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08/10/2019 Weekend Update

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Cobra
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08/10/2019 Weekend Update

Post by Cobra »

Down 2 weeks in a row means 63% chances up the next week.
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BullBear52x
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Joined: Tue Feb 22, 2011 3:47 pm

Re: 08/10/2019 Weekend Update

Post by BullBear52x »

From It is what it is department" Fearful market, Bulls are still in the woods. shorter term momentum were improving but not good enough. key internals to recognize are $VIX above 16, Negative NYMO, and TRIN >1. These are the thing that keeping the bulls a sleepless night.
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Friday action was disappointed at the closed. MACD, B% and RSI are clear, there are improvement but not good enough, bulls were stalled. sideways to down at best under center line. Last May comes to mind, except Volume profile shows value along this level, down side is limited also.
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What bulls need to prove in a coming week? a push higher above last Thursday' HOD will get the buying spree to continue, a trade lower will intensify the selling. we will know this before Monday's open if buying or selling to continue. clear line in the sand for Monday, Bulls got momentum but only price pays, the Hourly sell must fail or bears will be laughing all the way to bank this week. keep it simple. Peace!
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My comments are for entertainment/educational purpose only. NOT a trade advice.
merryme
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Re: 08/10/2019 Weekend Update

Post by merryme »

Long term looks like down to me.
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Sharing research and ideas only, this is not trading advice.
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Al_Dente
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Joined: Thu Jul 21, 2011 2:29 pm

Re: 08/10/2019 Weekend Update

Post by Al_Dente »

SPY plus a few groups historically considered LEADERS:
Everyone here just bounced back up to the declining 20dma, and failed near there.
I’d like to see a more robust test of the June low (at least a second leg down), sooner rather than later.
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Disclaimer: I am not an investment advisor. This is just my opinion NOT investment advice.
Trades with cats
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Joined: Sat Oct 11, 2014 4:40 pm

Re: 08/10/2019 Weekend Update

Post by Trades with cats »

Aug 11 2019.png
In case you missed this on twitter. As per Pasta Boss request for a better test of the lows Coolbiz is right there with you."SPX has higher probability now to have another leg down below 2822.12 from here OR slightly higher. Ongoing correction in still the Bull Trend until 2728.81 is taken out. Wave Fractals are nicely sub-dividing."

He is far from the only public voice calling this a tepid bounce at best. Nice by the dip chart from Bank of America re-posted at the evil site this weekend. Of course the whole thing depends on what the PBoC does in a couple of hours as well as what the Red Army does with Hong Kong and let us not forget the twitterer in chief.
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Al_Dente
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Re: 08/10/2019 Weekend Update

Post by Al_Dente »

COT as of August 6, 2019 [per Hedgopia]
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Disclaimer: I am not an investment advisor. This is just my opinion NOT investment advice.
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