I'm taking a new job as a manager for a facility that houses all
the new illegals coming in - nice $14,000 a week pay. Sorry guys,
no more newsletters for me!
The Green lines would show the path of a prospective Triangle (
but must rally direct from here) and with the SPX already breaking
below August lows that is less likely
The red path shows a minor bounce on QQQ then down to test
August low
SPX looks like a 3rd wave down so bounce up in wave 4 then down
again - or a larger bounce wave x then down in wave y (but lower
high and down again is what I favor)
QQQ would need to rally direct form here to upside trendline
(would be wave d in the triangle scenario)
as I've stated before, the way these KISS systems tend to catch
trades and because of how markets behave from a wave count
perspective, trending systems like the KISS when they catch a big
winner like this, more often than not the next trade is a whipsaw
small lower or small gain. Again not always but a lot of times.
NVDA here's a great example, after closing out a 155% winning
trade, the next long ended up being a whipsaw.
Now, the good thing is that the next trade has higher odds of
being a winner again. This is the same of the daily indexes that
stopped out -the had nice winning trades from Mar to early Aug, and
a whipsaw on the last trade, so the next long signal has higher
odds of working out
yeah I mean we favor this as some sort of wave 4 vs a major top
being put in, so that means you would recover and at least test the
highs and make new highs during maybe a year end rally but again
we'll monitor and adjust accordingly
QQQ - the triangle scenario not yet negated but would need to
rally strongly directly from here - a move below the prior low in
August would invalidate that option.
BREAKING: Average interest rate on a 30-year mortgage rises to
7.75%, the highest since November 2000. This officially more than a
whole percentage point above the 2008 highs. Mortgage rates are now
up 500 basis points in just over 3 years. The payment on a $500,000
mortgage has gone from $2,000/month to $3,600/month. That’s an 80%
increase not including taxes and insurance.
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SPX Renko weekly
Posted by matt on 22nd of Sep 2023 at 11:44 am
$SPX - Chart Link nice and clean, shows that big support area around around 4250 - also note, that's roughly where the weekly KISS STS stop is
my new job
Posted by matt on 22nd of Sep 2023 at 11:33 am
I'm taking a new job as a manager for a facility that houses all the new illegals coming in - nice $14,000 a week pay. Sorry guys, no more newsletters for me!
https://twitter.com/ImMeme0/status/1705045191399280781
QQQ Daily
Posted by steve on 22nd of Sep 2023 at 10:53 am
QQQ - Chart Link - here you go Johnny
The Green lines would show the path of a prospective Triangle ( but must rally direct from here) and with the SPX already breaking below August lows that is less likely
The red path shows a minor bounce on QQQ then down to test August low
SPX looks like a 3rd
QQQ - the triangle scenario not yet negated but would ...
Posted by steve on 22nd of Sep 2023 at 10:49 am
SPX looks like a 3rd wave down so bounce up in wave 4 then down again - or a larger bounce wave x then down in wave y (but lower high and down again is what I favor)
QQQ would need to rally direct form here to upside trendline (would be wave d in the triangle scenario)
Best to trade what's in front of you
KISS systems trade comments and behavior to keep in mind
Posted by matt on 22nd of Sep 2023 at 10:40 am
as I've stated before, the way these KISS systems tend to catch trades and because of how markets behave from a wave count perspective, trending systems like the KISS when they catch a big winner like this, more often than not the next trade is a whipsaw small lower or small gain. Again not always but a lot of times. NVDA here's a great example, after closing out a 155% winning trade, the next long ended up being a whipsaw.
Now, the good thing is that the next trade has higher odds of being a winner again. This is the same of the daily indexes that stopped out -the had nice winning trades from Mar to early Aug, and a whipsaw on the last trade, so the next long signal has higher odds of working out
yeah I mean we favor
It's just not feeling yet like a bear market rally ...
Posted by matt on 22nd of Sep 2023 at 10:35 am
yeah I mean we favor this as some sort of wave 4 vs a major top being put in, so that means you would recover and at least test the highs and make new highs during maybe a year end rally but again we'll monitor and adjust accordingly
SPX 2
Posted by steve on 22nd of Sep 2023 at 10:35 am
$SPX - Chart Link- early SPX broke structure then formed higher low on small time frame - moved up to test supply zone posted earlier
Short DKNG Update
Posted by steve on 22nd of Sep 2023 at 10:13 am
DKNG - Chart Link - nearing lower BB
That's a beauty - kudos
HD follow up - was a good move after breakdown ...
Posted by steve on 22nd of Sep 2023 at 10:07 am
That's a beauty - kudos Bandit on that trade
that was a great diamond
HD follow up - was a good move after breakdown ...
Posted by matt on 22nd of Sep 2023 at 10:00 am
that was a great diamond pattern you spotted, well done
ah ha ha good one
JBLUI boy o boy
Posted by matt on 22nd of Sep 2023 at 09:55 am
ah ha ha good one
URA rebounding, with some other commodities
Posted by matt on 22nd of Sep 2023 at 09:53 am
URA - Chart Link-
ES below 4375 opens up
ES 9/25 Daily
Posted by steve on 22nd of Sep 2023 at 09:52 am
ES below 4375 opens up for 4363 4355/47 - bulls need to reclaim 4385 for a test of 4400 area
I wish their plane fares
JBLUI boy o boy
Posted by steve on 22nd of Sep 2023 at 09:51 am
I wish their plane fares were that low
XLRE follow up
Posted by matt on 22nd of Sep 2023 at 09:50 am
XLRE - Chart Link-
JBLUI boy o boy
Posted by matt on 22nd of Sep 2023 at 09:48 am
JBLU - Chart Link maybe it will go to zero jeez
That divergence played out beautifully
Posted by matt on 22nd of Sep 2023 at 09:46 am
Compare SPX vs BPSPX - Chart Link- it said last week not to trust the rally/bounce
PMI out at 9:45 am
Posted by steve on 22nd of Sep 2023 at 09:44 am
PMI out at 9:45 am
QQQ - the triangle scenario
Posted by steve on 22nd of Sep 2023 at 09:23 am
QQQ - the triangle scenario not yet negated but would need to rally strongly directly from here - a move below the prior low in August would invalidate that option.
Kobeissi Letter (Mortgage Levels)
Posted by steve on 22nd of Sep 2023 at 09:15 am
BREAKING: Average interest rate on a 30-year mortgage rises to 7.75%, the highest since November 2000. This officially more than a whole percentage point above the 2008 highs. Mortgage rates are now up 500 basis points in just over 3 years. The payment on a $500,000 mortgage has gone from $2,000/month to $3,600/month. That’s an 80% increase not including taxes and insurance.