​INTRA-WEEK UPDATE - OUCH!!

#stocks #crash #crude #aapl #amzn #fb #nflx #googl Monday's rally made it up to 3 points shy of the lower edge of my target range before failing miserably. I was surprised at the failure to even reach 2,816, but not by the subsequent decline.

Put simply, this is very bad action for the bulls - profound weakness in what is supposed to be a seasonally strong period of time.

This morning, I'm watching crude oil carefully. If it manages to hold above $50.51, it may take off to the upside and move towards my target range of $58 - $64. If that occurs, the equity indices could get a modest tailwind.

The move for stocks is to sell rallies for the time being. Sell troublesome longs on a bounce to 2,720 and look to short on an extended rally to 2,750. The downside target for this down phase - after you sell bounces - will be 2,530 on the S&P futures.

Posted to Peak Analytics' Direction... on Dec 06, 2018 — 9:12 AM

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Excellent advice these last turbulent months...
         
Wide stop loss and small at profit taking but that's their style.
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