Johnny Rock's comeback

$105 loss. New balance $4685
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johnnyrock said:
  • yesterday's expansion bar was on low volume
  • downtrend resistance on the daily
  • 5' is messy (looking for ascending triangles or tight flags at the top, coinciding with the highs of the 1st 30' bar (not shown).
For now, I can't see going long.
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Prediction vs. WHAT HAPPENED
  • I was shorting into strength after the NQ had taken out every high in sight
  • The hourly tells the story.
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This market is all a facade Johnny. One of these days we're gonna look back and say "wtf were people thinking".

Houston is going to cause epic pain. More than we realize now. Epic. Forget about infrastructure spending in Peoria for the foreseeable future. We'll be hard pressed to rebuild Houston. Tax reforms a joke. More Trump hot air. Healthcare's a disaster thats not getting any press. Gotta keep us sheeps' minds focused where they want em to be.

And despite it not being front and center of the media "today"...the North Korea situation is 10 times more volatile than we're being led to believe. Although we won't go to war there, a mishap (accident) will send these markets reeling out of fear of a Cuba 1961 scenario. One boo and we get a 5% correction. And that "boo" can come at any time. So it didn't happen today... NFLX up $6. Yeah. Alls well.
Its a facade Johnny. One big facade. When it ends is a good question. But there won't be any warning.
 
vanzandt said:
This market is all a facade Johnny. One of these days we're gonna look back and say "wtf were people thinking".

Houston is going to cause epic pain. More than we realize now. Epic. Forget about infrastructure spending in Peoria for the foreseeable future. We'll be hard pressed to rebuild Houston. Tax reforms a joke. More Trump hot air. Healthcare's a disaster thats not getting any press. Gotta keep us sheeps' minds focused where they want em to be.

And despite it not being front and center of the media "today"...the North Korea situation is 10 times more volatile than we're being led to believe. Although we won't go to war there. But a mishap (accident) will send these markets reeling out of fear of a Cuba 1961 scenario. One boo and we get a 5% correction. And that "boo" can come at any time. So it didn't happen today... NFLX up $6. Yeah. Alls well.
Its a facade Johnny. One big facade. When it ends is a good question. But there won't be any warning.
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This situation in Houston reminds me of a story Jesse Livermore told regarding an earthquake.

I agree with all of the above! It seems odd that Trump is at war with his own party and the opposition. Internationally nobody respects him, and when you add it all up, I think Trump is primed for a Wag the Dog scenario.
 
johnnyrock said:
Prediction vs. WHAT HAPPENED
  • I was shorting into strength after the NQ had taken out every high in sight
  • The hourly tells the story.
More...


FWIW, there was also a 25pt gap magnet from 8/17.
Yesterdays action was a big tell... yesterdays open filled the 8/22 gap, in runaway fashion. The 8/17 gap was clearly in sight with a naked POC. jmh analysis.

Leftover gaps can be used as targets, especially when lined up with other horizontal levels. H's, L's, POC's, S, R, whatever.
 
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