Market Outlook

USD still wants to retrace which should be bullish for stocks.

 

I'm afraid I couldn't find those charts in my newly acquired "perfect Technical Analysis kit for the advanced trader ".

We guys are so lucky to get bicycle boy free advice- can't wait for him to grow up and roar around ET the engine of his 50cc moped - he might even unleash to us the power of his proprietary 18542620052654002 nanoseconds chart

 

SP500 bearish daily chart is confirmed despite overbought USD.

 

Although your trade clearly failed, at least you had the guts to post it

 

Actually failed much quicker than I had expected before hoping on a short taxi ride - time I reached home, had a quick chat and turned on the workstation, it'd been through my mental stop

Disappointing period on the markets but main business surprisingly healthy - quite the contrary to the first half of this year.

 

SPX breaking down, maybe it closes below 1200 today!

I wouldnt worry if you are long, they will prop it back up in the next couple of weeks during the holidays, not only that, but the santa clause rally is coming so thats just another excuse to go long, thats like guaranteed free money, right bulls?

HAHAHA

 

The real problem is that this market will move down for sure if the brainless politician stay away from it. But, as a politician, you have to do something to show that you are saving the world, so, the easy and the only way is to kick the can down the road and this create all those chops.

For me, I would rather have the market tank another 50% and then rebound, but obviously this will be the career suicide for the politician.

So, we will have the market down for another week, then up again, and down again and again until the country is completely bankrupt - enjoy the ride.

 

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Agree,SPY, BAC, SLV,C, silver are pretty good downtrends;
by many measures.

GLD, gold are pretty good uptrends by most measures[except 50dma...............................................................................

 

Overbought USD retraces at last, hence stock bullish.

 

REMINDER: SP500 etc bearish daily chart is increasingly influential and megaphone wedge continues to warn of big move ahead.

REMINDER: SP500 monthly remains bearish and USDX weekly remains bullish so it’s only a matter of time until the market makes its move.