sp'60min
sp'daily5
Summary
So, overnight initial equity weakness... but we're now set to open moderately higher... a daily close, esp' in the sp'1970s will keep open the door to a test of the 50dma in the 2030s this Wed/Thursday.
*I am on the sidelines, am on a 'no-longs' policy from here onward... will be looking to build some short positions... but really, I'd like to wait until the the sp'2010/30 zone.
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Doomer chat, Hunter with Holter
As ever, make of that... what you will.
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Overnight Asia Action...
*Japan is CLOSED until Thursday.
China.. battled hard to overcome initial minor weakness, with the Shanghai comp' settling +1.9% @ 3156. The 3300/400s look due before the bear flag breaks... with viable downside to 2500/2000 in October.
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Good wishes for Monday... and the week ahead :)
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7.30am sp +14pts.. 1972. The faster the market can push up... far better chance of re-taking the 2000s this week.
Seriously, even though I won't be taking any new longs in the current cycle, I really am cheering this nonsense higher.... I want a better level to short from !
notable strength: AAPL +0.5% @ 114. I'd like to short from 116/118. There is huge resistance at the old broken floor of 119/120.
INTC +0.8% @ $29.25... I'd like a short in the 29.75/30.25 zone. The bigger target remains $22s... but that would need sp'1800... if not 1700s.
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