SPX 1020-1050...that's about right before Jackson Hole.
deeko wrote:I see the support at 1050, but I think the market will overshoot to the downside. we'll see what happens, but I wouldn't rule out 1020 before Jackson Hole. If I'm wrong, then we're squabbling over pennies when we're making pounds.
no comments, the show is still on. bulls did much better this time though.
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varaamo wrote:Strike, would you mind sharing your indicator. Or is it proprietary?
StrikePrice wrote:This market is all psychology right now. Panic sellers dump in the morning. Short sellers cover after that. The big round 1150 that caused the panic yesterday when it failed and drove the /ES to 1080 marked the line for other sellers to leave and get into cash.
The Fed Minutes aren't likely to spur a big rally, obviously just an opinion, but I think 1150-1160 area is too strong a resistance area now and the lows in the Futures and likely lower will be seen this month before things start to settle down.
I think lower because my bottom signal that has never failed me needs more time to trigger. It's currently sitting at 19 and needs to get to < 10 to say we're there. It only measures Closing Price and Time and it's the Time factor that's not there yet. The Price factor has been at 0 since 8/2.
I def share when the signal hits. It has rarely picked the exact day but I think it'll be helpful in this type of market.
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sometimes only looking at things from a ta standpoint will leave u high and dry, over the next days and weeks people are going to wake up to the fact that dividend stocks make much more sense than gov fixed income. ultra low intrest rates will never be bad for equity, economics 101. at the decision i shorted vix and bought fas calls....
hiram wrote:sometimes only looking at things from a ta standpoint will leave u high and dry, over the next days and weeks people are going to wake up to the fact that dividend stocks make much more sense than gov fixed income. ultra low intrest rates will never be bad for equity, economics 101. at the decision i shorted vix and bought fas calls....
hiram
you're not the only one. as soon as SPX div yields were 2.25 with 10yr @ 2.05, someone came in and did the switch big.