Friday, August 10, 2018

Still so close to new highs

When we bounced off a channel support late in today's session, I noticed how we may still put in that so-far elusive new high on the S&P 500. 



And it may be by a single point, après quoi, le déluge.

S&P 500 hourly, ending-diagonal from the 2553 level

What's really bothering me is what may be shaping up to happen in the wake of the November elections.  I won't talk of it again until the waves leading up to it start falling into place, but I am already very worried for our nation.
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15 comments:

  1. christiangustafsonAugust 10, 2018 at 8:33 PM

    What happens after November 6?

    The day after the Election is a New Moon (tend to mark highs) ... but it may come at the worst possible time here.

    ReplyDelete
  2. AnonymousAugust 11, 2018 at 7:36 AM

    Here ya go CG.

    https://twitter.com/WokeCapital

    ReplyDelete
  3. AnonymousAugust 11, 2018 at 5:27 PM

    #SkyKing

    ReplyDelete
  4. christiangustafsonAugust 13, 2018 at 10:05 AM

    Q. Did McHugh nail it with his 8/8 phi mate turn last week?

    8/7 - 8/9 could be an island top ... no need to fill Friday's gap down ...

    glta

    ReplyDelete
  5. AnonymousAugust 13, 2018 at 10:48 AM

    VIX is signaling a decent pull back here in the short term. Back to 2700 again? Soooo boring.

    ReplyDelete
  6. Bryan FrancoAugust 13, 2018 at 10:53 AM

    I think the Dow needs to make up some ground vs the S&P before a long term top is put in. Also think we would need to see more deterioration in the small cap indices relative to the large ones.

    ReplyDelete
  7. christiangustafsonAugust 13, 2018 at 11:21 AM

    How about 2553 on 27 August?

    I'll buy that low if we make it.

    ReplyDelete
  8. T.BerryAugust 14, 2018 at 12:40 PM

    nothings changed, bullishness still very strong.

    *4.1% gdp
    *record 401k values
    *record home prices

    q2 earnings highlights:

    s&p 500 companies:

    *aggregate sales increased 10%
    *earnings increase by 25% (wow!)
    *79% of companies BEAT earnings estimates
    *72% of companies BEAT sales estimates

    the fundamentals don't lie and that is what stocks trade on. always have and always will

    really nothing that would derail the longest bull market (8 days from now) in history from continuing for the foreseeable future




    ReplyDelete
  9. T.BerryAugust 14, 2018 at 12:43 PM

    hugh,
    buy of a lifetime yet?

    ReplyDelete
  10. christiangustafsonAugust 14, 2018 at 12:47 PM

    plan to btfd in 2 weeks

    ReplyDelete
  11. AnonymousAugust 15, 2018 at 6:55 AM

    "buy of a lifetime yet?" You mean UVXY?

    ReplyDelete
  12. christiangustafsonAugust 15, 2018 at 7:39 AM

    Looks good so far.

    We still have to punch through the lower support at 2780 SPX for this to confirm the end of the ending-diagonal and Game On.

    GLTA!

    ReplyDelete
  13. T.BerryAugust 15, 2018 at 7:51 AM

    hugh, no, you weren't a buyer at 8.11 when i asked 2 days ago

    ReplyDelete
  14. T.BerryAugust 15, 2018 at 7:53 AM

    sorry hugh meant "yes"

    ReplyDelete
  15. T.BerryAugust 15, 2018 at 9:52 AM

    c'mon bears can we get a 3% pull back, my margin finger is getting itchy lol

    ReplyDelete

Always enjoy good conversation and exchange of ideas.