There will be a follow through on Monday as many investors worry
now is a recession possible. Steve I believe posted Friday is a
rare time to find bottoms. Good weekend.
That's not a Steve thing - Friday's are well known not to be
good bottoming days.
and as far as recession, I'm the one who's been pounding the
table with that Yield Curve of mine - while pundits on CNBC have
talked soft landing for the last year and continue to call it.
Yield Curve was inverted the longest in history
the Stockcharts vs hasn't updated yet and I will post later
after it updates, but the yield curve is now nicely above the 1.0
ratio
as far as the market, this move down is either a wave 2 under
the 'bulls' scenario, and wave 2's are generally very deep. Or this
is a more bearish wave 3 down and will test or make new lows like
it did last fall following the early Sept lower high bounce
I think 5386 (min) on Monday and then high alert for reversal.
Next level for me 5323 where there should be a lot of demand
(we'll see if it can overcome the negative gamma). The next level
below that is almost exactly 100 points at 5233. However, if it
goes there, the technical bull case for the market is pretty much
shredded. Nothing that QE can't fix with nominal sleight of hand,
but it will take that to reverse this market if it breaks too much
lower.
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There will be a follow
Posted by rbreese on 6th of Sep 2024 at 04:08 pm
There will be a follow through on Monday as many investors worry now is a recession possible. Steve I believe posted Friday is a rare time to find bottoms. Good weekend.
That's not a Steve thing
Posted by matt on 6th of Sep 2024 at 04:34 pm
That's not a Steve thing - Friday's are well known not to be good bottoming days.
and as far as recession, I'm the one who's been pounding the table with that Yield Curve of mine - while pundits on CNBC have talked soft landing for the last year and continue to call it. Yield Curve was inverted the longest in history
the Stockcharts vs hasn't updated yet and I will post later after it updates, but the yield curve is now nicely above the 1.0 ratio
If Monday opens higher, watch
Posted by bthefnd on 6th of Sep 2024 at 04:49 pm
If Monday opens higher, watch out below!! I will fade the living you know what out of pop Monday morning.
*Unless they announce QE Sunday night...which has happened before. In that case, I'll be buying the gap higher (in BTC and SPY)
as far as the market,
Posted by matt on 6th of Sep 2024 at 04:36 pm
as far as the market, this move down is either a wave 2 under the 'bulls' scenario, and wave 2's are generally very deep. Or this is a more bearish wave 3 down and will test or make new lows like it did last fall following the early Sept lower high bounce
How do you feel about
Posted by bthefnd on 6th of Sep 2024 at 05:27 pm
How do you feel about this being a potential C wave?
I think 5386 (min) on
Posted by bthefnd on 6th of Sep 2024 at 04:18 pm
I think 5386 (min) on Monday and then high alert for reversal. Next level for me 5323 where there should be a lot of demand (we'll see if it can overcome the negative gamma). The next level below that is almost exactly 100 points at 5233. However, if it goes there, the technical bull case for the market is pretty much shredded. Nothing that QE can't fix with nominal sleight of hand, but it will take that to reverse this market if it breaks too much lower.