Direxion Daily Financial Bear 3X Shares Message Board
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Technicals
Bearish cloud cover on the S&P 500. Take a look at what has happened in the past with this. Very possible we move higher tomorrow, but I am guessing we go below 1000 in the next 4 days.
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You're wrong. Bearish cloud is valid when it appears on the tops, we are definitely not at the top, but somewhere inside corrections. So it means nothing
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1063 is the pivot point.
No if, and or buts. A close under pulls out the rug of the SPX.
And a close above 1081 causes a technical rise.- 1 Reply to cmegladon
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History shows this is pretty typical. If we clear yesterday's high than the pattern is done.
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If it can go down to about 1060, then it will drop to about 970.
- 1 Reply to exqindex
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take a clook at past bearish cloud covers....long red bar followed by two white bars followed by another long red bar. The next 4 - 5 trading days could get interesting.
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im looking at 1060 on the s&p as the next support, any breakdown below that (with heavy volume) should bring it down to 1025. now this is where the fun starts, breakdown below 1025, S&P 950 here we come.
i have a feeling we won't see these lows until september (after labour day)that's when the big boys come back from vacation and the volume always goes through the roof.
happy trading,- 1 Reply to mckoukla
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Funny how we wrote almost the same thing. Must be long lost twins. LOL.
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