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Strategies & Market Trends : ajtj's Post-Lobotomy Market Charts and Thoughts -- Ignore unavailable to you. Want to Upgrade?

To: Lee Lichterman III who wrote (30696)	7/16/2021 9:10:48 AM
From: Lee Lichterman III	3 Recommendations Recommended By ajtj99 sunabeach The Ox Respond to of 97431

I know it's stupid and no real basis other than past experience but I'm thinking that we aren't going to get a real flush until we take out the nice round numbers on the indexes we are close to. DOW 35K, SPX 4400, NDX 15000 I had a cycle turn this week and internals are beyond ugly but if you remember Y2K and the whole DOW 10K hype etc, those nice even numbers act like a magnet. I do think a flush is near though. I've recently read on zero hedge that Goldman has sold off 1/4 of their holdings, Zuckerberg has cashed in 2.8 billion of FB stock. Les' numbers are showing us close to bounce areas on his EMA scans with only 20-30% of stocks over the 10, 20, 50 EMAs. I don't like it and I think we are grossly overvalued as the consumer has already spent most of their stimulus money and has now racked up 21 Trillion in debt again. Maybe we just get one last hurrah before everyone sells to lock in capital gains tax rates before the possible hikes next year. It just seems as heavy as this market feels, it's refusing to cave in and we are within spitting distance of these nice round numbers that would make headlines to sucker in the last Joe-Six-Packs before the flush just like they did with Bitcoin right before it imploded a few months ago.