Trades with cats wrote:te-fern, my world is now in balance as Coolbizone and Pretzel Charts are back in agreement on the Elliot crystal ball forecast. Headed for a nasty nested 3 wave down (more or less matching up with B of A Merrill) or we need to get up into those 27 somethings to change the outlook.
I agree! Both of those guys know what they are doing.....
SPX has visited 2630-ish 5-6 times, which is why i called it a "magnet"
ELSEWHERE:
As if we needed more stress/catalysts, now we have to worry again about a shutdown
(media is calling it “sparring” and “squabbling” and “bickering”…. seemed more like “steamrolling” to me)
Disclaimer: I am not an investment advisor. This is just my opinion NOT investment advice.
11:32 AM 12/11/2018
Sorry to MIA
I was up on time and updating - discouraged by the +25 or so in o/n, then sat in my chair (my workstation is standing) and fell asleep - only to wake hours later.
BTT (By the Time) I had done my updating and made some onion garlic rinse for my sore gums, the market had run away to the downside. If we assume the govt buy program of yest is done and they won't invoke another (today)then the HOD is in place and from there I made my estimates.
It's hard to say how far it will fall. Gut says not too far- with the vicoius conuter trend "hail- mary-and-save-the-day" govt buy prg of yesterday fresh in the minds of late-coming-bears to yesterday's picnic.
Things are bearish- but it doesn't have to be breakdown today (or in any one day). The govt has too many trillions invested in propping up their Ponzi scheme to defraud savers and retirees for BigBanksters to let it implode without tossing money at the Casino.
BUT IT WILL FAIL and Fall HARD when it does.
Now, it more a game of guessing when the manipulation programs come in than anything else.
Generally I am looking for bounces to sell on.
H/L est: 2675.50, 2624.00
NTA
Last edited by daytradingES on Tue Dec 11, 2018 1:50 pm, edited 2 times in total.
Educational only and not trading advice (EO&NTA) Good trading to all
Don't forget on the other side of the pond they may or may not have enough letters to start a no confidence vote. Nothing but political chaos as far as the eye can see.
Al_Dente wrote:Google CEO testifies on Capitol Hill today
Congressmen opening statements now
1.5 billion searches per day
Congressmen accuse GOOG search of anti-conservative bias
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pathogambler wrote:Thank you Cobra for granting me access to the forum and Hello World.
I like the action so far. I'm holding my position triggered based on Cobra's analysis over the weekend. Again, couldn't thank you enough.
Welcome new person
Disclaimer: I am not an investment advisor. This is just my opinion NOT investment advice.
I am not trading but seeing something worth mention. ever heard of Wyckoff theory? see low volume bear trap, we are in C phase of it now I think. never thought they will pull it on the main index, individual stock I see it all the time. well,looks like a Wyckoff accumulation to me. can't wait to trade next year. Peace!
SPY here
Wyckoff accumulation.jpg (7.37 KiB) Viewed 3928 times
My comments are for entertainment/educational purpose only. NOT a trade advice.
pathogambler wrote:Thank you Cobra for granting me access to the forum and Hello World.
I like the action so far. I'm holding my position triggered based on Cobra's analysis over the weekend. Again, couldn't thank you enough.
pathogambler wrote:I don't have an exit strategy yet. Any advice would be greatly appreciated. Perhaps Feb low?
Since you are swing trading listen to Cobra. Many of us here are day trading. 45 minutes is a long term position for me! Maybe you will learn some things from us short term traders but remember horses for courses.
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