Distribution in the tech sector

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A look at the DJIA bullish percent index

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$RUT diamond

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Volitility Index

A doji usually precedes a stronger move but doesnt predict direction............

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Volatility Index

A doji usually precedes a stronger move but doesnt predict direction............

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Stocks rally as consumer confidence jumps (Headline news)

But the $SOX had other plans..........

Does a lower high mean a lower low is next...........


Nasdaq bullish percent index is slowing and showing negative divergence.......

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Was that a false breakout of yesterday's diamond formation?

Stocks rally as consumer confidence jumps (Headline News)

But the $SOX had other plans........

A lower high could mean a lower low next........


Nasdaq 100 bullish percent index is slowing and showing negative divergence.........

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Did we see a false breakout on yesterdays speculative diamond formation?

A couple of charts (click to enlarge)

Testing the limits........


Just another crazy diamond... (ending or continuation?)
Here's a clue, flat RSI.......

Trading is risky.
Don't lose your lunch money...

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Just in time for football season

Looks like there was a huge "handoff" to weaker hands?

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Resistance could be too intractable to overcome here...

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Is it possible

An acquaintance of mine showed me a 10 yr monthly chart of the SP500 and suggested that the index rallies over the next few years off what he called the 4 year cycle low.
Since i dont adhere to the 4 year cycle low approach i was a bit surprised by what i saw as a lack of a current cycle low. Based upon the range of the last few cycle lows i plotted what i believe would be a comparable target for the current cycle low.

Is it possible? Sure it is as most things are...

Trading is risky.
Don't loose your lunch money.......

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September Compq "2050"

Target (2050) if small h&s formation does indeed develope....
Why not?

HOT SPOT SPECULATING...........

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$RUT false breakout........

This does suggest that short term major index tops are in place?

Trading is risky.
Don't loose your lunch money...

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Back to test the neckline?

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Wednesday's chart

Trading has risk.
Dont loose your lunch money...........

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$SPX (S&P500)

Is it possible that the current setup will give more or less the same results as we saw in May?
Of course it is...........

Trading has risk.
Dont loose your lunch money...

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Testing Gravity

Consumer Discretionary (XLY)



Top 10 holdings..........
COMCAST
HOME DEPOT INC
LOWES COMPANIES
MCDONALDS
News CI A
STARBUCKS
TARGET
TIME WARNER INC
Viacom, Inc.
WALT DISNEY

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Financials (XLF)

Could there be trouble ahead for financials?
Possible, unless of course... If they can actually attract some cash to hold things up.....

Trading has risk.
Dont lose your lunch money.......

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SMH, May need to test the low end before moving past resistance.......

3 tries and back down?
(imo) If (when) it pulls back and makes a higher low (expected) the next attempt at resistance could be the one that breaks the downtrend channel...........

Trading has many risk.
Dont loose all your lunch money...............

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Transports made a new closing low

Could help push a rally tomorrow from oversold conditions.......

Dont loose all your lunch money.
Trading is risky business...........

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