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The pullback overnight probably will be bought but I don't believe a big up today, let's see.
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Jaysus. Just when we thought it was safe to go back in the water. Whoosh. Two scalps done. Gonna get a coffee and catch my breath. As they say: "Be careful out there."
Charts posted are not recommendations. They are just a sharing of information.
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from twitter- next week is options expiration. 15 of the last 20 January op ex weeks were down weeks for the market. So did somebody want to order a plate of pullback?
Tom got into it on twitter with Seth (the guy who has made a bundle shorting the VIX) and made it clear, as is in the article, this is not a signal, it is just a condition that makes a signal possible.
I would add there are a lot of technical indicators and conditions out there saying the same thing, market needs a breather. Earnings are not going to be good. In three months the fed pump is supposed to start showing up in basic economic numbers and we are supposed to see earnings start to catch up to multiples. We will see if that scenario plays out. I am concerned that the FOMC members see the need to make lots of positive comments and forecasts.