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The System is officially long near 1624. Stop and go short at 1617.44 which is current 4hr support. The Score is bullish but will turn bearish before 4hr support is reached at least at the present time. Enjoy your freedom!
you are always on the bearish side. ....and seems like you push always in that direction. i think 1680 is next...than 1650...than new max. enjoy your sistem which is long.
Giovanni, perhaps you are right because I do have a pessimistic view of the economy for years to come but I try not to let that influence my short-term thinking. The technicals that I use called for an 8-10% downtrend starting in the 2nd half of May and then a maximum bounce near the 1618ish breakdown level, but they absolutely did not favor a breakout above the 1620s even in hindsight. You win some, you lose some. Some near-term sideways or corrective action is due, but a new high is now probable if the 1620s are not broken by much price or time on the next large drop. Good luck.
you are always on the bearish side. ....and seems like you push always in that direction.
ReplyDeletei think 1680 is next...than 1650...than new max. enjoy your sistem which is long.
Giovanni, perhaps you are right because I do have a pessimistic view of the economy for years to come but I try not to let that influence my short-term thinking. The technicals that I use called for an 8-10% downtrend starting in the 2nd half of May and then a maximum bounce near the 1618ish breakdown level, but they absolutely did not favor a breakout above the 1620s even in hindsight. You win some, you lose some. Some near-term sideways or corrective action is due, but a new high is now probable if the 1620s are not broken by much price or time on the next large drop. Good luck.
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