Stock Market Today: December 3rd - 7th, 2018

Right. In other words, an opportunity to either buy or profit take--if you are a buyer and not a seller

 

I don't understand the "caving in" by the FED but the FED is signaling "buy." Crazy.

 

At any rate, my theory says SPX 2700+ is GUARANTEED. So, if that's correct--you don't have to believe my theory--the 2620 to 2650 level or even up to 2675 level is a nice BUY ZONE

 

I told you that I'd be back once the SPX is at a level for thinking about entering long. 2018 has been interesting in this way where a person could return to the market--so soon. I hope 2019 continues to be as interesting with "Tariff Man" continuing to be in the WH--an impeachment might add some extra spiciness to the situation, however [the Democrats are now in control of the House]

 

My ThinkorSwim platform is messed up this morning, however,. I could not execute as efficiently this morning because of that nonsense

 

Man, TOS always seems to mess up at exactly the wrong time. I gave up on them over a year ago.

 

This is what I was talking about. Market drops at the open, works off the id OS back into the BB's then drops again, pops to the ma(9) rides it for a bit then drops to a significant daily support level were it bounces, rests above the 2641 level for a bit and when sellers don't kick in they run straight into a double top ID, and selling kicks in..... it's basic and beautiful.

 

December rate hike odds now at around 64%, would get really interesting to see what the FED will do if the odds get closer to 50/50 when the FED day comes

 

I'm positioned right now. Up, I profit take. Collapse, I buy more in this buy zone.

 

Euro and German markets undercut their October 29 lows today, warning sign.

 

TSLA in the green again, it didn't really selloff along with the market lately

 

Real Estate close to HOD, I guess the dovish comments from the FED officials today helping the sector a little bit.

 

So, looks like a test of 2710 tomorrow is being set up

 

NASDAQ off by just 0.13% now, it has a shot of ending in the green

 

NASDAQ turned positive

 

Stocks pare losses on a WSJ report Fed considering a more cautious approach to rate hikes

https://www.cnbc.com/2018/12/05/market-sell-off-set-to-continue-as-dow-futures-get-hit.html

The December meeting will be really interesting I guess, now it wouldn't be a complete shock if they choose not to hike in their upcoming meeting

 

Watching LULU after the close. If it dips, targeting the gap around 106.xx. And if it dips, that may pull XRT down