You might be waiting a while.Philip J Fry said:$30,000 Millionaire said:
Draw a line on your chart and you'll see why i say that. 4050 is an arbitrary number you came up with.
4040 has many tests and rejections e.g. resistance above you, support below you. Draw it!
I'm on the sidelines until it hits 3450.
$30,000 Millionaire said:
New lows coming. Cramer just said we would end the year well.
Quote:In summary for tomorrow: No big changes from the last newsletter. General lean is that bears remain in control because we broke down the H&S pattern and that we are currently in a relief bounce phase. As long as 4020 continues holding, this still has some room to go to 4075, then back-test the H&S. If 4020 fails, we trigger down directly which would see 3985 but my guess is probably continues all the way to that 3870 level below at minimum.
- Bull case tomorrow: As long as that support cluster continues to hold (4020 lowest) the obvious magnet for this relief bounce leg would be to backtest the H&S at 4110/4125. Bears would need to step in no higher than there to keep the correction ongoing. In terms of other entries, if we can push back to 4055 or a little above, I'd be interested in longing again to 4075-80, then probably run there to 4100+
- Bear case tomorrow: Bear case is simple and starts if we lose 4020. While there is the 4000 round number to be very mindful of, if we breakdown 4020 it would probably start the next leg lower. 4015 or 4012 is a decent margin to try a short with 4k, 3985 targets. If we dip to 4k for example then recapture 4020, most know the drill by now and its a failed breakdown and chance to get back long.
$30,000 Millionaire said:You might be waiting a while.Philip J Fry said:$30,000 Millionaire said:
Draw a line on your chart and you'll see why i say that. 4050 is an arbitrary number you came up with.
4040 has many tests and rejections e.g. resistance above you, support below you. Draw it!
I'm on the sidelines until it hits 3450.
I don't have any to recommend. There are likely oil/energy ETF's that are worthy, I'm just not versed in them.Bird Poo said:
Do you recommend any oil/energy ETFs that will capture a run up?
3980 please.....by noon.BREwmaster said:
Nice! thanks for posting. I feel like they try to hold above 4020 until open tomorrow, maybe even 4040, then a slow dump after the opening hour.
BREwmaster said:
I think we see sub 4000 tomorrow. Hourly now looks like an H since Friday.
Dan Scott said:
Potential civil war in Iraq. The palace was raided and US embassy evacuations. Something to keep in mind for oil. Iraq is 4mbd
JUST IN: Ebay locking accounts of users who sell over $600 worth of products until they submit their social security number for IRS reporting. pic.twitter.com/gh0WaxaJHh
— Chris Nelson 🇺🇸 (@ReOpenChris) August 29, 2022
You seen Corn, Wheat, Oil today? Oh boy, my senses tell me something is brewing.
— HY6 (@highyield6) August 29, 2022
Yesterday 4075 was my 1st relief bounce target in #ES_F & hit overnight. Next is back-test of Fridays breakdown: Decision time
— Adam Mancini (@AdamMancini4) August 30, 2022
Plan today: 4055, 4020-30=supports. As long as keeps holding, 4080, 4110-4125 in play. Bears *must* hold there. 4020 fails, next leg down starts direct https://t.co/1zwLyPFxCX
It will take a while to rebuild the police force but they got a record high budget approved for 2022, so the city is trying to self correct. This stuff sucks but it happens in big cities. Shootings are more common in Dallas and Houston. And OP is right, always carry.ProgN said:
Wow, I know a lot in here never go to F16 and that's cool but you should read this thread or at least the OP if you live/work in Austin or other blue cities.
Austin falling down the Liberal Hell Hole - Personal Experience | TexAgs
