Thursday, August 15, 2013

Ciovacco Capital is ready to reduce exposure in a heart beat if we do not improve today and tomorrow: ready-to-reduce-risk-if-needed/

As always, I hate to say any thing, as Da "market" will just make me look like a dumb shit, as always, but it sure looks like a massive topping action on the 60 minute SPY, an "Equal Move" scenario would target the gap fill from July 11th around $165, that is, should the market "GODS", IE, Da Aholes at the FED, allow the markets to find their own levels, sigh, wad ever, one thing is that green circle has a couple of MAJOR up trend lines in it, the red and the gold ones, so, there will be a LOT of support at those levels, that is, if we even get there. We are actually gapping under that neck line in the after hours tonight after CSCO's huge earnings miss, who knows what happens by the open tomorrow of course, as Bennie will probably pull his usual panic job and pump in 6 Billion to Da Street to "save" us from ourselves. Even worse is we get the big gap down and then do the unreal ramp job straight up the rest of the day, which is completely opposite of what "REAL" investor's do in that situation, but, of course, there's nothing "REAL" or "NORMAL" about the markets these days.
The $NYSI, $NYMO and $NYAD's all did what they should on a decent down day like today, HOWEVER, my Market Monitor did a weirdo, and the stocks making 4% higher moves actually went UP on both the daily and weekly readings, while the 4% downer's went LOWER, just more bull shit going on in this bull shit market. We've had a MAJOR cluster of the dreaded "Hindenburg Omen's" the last eight days, not a good sign at all, but of course that was back when the markets used to be on their own.
Good luck to you, I'm not going to be doing much, if any thing, until Da Boyz get back from the Hampton's after Labor Day.

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