Today is very interesting. The DOW looks like it may be breaking down. Watch 16,900 as a close below suggests a break in trend. Divergences are everywhere in this market. A close below 16,805.38 (July 10 low) would really give the bears something to work with. I am still mostly cash with small amount of DIA puts.
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Joined May 7, 2014
165 Blog Posts
Now what? No close below 16805. I love it when traders with a platform step out and sound the bearish alarm in the midst of a bull market…like they somehow know better than everyone else. What now ??????????!!!!!!!!!!
Ahh J livermore.
I am just giving levels here. Last I checked the market is still open. Good luck Jesse.
Ain’t going to happen there chief. Now your just giving levels? You’ve called major corrections since you got here. WTF Gordo?
I have been wrong so far. Its been two months and the dow is up 2%. I guess you want me to call to the day. I suspect you work for the Fed. Such anger.
No offense intended.
HYG is sounding a bit of a warning, don’t ya think, Monsieur Bleustar ?
J livermore,
I was bullish until january. I am not a perma bear. However, All cycles end. So far this is the longest 4 year cycle advance on record.
Juice,
bond folks are always smarter than equity folks.
I know, it will end sometime. I need to watch myself. Respect.
What type of correction are you expecting Blue Star?
J Livermore,
You are a gentleman and a scholar.
flyaway18,
10% minimum.
flyaway18,
right now the trend is still bullish on the dow however the cycle is very stretched. if we take out 16,805 the bears have something to work with. I am not going to add to my bearish positions until then. My point in posting this was to give a heads up. Do with the info what you want. bears have been dead ass wrong for quite some time.
Gdp up ,employment up,deficit down
What’s an economy gotta do to get some respect.
Your time will come bluestar-just not yet
Ruh Roh.
BlueStar, enjoyed your piece on YELP being highly (and shadily) pumped up by the likes of Vin Diesel and Ben Affleck.
Not trying to be a smarta** and not trolling at all, but do you believe there’s any legitimacy to it after its first profitable quarter? Appreciate the insight.
J Livermore,
Bulls still have a chance. I have seen this too many times to get excited just yet.
boyaj,
YELP is a POS. I am not good at day trading this thing but I would say two years from now this is a lot lower. The stock is down big because their new active local businesses number decelerated. Deceleration in a silly valued stock is death. their profit was likely manufactured by management ie they slow down expenses on purpose to try and juice the stock so they good sell some more.
SPX held trendline from 02/05 lows. We shall see in coming days if it is for real or not. This is not for the faint of heart.
J livermore,
The bulls actually need a correction to keep this going. 1929 and 1987 happened because there were no corrections on the way up.
blue:
you give any more significance to today considering it’s the last day of the month. change of character?
juice: see chart
https://pbs.twimg.com/media/Bt4T6kACMAARST3.png:large
one of many pointing to the same on hy
bc21
open tomorrow is important. lower open look out below. not good to have such a bad day on month end.
blue:
thx for the input. check out the support which gave way on the dow: h/t @jessefelder
https://pbs.twimg.com/media/Bt4ZesrCYAM7M-f.png:large
Bluestar was right today and I will
not be a bull on this site until ” The moon
looks like a big pizza pie” thats amore
Gorby,
LOL, Its only a day. Lets watch some more.