Let's not get crazy now.

Loco?  Viva la stock market!

No need for names...

For the Nasdaq comp:

20 day high              50 day high
2190.44                   2233.88

Friday's close:  2094.14

So we are 4% off the 20 day high.  Meaningless, with the SPX climbing past the 20 day high it did it without the necessary volume.  Remember, the Turtles did not use volume, I DO!

So, we are still in the path of least resistance that is heading DOWN...until we can clear a high on volume we'll continue to slide down.

market spec and josh time to place the bets on this weeks market action im calling for a down SPX week i hope you two dont agree
because you know what happens when everyone agrees

I hate predicting the future...but when I rub my crystal ball (old deflated soccer ball) I see an up week until mid week then a reversal with us ending slightly negative. I just don't see all these charts escaping all the heavy technical damage they have sustained.

NEGATIVE

I see 5 consecutive flat days with saturday being an up day.  Who knows really.  The market is at an inflection point, it'll tell us soon enough.

ROFLMAO!

now that is funny
so basicly the treo says DOWN

eh whatever, I will only care if I see the market rally on some volume...otherwise it'll just screw with my head...

If indeed this past week was end-of-the-month markup time for the funds and institutions, then logic says that the undeniable lack of volume on up days plus all the charts that were recently destroyed has to catch up to the market sometime mid-week.    Unfortunately, logic hasn't seemed to work too well the past few weeks in this market.    

The fed meeting isn't until the 8th - I can see the market doing the same thing it did this past week until then.    

Does anyone else think that that meeting could send us back down for a while - a "buy the rumor, sell the news" type thing?    Josh, I think I've read you talk in your blog several times about how when rate hikes stop, stocks typically do poorly.   I am correct here?    So even if the Fed decides to pause, it might not be that big of a boost to stocks anyway.    

Bottom line for me - I'm pretty confused right now.    

The Fed stopping isn't necessarily a bad thing. It is when they are cutting that is bad. That means they see OBVIOUS weakness and are having to adjust.

Hiking rates too much always kills the market. When you actually see them cutting you know they went too far and the economy is NOT good.

Quoted Text

Stand aside the SPX as cycles are still LOWER,
longer term cash flow NDX are down till Nov. 30!!!!!

You can see this in daily chart big time...I didn't think Nov. 30th but it sure looked like November.

market spec
what cycle chart do you use?

I just use daily and weekly...but it was funny you posted that in your blog because in my mind it look like the light at the end of the tunnel and I had November in my head for the Nasdaq.

Nothing concrete, more of a hunch.  Mid-cycle elections, mid-East, Oil...earnings blah blah....lots of head wind.  You clear out the Mid-cycle elections you have some clearity.

But, again, I wait for the market to tell me.

Basically, I have read so gosh darn much I have a mixture of a lot of things.  Donchian chains, IBD price/volume action...are probably the two that I use most.  

the more you know the less you wanna trade