October 25 – Are We Rolling Over?

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Are the markets starting to roll over? If so, will it be a deep dip, a 'Buy the dip", or is this just another 'one day sell off and recovery'? Let's take a look at the charts and see what we can take note of...

 

NASDAQ - So here we see that the NASDAQ sold off yesterday, but by the end of the day, some buying came in and gave us a reversal candle. Does this mean that onward and upward we go?

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WEDNESDAY OCT 24th

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Let's do a NATGAS & MINERS review and discuss a few trade ideas, since we didn't have a chance to do that on Tuesday...

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Tuesday – Oct 24th

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As I proof read this report written last night, the Futures for the General markets are actually higher ( Green) .  The markets signaled a possible pullback yesterday.  When we discussed the possible Parabolic blow off top scenarios, it was pointed out that the ride was a bit choppy before that final straight shot to the top.  With that in mind, Let's discuss our markets as of Monday...

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NASDAQ OCT 20 -  The 'choppy' run higher would involve dips and surges.

NASDAQ -  I pointed out that dips to the 50sma would be a good entry point if we were to get one.

SPX MONDAY -  We now saw a 'Bearish Engulfing Candle' taking away Fridays gains.  These are usually bearish and can see follow through down, so let's discuss market dips as a possibility going forward.

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