BQ do you have a plan for exiting equities? Based on your charts?
EJJ
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BQ do you have a plan for exiting equities? Based on your charts?
EJJ
I was thinking of locking in gains but things are looking a little more bullish than I was expecting. I did not think we would pop over the 200 EMA without testing it from below. We are ahead of where I thought we would be. Look at the bottom of the VIX chart. I expected a bounce back up in the VIX from the 200 EMA. The fear zone as I mentioned before seams to be a no fear zone with the resent recovery from the panic zone. I don't know what is causing this but it seams the market is 60/40 expecting short term good news over the chance of bad news. Plus not trying to be political here, the Trump administration using a press secretary is ridding us of market reactions to Trump one way or the other. So I'm 55/45 bullish while watching the VIX. The coin is in the air but I'm not calling it. Tomorrow is the last trading day and I will try to give a heads up if I get any Spidey sense.:cool:
Look at that. I say something and all of a sudden the markets want to defy me.
Damage control. Well we had news from President on China and a news drop on the S Fund. I think it was an over reaction myself but it did get us back more to the level for the time frame to P 1 I was expecting. Worse case is a 200 EMA test. I don't think it damaged things that much. Also it did pop above the 200 EMA in the VIX but only set another lower high confirming the top of the orange channel again. Damage may continue tomorrow as the policy is explained. If not we are nearer to what level I was expecting to be at before hand::cheesy:
Tomorrow may be decision time. Too bad as always the news reaction will be after the IFT deadline.
Being nearer to the center of the Longterm Channel than the bottom, I am staying 100 S Fund. Not seeing a big follow through today as support held and the 200 EMA right below has me neutral to bullish. May the VIX get back into the channel. Nothing I can do before the press conference as it starts at the deadline.:(
Was going to say "all is good" but with the VIX finish "all is better".:smile:
Redraw for June::smile:
Doing sideways consolidation between the 200EMA and resistance::cool:
Seeing a little more volatility today. Maybe because floor trading is opening up again. Right now we're testing resistance from above as support and are still ahead of schedule toward P 1::smile:
BQ...any spidey sense today. Still 55/45 to stay above 200 day? Thanks for your daily efforts...you may be surprised by how many viewers/followers you have
EJJ