Strap In, Get Ready For a Big Bounce

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Posted by NFTRH & BiiWii

on Tuesday, 10 April 2018 07:15

There are several "Trade War" gaps down located quite a bit higher than where we are trading presently in the S&P 500 and Nasdaq 100. As a rule trade gaps ususally get filled before returnng to the trend in force.  Especially likely in this anxious environment this analyst proposes. In short, should we fill those gaps as you can see on the charts below a very large rally will have to occur. R. Zurrer for Money Talks


Well, they got reversed in-day but I am still leaning toward a short-term scenario where the market at least tries to fill a Trade War hype gap or two. It may not be the ‘M’ top scenario but I feel like the last couple of weeks gave a would-be bounce some fuel with all the anxiety that got stirred up. But you’re right, the market does not give a shit what I feel like.

SPX has tested its daily SMA 200 and is still in a potential (60 min.) bounce pattern. A drop below 2590 puts that in peril.


NDX is still in its monthly, weekly and daily up trends and the 60 minute also has a pattern. Both of them are looking to fill their opening gaps. Still leaning toward a bounce to at least one of the upside gaps. I just don’t feel like I buy the bear at this moment. But my positioning is very balanced with longs, shorts, precious metals and a crap load of relatively* good yielding cash.


* Relative to that blight known as ZIRP that Bernanke put upon savers.

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