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Index Trading, xjo, dow, dax, ftse
early birds
post Posted: Today, 08:35 AM
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only EU market looked well last night's session, i guess a lot short term money flock into that market.
US market ----not too bad it rallied up from the low. closed well!!

asx200 might have a test at 6500ish as round number for a lot of options, warrents to be issued there, also it is a support.

keep eye on it for me , still sitting on fence!!



 
early birds
post Posted: Yesterday, 05:52 PM
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In Reply To: nipper's post @ Yesterday, 03:23 PM

as i pointed out this morning before the bell "asx200 future is up as well. i won't chase it higher from here [just me]!! support is 6600 for today!!"

i saw the move when asx200 hit through 6600 support. short term trader start to selling everything, amazing, it is last date of the month.

currently i see other major market cooling off from overbought condition , how low it can drop is unsure story atm
just too much headline news all over the places!!




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nipper
post Posted: Yesterday, 03:23 PM
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In Reply To: early birds's post @ Yesterday, 08:03 AM

twas not to be, eb .
Sell off at closing time dropped another 30pt loss on what was a negative day from 11am on ...... down 83pts in the end. (Amateurs open, Professionals close)

All the pundits were hyping the story for a Miracle November. (Vaccine, Biden, cash sloshing around) but it was not to be.






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"Every long-term security is nothing more than a claim on some expected future stream of cash that will be delivered into the hands of investors over time. For a given stream of expected future cash payments, the higher the price investors pay today for that stream of cash, the lower the long-term return they will achieve on their investment over time." - Dr John Hussman

"If I had even the slightest grasp upon my own faculties, I would not make essays, I would make decisions." ― Michel de Montaigne
 
early birds
post Posted: Yesterday, 08:03 AM
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no major event happen since thanks giving till now...

so we see SPX future popped up, seems unstoppable to the up side, even most of indicators at overbought line.

asx200 future is up as well. i won't chase it higher from here [just me]!! support is 6600 for today!!



 
early birds
post Posted: Nov 27 2020, 08:35 AM
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asx200 come off the boil yesterday
looks weak as well at opening. as US market closed for holiday.

6600should be hold if not, then look down to 6550---6560ish for up side support!!
it is Friday, and US market closed for holiday----- suppose we will have a lack lackluster day today!!



 
early birds
post Posted: Nov 26 2020, 08:39 AM
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happy thanks giving!! if someone living in USA.

as US market in holiday ,
asx200 might have thinner volume erratic move if something happening during two session.

otherwise asx200 might grind higher from here!!

=============

The Bottom Line:
1
The recipe has been for the SPX to leverage periods of consolidation, breakout and repeat. That very simple, yet powerful, phenomenon has just taken place again over the last two weeks, with yesterday's action providing the latest pattern breakout. The target is up near 3,745.

2
During an uptrend like this, timing the next pullback is challenging. That being said, we should still address the indicators when the pendulum swings from one extreme to the other.

3
In particular, the % of S&P 500 stocks with overbought 14-Day RSI readings and the % trading above their 20 Day Moving Averages are both near 2020 extremes. The CNN Money Fear & Greed Index is flashing EXTREME Greed, as well. It's at a level of 88, the highest since early February.

4
The price action remains strong, bullish patterns continue to work, breadth is robust and seasonality is supportive. That's all undoubtedly bullish, but it's also produced these stretched indicator measurements, which puts some pressure on the market's short-term risk-reward profile.
===================

DYOR as always !

 

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early birds
post Posted: Nov 25 2020, 09:40 AM
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In Reply To: nipper's post @ Nov 25 2020, 08:46 AM

good job nipper graduated.gif

not sure how long this bullishness can last??

it's like screaming hot atm..



 
nipper
post Posted: Nov 25 2020, 08:46 AM
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In Reply To: early birds's post @ Nov 25 2020, 08:07 AM

Not my style to trade, but I had a bunch of transactions last few weeks. Sold all my gold, sold a range minnow speccies that were just bouncing along the bottom, bought value international (PMC @ 1.225) and piled into a med tech 4DX.



--------------------
"Every long-term security is nothing more than a claim on some expected future stream of cash that will be delivered into the hands of investors over time. For a given stream of expected future cash payments, the higher the price investors pay today for that stream of cash, the lower the long-term return they will achieve on their investment over time." - Dr John Hussman

"If I had even the slightest grasp upon my own faculties, I would not make essays, I would make decisions." ― Michel de Montaigne
 
early birds
post Posted: Nov 25 2020, 08:07 AM
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In Reply To: nipper's post @ Nov 25 2020, 07:59 AM

really thought SPX gonna retests 3500ish or little lower before 26th/11
but as trump team start to do little transit to Biden team, that news plus Yellen will get the job, really drive the market up!

=================
The Bottom Line:
1
The vast majority of names that are NOT Mega Cap Tech stocks have kept the SPX near its highs. The RSP Equal Weight S&P 500 ETF has benefited even more. As noted in last night's Ten Tidbits piece, since the close of 11/06, the RSP is +7.6% vs. 2.1% for the SPX.

2
The consistent passing of the leadership baton has completely shifted to "the field" this month. Given the long-term RSP vs. SPX downtrend - which started in 2016, accelerated in 2019 and then became an all out crash in 2020 - it's clear how the recent relative strength still could be in the early stages. See charts below.

3
The bottom line is that the vast majority of ALL stocks are moving higher in unison. And that's why it continues to be important to focus on breadth. The SPX's Cumulative Adv-Dec Line has been leading for MONTHS. And if there's been one constant from October through November, it's been that.

4
Since 8/6, the GDX Gold Miners ETF is -25% vs. +6.7% for the SPX. It's now close to testing April's major breakout point (30).
==============

looks bullish as ever!!


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nipper
post Posted: Nov 25 2020, 07:59 AM
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In Reply To: early birds's post @ Nov 25 2020, 07:48 AM

How much before any pullback? Must be scaring the shorts and the catastrophists



--------------------
"Every long-term security is nothing more than a claim on some expected future stream of cash that will be delivered into the hands of investors over time. For a given stream of expected future cash payments, the higher the price investors pay today for that stream of cash, the lower the long-term return they will achieve on their investment over time." - Dr John Hussman

"If I had even the slightest grasp upon my own faculties, I would not make essays, I would make decisions." ― Michel de Montaigne
 
 


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