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Interesting Equity Markets

Interesting Equity Markets

(This is an excerpt from the past weekend premium member report)

The cumulative A/D line for the S&P 500 remains close to a new high. I continue to view the S&P breadth to be positive for U.S. equities.

 

 

 

DJIA (CBOT)

The DJIA has been unable to make a new high for the past 18 months. This is also true for the S&P 500. My thinking is that a decisive new high by these two indexes confirmed by a new high in the S&P A/D is required to put the cyclic bull trend back on track. The Factor Tracking Account is long the micro Dow Index.

 

 

 

 

S&Ps (CME)

A decisive close above 3021 would be a breakout on the S&P chart. Such a close would establish a target of 3640. Factor is flat. I will buy S&Ps if it breaks out before Dow futures. I would not wait for 3021 before acting.

 

 

 

 

 

 

Factor Membership

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Peter Brandt is a 40+ year veteran of trading. Through his Factor Service, members receive:

checkTrading Commodity Futures with Classical Chart Patterns: A free PDF copy of Peter’s classic out-of-print book
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View your Factor Member options here. You could consider your membership in the Factor Service as just one more trade. If the Factor Service is not of value to you, well, it is just one more trade that did not work.

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I hope you will consider joining the Factor community.

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Afraid to short S&Ps because it is oversold?????

 

Traders become accustomed to the recency and expect recency to extend indefinitely

S&Ps have sold off 60 points in just two days. Only fools would short a market that is so deeply oversold.

8.20_ES_D

But is the market really oversold?? Really?????????

8.20_ES_W_v2

 

I am not predicting a top. I trade possibilities, not probabilities, and definitely not certainties.

$ES_F, $SPX, $SPY

Dead cat falling — look out below

The dead cat bounc is completely over!

Markets: $SPY $QQQ $DIA $ES_U $NQ_F