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BullBear52x wrote:overnight W should help the bulls out a little today
got lots of P bars up to spy 280 level , but this down move aint over, roller coaster time has begun!
SPX 2833 = 38.2% fib
it is likely, today will tell if intraday rebound holds.
looks good to me , however, also watching the 279.50 spy level as a possible risk zone..still dont see great jump in signals confirming this move up, yet..bulls recently suckered on short retraces
too many looking for the big bounce soon, i really like the 2700 level sp for a strong bounce. let's see where she wants to turn.
BullBear52x wrote:overnight W should help the bulls out a little today
got lots of P bars up to spy 280 level , but this down move aint over, roller coaster time has begun!
SPX 2833 = 38.2% fib
it is likely, today will tell if intraday rebound holds.
looks good to me , however, also watching the 279.50 spy level as a possible risk zone..still dont see great jump in signals confirming this move up, yet..bulls recently suckered on short retraces
too many looking for the big bounce soon, i really like the 2700 level sp for a strong bounce. let's see where she wants to turn.
reasoning, follow smallies lead, they only bounced on daily 200 for a day or 2 before plowing thru it with gusto. sp 2766 daily/2442 weekly 200 ma levels . piercing and then reversing to save the weekly candle is my preferred scenario. 2700ish level support would do trick, if there is one to be played...
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BullBear52x wrote:I am still waiting for counter trend setup, nothing yet.
not happening, yet... all about the 10 year auction today, right now looking very weak, still early, but terrible auction would give us a stomach churner imo that could set up the bounce. imho
Plenty of jitterrs around and early profit-taking. NYMO hit -88.10 at the opening drop, now at -79 and slightly positive on the day. SPX still in red-mode.
What happens next will be interesting. Have we seen an ending diagonal to conclude the bull market, or a leading diagonal for minor wave 1 of intermediate wave (5) of primary wave [5] of the bull market.
this steep decline is consistent with both counts
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Last edited by alphahorn on Thu Oct 11, 2018 10:40 am, edited 1 time in total.
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testing morning low, key time. decisive breakdown then it's downtrend day probably with middle day reversal up, sharply rebound here then it's range day.
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