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Friday, March 27, 2020

$SPX - Large Scale

SPX tried and failed to breakout above resistance.  Price hit major support exactly and bounced this week.

Down pressure remains this year.

Quarterly

42 comments:

  1. Sc so small bounces. Will it hit sox 1500 at some point if yes whe . Thanks

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  2. So no more rally in the cards next week?

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    Replies
    1. SPX can edge higher next week, but most gains are already in.

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  3. Main points of the chart are to show why SPX failed.

    Then also why it bounced where it did.

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  4. The mid support looks like it can hold for a while. It'll be tested again.

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  5. Replies
    1. So Trump will go for a second cadence as there will be enough time to build for a cause for a financial crysis which will happen after his presidential cadence?

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    2. The financial crisis has begun before the Election.

      It'll be Sanders vs. Trump.

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    3. When do you think 1550 will happen SC, April, or later? Now that VIX is so high, put profits are minimal.

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    4. The indexes are making important low in 2-3 months 4/9 year cycle low not much lower than the last low.
      The Correction begun in 2018 and this is the culmination not the beginning.
      Forget about 1500. It is mini 2008 everything lower. Next is everything higher commodities stocks final hooray until 2022. Then comes the big crises and game over with printing money.

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    5. Thank you Krasi! Third week of May looks interesting.

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    6. Joe, I'm looking at later. The Virus dominant into May. Then Election fears take over.

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  6. Where do you see TVIX going?

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    Replies
    1. TVIX consolidation currently. Our chart working ok.

      I have thoughts on some targets and timing, but let's see things progress a little here first.

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  7. Still expecting Sander . Not bide . Spx will hit 666 than. What u feel that 1550 will we have new highs.2600 or so Lowe high

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    Replies
    1. Let's take it one step at a time.

      We will see bouncing around here as major support was hit.

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  8. you sheep are funny, don't fight the fed, don't try to figure out gold and silver, your cycles haven't worked at all on gold or silver....the paper trade is about to implode, btc type moves coming in gold.....you sheeple are stuck in your houses trying to figure out a cycle that is non existent

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    Replies
    1. Says the clueless guys who was expecting silver at 22 in 2016 when I told him this is a top and 4 years later silver is lower..... wait cycles does not work muahahahaha

      Or the SP500 will drop slightly 3100 and fly when I wrote 30% lower for 4 year cycle low..... wait cycles does not work muahahahaha

      You are just another clueless guy baa baa

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    2. First they will steal everyone's Gold by dropping price then the will run it

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  9. Well I'll throw in my two cents and it's about worth that much. My predictive model shows the first drop of -27%. Actual was around -36% to -38% depending on the index. Second drop shows around -47%. That would be around 1560 on the SPX. The rest of the year and next just shows a struggling market. https://www.screencast.com/t/9o7SA1cD

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    Replies
    1. Interesting, thank you! I have a turn date third week of May.

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    2. Time wise, 4/10 would be 161% out from the high.

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  10. In general the good news is this doesn't look as negative as 2008 for the USA. In 2008 SPX fell 57%. This time we'll only some 50% drop.

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  11. Replies
    1. When do you see the final bottom?
      Do you think silver will bottom before/after silver?

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  12. SPX should reach 2,700's before the next drop.

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  13. sc, we have a gap around 2900 on S&p. may be a target for the rebound?
    svxy top on 24 march.. divergence with S&p500..may be a call for a leg down in your opinion? i.e.SVXY has not confirmed the February top and market go down..

    many thanks..

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  14. Most of the time I'm impressed with your analyses. Not so this time, SC. The high on february 19 did not fail to break out, as you suggest. The upmove from the bottom of 2009 stopped exactly to the day on the right price. Take a hard look at the SPX and see if you can come up with a better answer, for your own good. This is the most flawed chart/analyses I've ever seen/read on your blog (although I can't dispute the target, because I have not the slightest idea at the moment how this will play out).
    All the best.

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    Replies
    1. The words are of no significance. The value is in the chart.

      I keep the text to a minimum.

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  15. Sc vix down vxx down r u expecting 2700

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  16. What are your thoughts on TVIX?

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    Replies
    1. TVIX is not acting normally in my opinion I have expecting this stock block of the go up to 2715 to 2800 by April 20th at that gets smashed down to 1700 by oct maybe the it will be 500 who knows

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  17. When do you see the final bottom in oil?
    Do you think silver will bottom before/after silver?

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    Replies
    1. Oil target in the teens. Currently reviewing oil. Will post oil charts.

      Oil is still a short at this point.

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