Talk

    Well, the market is going through a weak spell so far this week. Still nothing dramatic, but frustrating for the bulls nonetheless.

    S&P 500.png
    DWCPF.png

    No big changes to the charts.

    Cumulative breadth remains bullish, but is weakening a bit. My intermediate term system remains positive.

    The OEX is bearish for Thursday, while the CBOE is neutral. NAAIM reports in the morning.

    My outlook remains pretty much the same. Bullish, once we get this selling out of the way.

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  9. #7097

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    Default Re: coolhand's Account Talk

    The bulls got the last say in Thursday's action as the majors recouped some losses.

    S&P 500.png
    DWCPF.png

    For the most part, there still isn't much change to the charts. Is the bounce the start of another run to the top? Maybe, but sentiment suggests the bears may not be done.

    Breadth remains bullish as does my intermediate term system.

    The Options are now neutral. NAAIM did not change much, but I noticed that some of the bears among them put on some shorts. The bulls remain steadfastly bullish and they are the majority. This tells me there is likely to be more back and forth action for a few days or so, but eventually the market resolves higher.

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  11. #7098

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    Default Re: coolhand's Account Talk

    It appeared on Friday that the bulls were on their way to retracing even more of recent market losses, but they were not able to hold on to early gains as the afternoon session wore on. Friday ended up in the red as did the week as the bears tempered bullish expectations.

    S&P 500.png
    DWCPF.png

    The 2 charts remain bullish longer term, but the shorter term is seeing momentum ebbing lower.

    My intermediate term system is now teetering on flipping negative. Cumulative breadth does remain positive, but is tracking sideways.

    The OEX is leaning modestly bearish for Monday, while the CBOE is neutral. NAAIM is bullish overall, but the latest reading suggests more back and forth action, which we are getting. TSP Talk saw a big decline in bulls, which may be bullish in the short term.

    I see the latest bout of weakness as part of normal market action. The longer term trend remains bullish and I continue to expect more upside once the weakness abates. The new week looks neutral going into Monday. We'll see how the first 2 days go. Maybe the bulls can turn it around by mid-week.

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  13. #7099

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    Default Re: coolhand's Account Talk

    Quote Originally Posted by coolhand View Post
    It appeared on Friday that the bulls were on their way to retracing even more of recent market losses, but they were not able to hold on to early gains as the afternoon session wore on. Friday ended up in the red as did the week as the bears tempered bullish expectations.

    S&P 500.png
    DWCPF.png

    The 2 charts remain bullish longer term, but the shorter term is seeing momentum ebbing lower.

    My intermediate term system is now teetering on flipping negative. Cumulative breadth does remain positive, but is tracking sideways.

    The OEX is leaning modestly bearish for Monday, while the CBOE is neutral. NAAIM is bullish overall, but the latest reading suggests more back and forth action, which we are getting. TSP Talk saw a big decline in bulls, which may be bullish in the short term.

    I see the latest bout of weakness as part of normal market action. The longer term trend remains bullish and I continue to expect more upside once the weakness abates. The new week looks neutral going into Monday. We'll see how the first 2 days go. Maybe the bulls can turn it around by mid-week.
    Anyone else see a bull flag in these charts????
    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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  15. #7100

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    Default Re: coolhand's Account Talk

    The market largely picked up where it left off on Friday as the bulls and bears took turns moving price up and down. At the end of the day, price was not far from where it began at the opening bell; though the S&P did manage a modest gain.

    S&P 500.png
    DWCPF.png

    No change with the charts.

    No change with my indicators either. The short term has been on the negative side, but technical damage has been light. This is consistent with the NAAIM reading I spoke about in my previous post. Longer term is still bullish.

    I need to let you folks know sooner rather than later that I am not renewing my subscription to Stockcharts (I don't trade anymore). It expires sometime in August. I will also be leaving Federal Service later this year. At some point, I anticipate going largely silent on the board. Exactly when, I am not sure, but retirement is going to have me focused on other things. We'll see how it goes.

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  17. #7101

    Default Re: coolhand's Account Talk

    I am very sad to hear this CH! You have been a rock and I read your posts every day. But I am happy for you ...I hope you have a great time when you retire!
    But it's still a little ways off, so will continue to enjoy your reading of the market, and learn from your posts.
    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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  19. #7102

    Default Re: coolhand's Account Talk

    Quote Originally Posted by coolhand View Post
    I need to let you folks know sooner rather than later that I am not renewing my subscription to Stockcharts (I don't trade anymore). It expires sometime in August. I will also be leaving Federal Service later this year. At some point, I anticipate going largely silent on the board. Exactly when, I am not sure, but retirement is going to have me focused on other things. We'll see how it goes.
    I don't accept your resignation.

    Best of luck and thanks so much for the years of input you provided.
    Tom
    Market Commentary | My Blog | TSP Talk Plus | |

    I am not a Registered Investment Advisor and this is not investment advice. Please do your own due diligence.

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  21. #7103

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    Default Re: coolhand's Account Talk

    Hope you don't go too silent. It's a real pleasure reading your posts.

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  23. #7104

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    Default Re: coolhand's Account Talk

    Coolhand,

    It saddens me to know that soon you will be going largely silent on the board. It is a rare gift that you are willing to share your opinions on the market for the betterment of all who care to read your posts and ask nothing in return. Your posts for me are standard reading each day and have proven to be a valuable tool in my decisions of when to enter and exit the market. As they say, "All good things must come to an end". You will be missed very much. But on a happy note, congratulations on your pending retirement from Federal Service. I wish you all the joy, peace and serenity retirement brings.

    Thank you for all you have done and God Bless!
    "the biggest mistake that traders make is to let these short-term trades turn into longer-term investments when they don’t work." RevShark

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S&P500 (C Fund) (delayed)
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