bodeen88

bodeen88

We will see if the price stays above the trend line. If it does, look out for another move upwards and a new upward channel forming. Broke out of the last channel. Now one of two things will happen. The top of the channel will now act as support for a future rally. Or the price will fall back into the channel and retest the bottom of the channel. If the price...

bodeen88

Broke out of the channel. Now one of two things will happen. The top of the channel will now act as support for a future rally. Or the price will fall back into the channel and retest the bottom of the channel. If the price falls through the bottom of the channel, the rally will be over. If not, the rally continues.

bodeen88

I think the chart says enough.

bodeen88

Basically it all depends on how these U.S.-China negotiations go. I think the bulls are losing momentum, though. In fact, it could all turn down from here. I'm also waiting to see a cross on my MACD algo.

bodeen88

I don't think this rally based on the jobs report, Powell recognizing that market fluctuations will play an important role in the economy and thus the fed's decisions, and China agreeing to resume negotiations with Trump on trade has enough fuel to push the market through this cloud. The fear is so strong at this point. Investors are selling every rally. First...

bodeen88

If the Fed doesn't lower rates again this year, this little correction in the equities markets might actually turn into a full blown recession, following the emerging market decline. If gold prices go up even a little, these gold mining ETF's will rocket. Also, on a technical basis, I see a distinct reverse head and shoulders, which I consider the bottom for them.

bodeen88

Those of you who saw my chart before perhaps bought TQQQ at $52.50, my target buy price, which should mean you are sitting very pretty right about now even through this short term market indecision. The bounce from this morning obviously didn't last, but the fast that corporate earnings are putting some positive pressure onto the market is a very good thing. I...

bodeen88

This maybe the start of wave 5. I see some bullish divergence on the MACD chart, which I first noticed yesterday. I think I mentioned it in a previous post. The price is going down, but MACD is going up. This is typically following by a sharp upward price movement which we saw today. The late day rally confirmed in my mind that others also view the recent dip as a...

bodeen88

MACD Line just turned negative one the 1D chart, which it hasn't done since March. Bond prices are soaring out of nowhere as the fed continues to raise rates. Yes, the economy is booming, but I think we are seeing the autumn slump here. Buying these loftily-priced FAANG stocks does not have a good R/R ratio. There will be a great buy opportunity coming soon. This...