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Indices?

Reading price charts which may give you direction in the market using established TA methodology
SentimentRules
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Indices?

#234994

Postby SentimentRules » July 8th, 2019, 7:35 pm

The Dow (DJI) opened a new month gapped up on the previous month, twice in the last year. October 2018 and December 2018. The average of the fall for those two months was approx 3000 points.

July 2019 is the first gap up since. A very concerning gap for the bull markets as its also occurring at the record high triple top .

The dax has opened similarly and has had the same bearish reactions to those months since 2017.

Others of note and similar....

Nikkie
Set
Nas
Spx
Nifty (last month)
Etc...

Even of more concern is that there is a global moneyflow divergence across most of these majors.

Summary:.

An expectation of a tough summer in markets. Regardless of any US/China deals, Iran, NK etc

Given most don't short here.. .let's call it a buyer beware market. Not confirmed yet. Not a suggestion to bail. But certainly protect.

IMO

SentimentRules
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Re: Indices?

#235005

Postby SentimentRules » July 8th, 2019, 8:24 pm

Il also add to that, 9 of the 11 US super sectors have opened gapped up too. That's a pretty serious benchmark .

The last time i saw this im sure was June or December 2007. And it wasn't 9 at same time. It was less. 7 I think (from memory)

Most at record highs then too

SentimentRules
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Re: Indices?

#235007

Postby SentimentRules » July 8th, 2019, 8:27 pm

The only good news is, nobody can afford a crash in the financials or full blown recession. It's why not confirmed yet. There was no QE in 2006/7 They have little choice now lol

But I'd be surprised if QE can beat this bear down. Shall see anyway

End of boring report


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