Posts Tagged ‘indexes’

Time To Short The Indexes?

Updates on the index charts and Google, courtesy of David Grandey. – Ilene

Time To Short The Indexes?

All About Trends

We wanted to take a few minutes tonight to fill you in on a little index action that we are seeing develop.

First let’s take a look at the short-term index charts.







With each of the charts, you can clearly see they all have that same look:

1. All are pushing resistance aside from post-Fed knee jerk reaction.

2. All have that abc down of A (Oct. Lows)

3. All have that ABC up (thru today) of a Potential B

4. All have a PINK Pullback Off Lows line which is the opposite of a bullish Pullback Off Highs pattern.

A POH is a Pullback Off Highs LONG Side set up and a POL is a Pullback Off Lows SHORT Side set up.

Don’t get Elliott Wave? ABC’s? No matter, all you need to know is support-resistance and those Pink Lines. At this moment in time any break of the pink line sets up a short sell in the indexes with a break into new highs being a stop. For us? We will continue to focus upon the issues that have broken uptrends and are backtesting those trendline breaks.

NOTE: Do yourself a favor and get used to what Pullback Off Low patterns are because when this bear market rally truely ends it will be the only game in town. You can find out more about this pattern here.

One additional note about the above charts. As you can see from today’s peak you have the makings of a nano pullback off highs pattern. This means they could gap up up tommorrow to test the highs of today or a retest of the post-Fed emotional highs. If it happens then don’t be suprised. It would also be a double top at that point too which is the first sign of a change in trend from up to down.

In Summary: Those pink lines are all you need to know. A solid break sets up a potential C wave down to the Oct lows if not farther. BUT we’ll take it one step at a time.

While on the subject of double…
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Dave’s Daily

MARKET COMMENT

Dave Fry’s ETF Digest, May 11, 2009

This image again?!? Yeah, well it’s another one of those Mondays. We’ve had a bunch of them over the past two months. Thereafter the pattern has been for dip buyers to appear making everything well again. One of these days (this day?) the down mood will stick. Until then we’ll just have to see how things work out.

If you’re bullish the light volume today might encourage you. It sure was a tale of two markets with the NYSE being decidedly weak while the NASDAQ was stable.

I could do more today but given the light volume I’ll defer for now.

Portfolio equity levels have been moving in big chunks in both directions. This makes folks nervous and may indicate a top of some duration developing.

The Fryguy has landed in Baltimore. We’re fortunate to have rented a great place in the woods of Mt. Washington. It’s really quite a sanctuary and is perfect for the challenges ahead. Our son is driving across country from California and is currently pushing through Tennessee while our daughter is down the road in DC. Francie is awaiting a date for surgery as coordinating medical staff schedules is a challenge.

So many people have written and sent their good wishes to our family and Francie in particular. Many wish to follow along with this but this isn’t the purpose of these postings. She has created one for herself and it’s good. If you wish to follow: http://fflanikai.wordpress.com/.

Now let’s see if there’s a Turnaround Tuesday in Mr. Market’s quiver.

Disclaimer: Among other issues the ETF Digest maintains positions in: SPY, VTI, MDY, IWM, QQQQ, XLI, XLB, XLY, IYR, IEF, TLT, UDN, DBC, USL, UNG, XLE, DBA, MOO, XME, EFA, EEM, ILF, EWJ, EWZ, IFN and FXI.

The charts and comments are only the author’s view of market activity and aren’t recommendations to buy or sell any security. Market sectors and related ETFs are selected based on his opinion as to their importance in providing the viewer a comprehensive summary of market conditions for the featured period. Chart annotations aren’t predictive of any future market action rather they only demonstrate the author’s opinion as to a range of possibilities going forward. More detailed information, including actionable alerts, are available to subscribers at www.etfdigest.com.
 


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Phil's Favorites

Mass protests protect Hong Kong's legal autonomy from China - for now

 

Picture via Pixabay

Mass protests protect Hong Kong's legal autonomy from China – for now

Courtesy of Kelly Chernin, Appalachian State University

Protesters in Hong Kong have achieved a major victory in their fight to protect their legal system from Chinese interference.

On June 15, in response to massive popular resistance, Chief Executive Carrie Lam announced she would suspend a vote on a proposed new law that would allow China to extradite suspects accused of certain c...



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Zero Hedge

The Rise Of Facial Recognition Should Scare Us All

Courtesy of ZeroHedge. View original post here.

Authored by Derrick Broze via The Mind Unleashed blog,

It seems the sleeping masses are finally waking to the privacy dangers posed by the rise of facial recognition technology.

In the last ten years, our world has been completely transformed thanks to the exponential growth of digital technology. Technological advances with computer processors and the internet have q...



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Insider Scoop

5 Stocks Moving In Monday's After-Hours Session

Courtesy of Benzinga.

Gainers
  • PhaseBio Pharmaceuticals Inc (NASDAQ: PHAS) shares are up 18% after reporting preliminary results from a Phase 2a clinical trial of PB2452 for reversal of antiplatelet activity.
  • Lannett Company, Inc. (NYSE: LCI) shares are up 4% after reporting a restructuring plan related to Cody Labs. The company says it sees incurring around $5 million in costs to implement Cody API Restructuring Plan.
  • EQT Corporation (NYSE: EQT) shares spiked up 3% after announcing it sees second-quar...


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Biotech

Consumer genetic testing customers stretch their DNA data further with third-party interpretation websites

Reminder: Pharmboy is available to chat with Members, comments are found below each post.

 

Consumer genetic testing customers stretch their DNA data further with third-party interpretation websites

If you’ve got the raw data, why not mine it for more info? Sergey Nivens/Shutterstock.com

Courtesy of Sarah Catherine Nelson, University of Washington

Back in 2016, Helen (a pseudonym) took three different direct-to-consumer (DTC) genetic tests: AncestryDNA, 23andMe and FamilyTreeDNA. She saw genetic testing as a way...



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Kimble Charting Solutions

Gold Bugs Index Attempting 8-Year Breakout, Says Joe Friday

Courtesy of Chris Kimble.

Are Gold Bugs fans about to receive positive news they haven’t had in years? Possible!

This chart looks at the Gold Bugs Index (HUI) on a weekly basis over a couple of decades. The index has spent the majority of the past 20-year inside of rising channel (1).

The index hit the top of the channel in 2011, where it peaked and started creating a series of lower highs for the past 8-years, which has formed line (2).

The index is now kissing the underside of falling resistance and the underside the 2016/2017 lows at (3).

Joe Friday Just The Fa...



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Chart School

Silver Review

Courtesy of Read the Ticker.

The folks in the federal reserve will debase the US dollar currency to an extreme degree silver will finally lift off the floor.. 

Note: Readers should re watch the silver back screen news video, here.

The following video looks at price action and Wyckoff logic.

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Chart in video

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If gold moves, silver wi...

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Digital Currencies

Cryptos Are Crashing As Asia Opens, Bitcoin Back Below $8k

Courtesy of ZeroHedge. View original post here.

Having survived the day's bloodbath in US tech stocks, cryptos are crashing in the early Asian session, apparently playing catch-down to the day's de-risking.

While no catalyst is immediately evident, there are some reports noting 13 large global banks are preparing to launch digital versions of major global currencies next year, though we suspect this drop was more algorithmic that fundamental-driven.

...



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ValueWalk

More Examples Of "Typical Tesla "wise-guy scamminess"

By Jacob Wolinsky. Originally published at ValueWalk.

Stanphyl Capital’s letter to investors for the month of March 2019.

rawpixel / Pixabay

Friends and Fellow Investors:

For March 2019 the fund was up approximately 5.5% net of all fees and expenses. By way of comparison, the S&P 500 was up approximately 1.9% while the Russell 2000 was down approximately 2.1%. Year-to-date 2019 the fund is up approximately 12.8% while the S&P 500 is up approximately 13.6% and the ...



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Members' Corner

Despacito - How to Make Money the Old-Fashioned Way - SLOWLY!

Are you ready to retire?  

For most people, the purpose of investing is to build up enough wealth to allow you to retire.  In general, that's usually enough money to reliably generate a year's worth of your average income, each year into your retirement so that that, plus you Social Security, should be enough to pay your bills without having to draw down on your principle.

Unfortunately, as the last decade has shown us, we can't count on bonds to pay us more than 3% and the average return from the stock market over the past 20 years has been erratic - to say the least - with 4 negative years (2000, 2001, 2002 and 2008) and 14 positives, though mostly in the 10% range on the positives.  A string of losses like we had from 2000-02 could easily wipe out a decades worth of gains.

Still, the stock market has been better over the last 10 (7%) an...



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Mapping The Market

It's Not Capitalism, it's Crony Capitalism

A good start from :

It's Not Capitalism, it's Crony Capitalism

Excerpt:

The threat to America is this: we have abandoned our core philosophy. Our first principle of this nation as a meritocracy, a free-market economy, where competition drives economic decision-making. In its place, we have allowed a malignancy to fester, a virulent pus-filled bastardized form of economics so corrosive in nature, so dangerously pestilent, that it presents an extinction-level threat to America – both the actual nation and the “idea” of America.

This all-encompassing mutant corruption saps men’s souls, crushes opportunities, and destroys economic mobility. Its a Smash & Grab system of ill-gotten re...



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OpTrader

Swing trading portfolio - week of September 11th, 2017

Reminder: OpTrader is available to chat with Members, comments are found below each post.

 

This post is for all our live virtual trade ideas and daily comments. Please click on "comments" below to follow our live discussion. All of our current  trades are listed in the spreadsheet below, with entry price (1/2 in and All in), and exit prices (1/3 out, 2/3 out, and All out).

We also indicate our stop, which is most of the time the "5 day moving average". All trades, unless indicated, are front-month ATM options. 

Please feel free to participate in the discussion and ask any questions you might have about this virtual portfolio, by clicking on the "comments" link right below.

To learn more about the swing trading virtual portfolio (strategy, performance, FAQ, etc.), please click here ...



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Promotions

Free eBook - "My Top Strategies for 2017"

 

 

Here's a free ebook for you to check out! 

Phil has a chapter in a newly-released eBook that we think you’ll enjoy.

In My Top Strategies for 2017, Phil's chapter is Secret Santa’s Inflation Hedges for 2017.

This chapter isn’t about risk or leverage. Phil present a few smart, practical ideas you can use as a hedge against inflation as well as hedging strategies designed to assist you in staying ahead of the markets.

Some other great content in this free eBook includes:

 

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About Phil:

Philip R. Davis is a founder Phil's Stock World, a stock and options trading site that teaches the art of options trading to newcomers and devises advanced strategies for expert traders...

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About Ilene:

Ilene is editor and affiliate program coordinator for PSW. She manages the site market shadows, archives, more. Contact Ilene to learn about our affiliate and content sharing programs.

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