Not a lot to go over tonight, as it was a sleeper day. The spx is in a range and until it breaks to the downside, it will be business as usual for the bulls. The market has a strange way of lulling traders to sleep right before a big move happens. Our preferred pattern would be to the downside and hard. But the market will do what it is going to do. Here is a piece from Woody Dorsey sent to premium members.
MARKET COMMENTARY: 6/12/19 by Woody Dorsey:
Market Energy: Markets are always and only about Energy. I study the Market Energy. Follow the Energy. Yesterday’s trade exhibited a rare case of the “Leaping Salmon” pattern. Pops we allowed in my profile into 6/11. The quality of the reversal own is instructive and makes the market really easy. If you are short, absolute stops may be placed near the 2910 level.
The energy is due to be declining from here into the end of the week and into (Dates are for members only-special pricing in link below) I will update you on Thursday after the close to diagnose the status of this pattern. Big short covering rallies can occur within severe corrective episodes. The trade into 10/10/1987 has some resonance to this pattern. I am also aware of the 5/3/2011 pattern. These are all possibilities. There may still be Tariffs in the future. Don’t be dismayed by the rationalizations of talking heads. Never Deny Denial but don’t force your opinions on markets. As I say, stocks are easy here. Your stop is 2910ish. Negative profiles are beginning to manifest.
It is very obvious that you bot your views with 3rd party programs ! Not cool man, keep the competition fair for everybody! I mean 22000 Views with 18 likes. For real ? And even an fresh Tradingview account too !
ReallyMe
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FWIW, in the months to come I could imagine S&P doing its major correction cycle (supercyle Wave 2) like this
TradeIndicators
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I've been following you guys for a while and really like what you're doing here. I have a question for you. Do you think the SPX and Bitcoin are inverse correlated? It seems like when the SPX heads down BTC tends to trend up. Have you noticed anything similar to this or do you think it's just coincidence?
We're up 2.77% on this long and then seeing your analysis made me wonder if this could be something. Love your work guys!
Tradingstrategyguides
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Thanks, easy to follow and understand
brooklynqueens
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Energy up big today...
sentimenttiming
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@brooklynqueens, I am kind of looking at it as the exact opposite. After the only move the bulls have (gap up) it has been nothing but selling. Of course the day is young and that could change, but I am seeing negative energy, not positive energy. Thanks for your comment. G
Franchez7
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Thank you!
sentimenttiming
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Can The Stock Market Be Predicted? Below are a series of predictions we made from September. Take a look and you will see, yes they can and nobody does it better than Woody Dorsey!
sentimenttiming
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February 14, 2019
Nominal tactical weakness has been due into 2/22. Now, to reiterate, “nominal tactical weakness” is not a “Sell” signal. It is just the timing profile. Again, as noted: “The Interim profile is still Bullish.” The December Low was excessive, and the rebound is becoming excessive too. If a corrective range is forming, another or, several 2-3 day declines may occur over the next two weeks. Now, the next nominal trading high is due near 4/10ish. That does not mean stocks are just going higher from here to there by any means. It makes the most tactical sense for stocks to correct or to become congested for a while. • Near Term Diagnosis: Sentiment is 83% Bullish today following a relatively rare 97% bullish yesterday. These are clearly cautionary. • Interim Term Diagnosis: The Interim Trend still allows for recovery rallies, by fits and starts, into at least early April or perhaps even into June.
sentimenttiming
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10/16/18 Sentiment Timing Report
MARKET TIMING: A tactical trading low was ideally due last week and came in on 10/11 synchronous with the 0% Bullish. This week is messy with an upside bias due next week. Given the expansion of the range, it may all amount to not very much: “I still foresee a notable relief rally in November. That may be followed by more weakness than anyone expects into year end.” The code is for a nominal Recovery near 10/26 and, post-Election, engineer a decent upside episode into Thanksgiving followed by perhaps surprisingly robust downside in December. These codes may morph and become more, or less defined, so be aware of that. These are tricky times and “loco” maneuvers can occur.