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  1. #1
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    SPX - Expecting a rally this week.

    Now that monthly OPEX is over I am expecting a bear rally this week. Looking for the gap at 390 and possibly 423 on SPX to fill.


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    #2

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  4. Stocks/Investments Moderator boneil's Avatar
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    #4
    I'm with you on a rally part.
    Thanos was the hero

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    #5
    Also agree with the bear rally possibility

  6. idbefishing
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    #6
    We still have nothing macro wise to support a large rally. Liquidity still low, no involvement from institutions, might be a short rally

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    #7
    Quote Originally Posted by idbefishing View Post
    We still have nothing macro wise to support a large rally. Liquidity still low, no involvement from institutions, might be a short rally
    Bear rally aka bull trap aka dead cat bounce

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    #8
    Quote Originally Posted by Bassmaster96 View Post
    Bear rally aka bull trap aka dead cat bounce
    Yep ... dumb money pit. Anyone jumping into it now, better have a Plan "B".

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    #9
    I would say a bear rally to at least the gap fill, followed by a sharp decline where we find our bottom around the weekly 200 MA around 3400-3500. After that sideways/upwards to end the year.

  10. idbefishing
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    #10
    Quote Originally Posted by BassAllYear96 View Post
    I would say a bear rally to at least the gap fill, followed by a sharp decline where we find our bottom around the weekly 200 MA around 3400-3500. After that sideways/upwards to end the year.
    Alright! I'm going to go all in on that bottom.

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    #11
    Quote Originally Posted by BassAllYear96 View Post
    I would say a bear rally to at least the gap fill, followed by a sharp decline where we find our bottom around the weekly 200 MA around 3400-3500. After that sideways/upwards to end the year.
    Sounds valid

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    #12
    Quote Originally Posted by BassAllYear96 View Post
    I would say a bear rally to at least the gap fill, followed by a sharp decline where we find our bottom around the weekly 200 MA around 3400-3500. After that sideways/upwards to end the year.
    Can you translate this for this non-financial persons?

    What does 200 MA mean? Is this a moving average?

    I assume 3400-3500 is for the S&P 500? Correct?

    Thanks.

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    #13
    Yes so historically during a market downturn the weekly 200 moving average is where the S&P likes to go and it will form a bottom. I will say if there were ever a time it were to go lower I think the stars could be aligned this cycle.. trade wisely.

    There will be no bounce like we saw during covid, we don’t have stimulus injections getting pumped into the market this time.

  14. idbefishing
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    #14
    Yeah, high can go higher and low can go lower.

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    #15
    Major update. The volume on spy the last 2 days has been extremely low all while the price has rose significantly higher. This signals this rally is almost 100% short covering to free up capital to buy the bottoms. The bid has essentially been empty all day. I think we are going to see a sharp sharp capitulation selloff in the next week…
    Last edited by BassAllYear96; 06-28-2022 at 01:41 PM.

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    #16
    Quote Originally Posted by BassAllYear96 View Post
    Major update. The volume on spy the last 2 days has been extremely low all while the price has rose significantly higher. This signals this rally is almost 100% short covering to free up capital to buy the bottoms. The bid has essentially been empty all day. I think we are going to see a sharp sharp capitulation selloff in the next week…
    I am surprised today has held up as good as it has

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    #17
    Quote Originally Posted by Bassmaster96 View Post
    I am surprised today has held up as good as it has
    When you're fishing, an empty hook is poor bait.

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    #18
    Quote Originally Posted by TampaJim View Post
    When you're fishing, an empty hook is poor bait.

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    #19
    Let the capitulation begin…

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    #20
    Quote Originally Posted by BassAllYear96 View Post
    Let the capitulation begin…
    It's spelled decapitation.

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