SPX has bounced once again at the 50 day moving average. However, these bounces are looking too obvious, and thus prone to failure. SPX is likely to have an August swoon. Daily
Earlier in the year I had posted bearish charts for the Chinese markets. Since then YANG has jumped over 100%.
At the time I had stated that the next problem is the Chinese markets.
Now I do agree the Chinese market is likely getting ready to put in a low. Yes we should watch for opportunities. I would enter a washout low if that occurred for some stocks.
There's a very specific volatility trade that I've been waiting for. We haven't started the setup for that yet, but it will be extremely lucrative when ready.
That's not for August. I'll explain later what it is and why it will happen.
SC you have been very accurate and I like your mention of August Swoon. The market is back to the top in your spx chart. Thoughts on spx downside and xle? Thanks SC💯💯
SPX looks toppy but this is quiet summertime trading. Let's see what we get in August. After being cooped up for a few years lol traders are taking their holidays now.
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Bought GUSH $72.50 premarket.
ReplyDeleteI've looked at the timing. Expect strength today/tomorrow in Oil shares, then flatten and inch up into August 6th.
ReplyDeleteAim to exit GUSH next Tuesday/Wednesday
DeleteDipped a little since you bought, are you buying more to exit next Tuesday? Thanks SC👍👍
DeleteI'll probably just wait and see next week as it was relatively quiet today
DeleteProbably similar for SPX
ReplyDeleteLooking at the GUSH daily the 50 day average is at $86.96. We should be able to to see $80 to $85.
ReplyDeleteSC, any thoughts why RIG is lagging here compared to crude prices?
ReplyDeleteSPX has been following the model to the day. It showed strong up days Thursday and Friday, consolidation today and up again Tuesday and Wednesday.
DeleteI have noticed that too. GUSH and RIG have lagged but up strongly this morning so it seems they are catching up.
Earnings this week including oil majors partly why they are erratic
Deletemakes sense. thank you!
DeleteSC... can you please post a longer term chart of SPX ? and where you think its headed
ReplyDeleteWe've been waiting forever to see it
I believe I have the big picture Cycle for SPX.
DeleteYes, will do
Sc
ReplyDeleteDon’t we a pullback on spx
Before the run to spx 4450 to 4470???
Setup to pullback in August. There's a specific date coming
DeleteSc
ReplyDeleteOcgn????
OCGN could be good soon for a pop because XBI is near it's low, but scalp only until XBI puts in a solid bottom.
Delete"American Airlines warns about jet-fuel shortages around the U.S., asks pilots to conserve"
ReplyDeleteThere XBI $122
ReplyDeleteScalping Ocgn
ReplyDeleteBought OCGN $6.88. Try for $8's
ReplyDeleteChanges in mask policy coinciding with a low in XBI and OCGN. Higher lows here for both. The charts looks good and makes sense too.
ReplyDeleteSc when will you post the longer term spx path map ?
ReplyDeleteTypically I do that at turning points, but yes okay, I will post it. I am expecting the SPX Cycle to progress over about 10 years time.
DeleteSami
ReplyDeleteNo one has a map for the SPX
But after the first of August
We normally start to turn down a little!
Chinese stocks. An opportunity?
ReplyDeletehttps://www.valuetrend.ca/big-opportunity-in-chinese-stocks/
Earlier in the year I had posted bearish charts for the Chinese markets. Since then YANG has jumped over 100%.
DeleteAt the time I had stated that the next problem is the Chinese markets.
Now I do agree the Chinese market is likely getting ready to put in a low. Yes we should watch for opportunities. I would enter a washout low if that occurred for some stocks.
Louis. INVU may be in play again. What do you think?
ReplyDeleteYes I bought at bottom
DeleteSC, what about the vix and the s&p?
ReplyDeleteWe can see another August selloff pop for VIX
ReplyDeleteThere's a very specific volatility trade that I've been waiting for. We haven't started the setup for that yet, but it will be extremely lucrative when ready.
ReplyDeleteThat's not for August. I'll explain later what it is and why it will happen.
I am waiting SC, so we didn't see the top in the S&P?
ReplyDeletethe sell off is on, get ready, Waterfall Monday perhaps....
ReplyDeleteXBI might flash crash to 95-99 and then a buy....Q's heading for 14K
the only thing holding this up is banks today....this could get ugly.....
the debt ceiling.....treasuries are going to be rushed into....keep your eye on the real issue
I come to eat crow, not a big move down but down it did go....XBI is teetering....one binary event from no bid waterfall....
DeleteIt always seems like it will be next week, this time perhaps it will be.
DeleteSC you have been very accurate and I like your mention of August Swoon. The market is back to the top in your spx chart. Thoughts on spx downside and xle? Thanks SC💯💯
ReplyDeleteSc
ReplyDeleteI don’t see a big down yet
Maybe the infrastructure bill signing
Will cause a sell off
Too early to tell
Let’s see what the day brings
SPX looks toppy but this is quiet summertime trading. Let's see what we get in August. After being cooped up for a few years lol traders are taking their holidays now.
ReplyDeleteThus we shouldn't look for anything big yet in SPX
ReplyDeleteSc
ReplyDeleteThere should be some volatility but definitely controlled
We are due for a small drop
It would not surprise me!
SC, what are are thinking about RIG and earnings tonight?
ReplyDeleteOil continues to be the top trade and our top focus. RIG earnings could liven it up. I'm looking to size up oil positions
DeleteSc
ReplyDeleteI see new highs this week
No reverse yet maybe next week
Sc
ReplyDeleteNew highs tomorrow
Vaccine stocks running today. Delta should be enough to get OCGN into the $8's.
ReplyDeleteNew chart posted!
ReplyDeleteHowever, manual analysis of complex and large-scale PPC campaigns isn’t easy. That’s why you need a smart PPC analysis tool that could help you to dig deeper into the data and find something interesting.
ReplyDeleteI came onto your blog while focusing just slightly submits. Nice strategy for next, I will be bookmarking at once seize your complete rises... click here
ReplyDelete