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Strategies & Market Trends : Buy and Sell Signals, and Other Market Perspectives

SPY 670.97

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Nov 7 4:00 PM EST

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To: GROUND ZERO™ who wrote (128923)	7/31/2019 7:52:46 PM
From: robert b furman	1 Recommendation Recommended By Trumptown Read Replies (1) of 218607

Hi GZ, Next Wednesday is WWW. The 30 day clx does not get supportive till wednesday. The 10 day is supportive now and will most likely be on next week wednesday as well. 2cs reversed as of yesterday (bearishly) after just touching a toppy number yesterday (from 48.37 to 53.25 lower is bullish). My bet is down into next week tuesday / wednesday, and then up into option expiration on the 16th. This month has one of the earliest expirations of the year - it also allows us the time to have a nice post options expiration in the latter days of the month which may just get us strongly into new highs. This week has huge positive offsets on the 30 and that is just not as good as when the 10 and the 30 day clx align. My first window of that occurring will happen on next week tuesday/wednesday for a reversal day and then hopefully up into the 16th and beyond. The RUT had a potential break out today, it'll stall retest the previous resistance, digest the recent new high and give it another go after finding support in the next several days. SOXL did the same thing and I bought in too early - it digested for a week and then had a great move up. RUT may well be doing the same thing. IF this is the recognition wave - it WILL be powerful! It will carry the mid caps and the small caps. According to Frost and Prechter - it is the personality of a recognition wave. It is a requirement! It is now time for a fast and somewhat scary reset - a reset that has been in the works subtlety holding near ATH since July 16th. It has so far been a subdued reset - it gets less subtle from now until next Wednesday. That's my game plan, I can't prove it, but I'm sticking to it. Bob

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