"Sleight of Hands" Rally's Are Being Now Being Sold Short

S&P 500SP

Description

⋅ Sep 28, 2021 10:17 AM

Stock market rallies in the S+P 500 in September
have a notably different "characteristic"of behavior to them

These rallies are being "sold",with each new advance,
peaking below the previous high and former value area "support"
as big money continues to unload stock.

Also notable is the draw down in tech stocks, in the face of rising interest rates,
as the bond market is making the" interest rate decision" on their own to raise real rates now.

This rate rise has caused a notable decline in technology stocks
highlighted by Apple Computer, whose Daily Reletive Strength Line peaked months ago.

Big money knows this, so they are taking full advantage by selling rally's
after early and often public buying exhausts itself.

Traders who go into the market to buy the dip, are being "rewarded"
with lower prices at the end of the day, a new "sleight of hands",
and a "market characteristic" that should be watched closely for signs, of "acceleration",

THE_UNWIND
9/28/21
Woods Of Connecticut

Trend Analysis

Comments

DaddySawbucks

⋅ Sep 29, 2021 8:23 PM

Bearish again but oversold condition might be better served selling puts than buying them here...

DaddySawbucks

⋅ Sep 28, 2021 10:40 PM

Fibonacci means nothin. Ur foolin urself if u think u can guess a bottom by some magic number based on dead Italian polymath theory.

It will go down until supply is exhausted. Only the suppliers know when that will be.

Expect a modest weak rally off the double bottom before it breaks even harder imo.

The_Unwind

⋅ Sep 29, 2021 11:32 PM

@DaddySawbucks,

Ha ! Smiles a Fibo discourse, I agree with you 110 % yet so many traders use.
SPX 4368.80 is the number bulls need to hold on Sept.30 Monthly Low for August 2021,
To Avoid a Monthly Reversal for Sept, trading higher, and closing lower.
Compelling story about the high rolling options trader you wrote about.
I think we all have been there, or close to there at least once or twice in our lifetime.

DaddySawbucks

⋅ Sep 30, 2021 1:18 AM

@The_Unwind, Yes i gave up trying to forecast tops or bottoms on Fibo projections, pure nonsense. They run until they run out.

maxaus

⋅ Sep 28, 2021 10:53 AM

@The_Unwind this time I totally agree with you. So, where to from here? 4000 by end of Oct?

leonardoauer

⋅ Sep 28, 2021 11:37 AM

@maxaus, you should expect é 15% ~ 20% sell-off in the next couple of months.
Previous corrections were 10%, só probably this one will be deeper.

maxaus

⋅ Sep 28, 2021 11:43 AM

@leonardoauer, 3644 is actually 382 retracement from Mar 2020. That's actually 20% from the ATH.

leonardoauer

⋅ Sep 28, 2021 11:52 AM

@maxaus, that's right, and a 20% retracement would be a test of the breakout point of the double top that failed on november 2020. But it should take many months, maybe more than a year to reach that price.