Wednesday update

While the US appears to remain on cruise control we have been uncluttering the weekly charts on the chart link. Some go back to 2009 with lots and lots of historical, but currently unnecessary waves. For example the AAPL weekly chart looked like this:

now looks like this:

CHARTS: http://stockcharts.com/public/1269446/tenpp

About tony caldaro

Investor
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439 Responses to Wednesday update

  1. Lee X says:

    Thx Tony

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  2. fionamargaret says:

    DWT….short oil to 59/60…..inventories out, but still think short…

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  3. gary61b says:

    anyone think ES is in micro 3 of minute 3 of major 3. or micro 5?

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  4. I was in cash, until a few weeks ago, now slightly more than 100% long.
    Breadth measures are too powerful to resist (SPXA200R)
    Many looking for stall or topping at spx 2800.
    I don’t think so .

    The new wild card is the Trump deal with NK.
    A political hot potato with many here, regarding stock valuations.
    Just as Trump election (Nov ’16) was a turbo rocket for the indices for 14 months,
    I think the NK deal will be somewhat similar, but slower off the launch pad.

    Imagine all the people living life in peace
    John Lennon
    1940-1980
    Powerful sentiments.

    Sorry in advance for any who find this comment viscerally offensive.

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    • vivelaamo says:

      Agree with 2800 not holding but I don’t think NK will have anything to do with. The stock market doesn’t care about NK.

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      • Very respectfully, not agree.
        Money to plant and equipment has a huge multiplier (money velocity)
        Money to bullets has zero multiplier.

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        • mcgcapital says:

          I think he means as things stand.. like the market is currently pricing nothing happening with NK, so if nothing happens with NK it has no effect on expectations and therefore price.

          Clearly if something bad happens and it escalates the markets will probably start caring.. but how likely is it that KJU starts something when he knows he’d never win a military conflict. It’s very unlikely, so best to ignore it when making investment decisions unless something happens

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        • vivelaamo says:

          The market didn’t seem to care last year when ‘rocket man’ was firing missiles at Japan. It set new records around the same time.

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  5. scottycj1 says:

    Tony,
    This format could be good…..A Wednesday and weekend update.
    Not too much changes in a few days…….think you could cover most with this schedule and catch up on your health.

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  6. mcgcapital says:

    Taken half on FTSE shorts with the oversold RSI.. will hold the rest and see what happens later

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    • mcgcapital says:

      Buy signal now for a bounce if 7700 holds

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      • mcgcapital says:

        Only managed 15 on the bounce.. probably going to have another go at breaking 7690 now.. it’s a sell under there, need to see if it can hold without faking out.

        Got no positions on going into FOMC, where we end up by the close depends whether tomorrow is going to be a longs or shorts day

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  7. jobjas says:

    a potential ending diagonal

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    • torehund says:

      You had a continuation pattern dig zag 2011 to 2017, then the previous limb is shorter than the current one. So an abc from 2009 is now surpassed. Apple will continue in a straight line upwards, insane yes but a chart is a chart.

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  8. phil1247 says:

    phil1247 says:
    June 11, 2018 at 8:48 am
    esu8

    in extension longs

    2795.5 target
    bull above 2768

    3000 plus continues to be validated

    >>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>

    target hit !
    now do we pull back
    or go thru target and create a new extension long?
    ie …. upside acceleration
    ie …. wave 3

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  9. pooch77 says:

    ???????

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