Seeing these markets very well.... 21 for last 23!!!

We've taken model from 83k in mid Nov to over 104k as of close (12/10) using SPXL, SPXS, UCO and DTO. CMTs at work!

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Latest work on the global markets for Fintec Group

WHAT A DIFFERENCE A WEEK MAKES

Here are some random observations before we get into today’s analysis:

  • Changes are abound in the markets – at least for a week.
  • We saw a sharp turn in fortunes in equities – from ...
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Crude and the S&P

Resistance on crude oil comes in the form of a range from 49.21 - 49.63. If 49.63 is broken on a 240-minute basis (10am, 2pm, etc.), there's clear air up to $56 in our humble opinion. If $49.63 holds, however, ...

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I'm still skeptical of this market...

...and here's why!

Wave counts and Elliott Wave rules just don't paint a bullish picture:

  • On a very macro perspective (using the weekly chart below), the S&P is set up for a relatively deep correction off of the highs for ...
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Morning strategy - cover shorts and wait a bit longer to go long

Notice we didn't flip and go long the market this morning even though we did cover the short. I'll be more comfortable with a long side play between 1854 and 1872 on the S&P futures. Stay tuned.

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Rough opening for equity longs

Good morning for those of you safely in cash or bonds this morning.

It's going to be a rough open for the equity markets this morning (S&P futures are down about 33 points or 1.66% at 1930 and the NASDAQ ...

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Coming into view....

For the S&P futures, we see a short-term bounce from current levels at 1944 - 46 to 1971 - 75.

We would be buyers between current and 1944 with stops below 1944 on a 60-minute basis and an upside target ...

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Beware of 700 - 1000 point down on Dow on Monday - Wednesday

...at least that's what the charts are telling me.

Don't go into weekend loaded up with stocks!!!

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Naz futures chart

Here's the bullish look at things:

4319 - 4320 has been a significant level of either support or resistance for the last couple of months. I believe it will act as support once again as this upside correction ebbs and ...

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Afternoon update

Obviously a nice downside reversal occurred prior to 2pm (the 240-minute close) turning the bearish trade in our favor.

I would be holding overnight, but would be ready for some volatility tomorrow morning with the jobs report due out at ...

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Take profits on today's intraday long!!!

I was unable to enter an exit trade for today's intraday QLD long before the close and the system won't let me make an after-hours limit order - unfortunately.

I would be taking that long position off the table immediately ...

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Quick update on levels

As noted earlier, 1947 on the S&P futures is the trading target for longs.

However, I wouldn't be shorting until 1960 is tested. Stops should be honored on any 10 minute close above 1960.50.

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Reviews Average Rating          

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