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Sunday, July 26, 2020

$SPX - Level of Resistance

SPX is near resistance and is having difficulty with the overhead gap.

Momentum will likely burn off next for some time.  Let's watch as SPX interacts with resistance just above.

Daily Chart

83 comments:

  1. China posted some strong numbers tonight but they have a problem...

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  2. There is flooding on the Yangtze River the worlds largest Three Gorges dam.

    The heaviest rains and forecast into Thursday.

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  3. For the next days first 3000 and then 3300? Or go up to 3300 directly from here?

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    Replies
    1. SPX could be under a little pressure this week into Thursday

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    2. are you still seeing a drop into Thursday, what target?

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    3. Yes. Not much. Maybe 3,160

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  4. Turn date yesterday and government announced $1,200 checks!!!

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  5. SPX has moved up according to the projecton posted in June. Now we are just waiting for the chart to fill out.

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  6. Im looking for 3280 to 3300
    Then a big move down into August
    Maybe 2950

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  7. Hong Kong fell. Exited FXI my puts.

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  8. US and China have closed their consulates heading into the Election.

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  9. The US and Chinese peacocks are busy displaying their feathers and the more they puff their feathers the more money I make.

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  10. Sc at 3260 will u buy puts or uvzy. I think u expect 3160 by August 7

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  11. SC.. what are the downside targets?


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  12. gold, you better buy it at next shake out.....the dollar and the fiat money game is over......hell is coming, the dow will find 10K in 2021.....old money is back.....

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    1. The clueless guy is back again.... 9 year cycle high with corrective pattern - buy the top mister expert.

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    2. Krasi, sheeple are clueless, go chew on some grass, blinded by the sun, herded by collies....what a shame.....I just banked 100's of K's.....while everyone here was asking about gold and silver, and betting wrong, I was right...born and bred dopes are everywhere even a small cycle board

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    3. btw, the cycle is just beginning dope sheep.....so many dumb investors in this world...they should just call them losers....

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    4. mid 2016 the "expert" above explaining how higher Silver will go when I told him high - the result 4y high and lower for several years for 4y low.
      4 years later the same expert appears at the top again... wait cycles do not work hahahaha.

      Indeed - so many dumb investors in this world...they should just call them losers....

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  13. China getting 7 inches of rain a day. Not helpful for their flooding.

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  14. I'm flat. Much as our hurricane trades. What comes after hurricane? Relief rally.

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  15. Sc u ecpecting spx 3260 or so by August 6

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  16. Sc i just read your post above. Thanks.

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  17. Make the trades guys make the money. Stay nimble until we are ready for the big one.

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  18. Sc i remember u had chart for silver to 5. What do u think of gold and silver

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    Replies
    1. Gold is retesting the 2011 high while Silver has been weaker. Silver is trying to catch up, which makes sense, but still lagging by a long shot.

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    2. Gold has shoot through the 2011 high.

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  19. SC what do you think for gold and silver? Higher until mid August then drop? Higher after August or will that be the high? Thanks,D.

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    1. Silver is interesting. I am glad to see it finally waking up actually. Though I haven't looked at the short term levels closely yet.

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  20. SC... is UVXY going to 21 and then 30 ?

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    1. SC is most generous in sharing his cyclical analysis. But it's also apparent that his models are far more fluid than what he is able to display.

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  21. target on gdx is 30 by end off august

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    Replies
    1. Fed meeting was even more dovish.Bullish for gold and silver.

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  22. Louis ... any thoughts on UVXY?

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  23. We getting close on uvxy
    Maybe 21 to 23

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  24. big day and as usual this blog is silent

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  25. I'm holding onto 700 shares of uvxy, bought back in around a blended cost of 25.50

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  26. Bought tqqq today and shorted uvxy

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  27. SC

    If the spx closes below 3200---this would cause a problem for short term higher projections---still yet to be seen???

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  28. I will let you know when I'm buying

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  29. This market could hit 33oo this looks really bullish we could close gap at 3350 next week

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  30. We were looking for selling into today's date. We have seen exactly that.

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  31. CCL is $14.35 looking good to hit $25 target September 21st.

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  32. For SPX September 21st is a major turn date. It does look like SPX can make a fresh high. 3,400's.

    A few reasons. Back to school being one of them. People will feel much better once schools reopen.

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    1. Is this compatible with an important low in November?

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    2. Yes it is consistent. Once the peak is in it's going to get violent.

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  33. Other than that watch October 15th. Another major turn date. Interestingly that date coincides with monthly options expiry. Major peak possible at that time.

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    Replies
    1. Also I notice VIX futures are in contango and the futures curve has a peak in October.

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    2. By agreement airlines are required to keep employees on the payrolls until end of September.

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  34. sc, 1)if you saying top on august 7th, your are not expecting pull back to 3000, like uvxy 21 to 30.
    2) low in nov, will be visit 2300 this year or higher low

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  35. Let's assess things next week. August 7th could still be a low for SPX.

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  36. Louis do you still see 2950 in August?

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  37. It's just outright crazy how they bidding Apple up like this

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  38. China heating up!!! Looking like a strong week for China.

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  39. SC... are you still seeing a up move on CCL?

    Thanks

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    Replies
    1. Yes, I think it is forming a low. Maybe a little more downside but it looks to be setting up for a run in the Fall.

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