Dear Readers, under this title we posted few weeks ago and predicted that the Shekel would turn higher ( actually lower(: :)) and that happened. The TA100 has bought a bit more time, but it will turn as well. 1089 was and this area still remains as a heavy Resistance, but possibility of a spike to 1180 ( 3rd Yearly resistance) exists. Real Estate companies lead the TA100/TA25 for a long time, but now they broke down and banks are the only thing that are still pushing these indices higher. That is about to end. Israel is about one year behind USA, REAL ESTATE broke down one year ago in USA...
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5 comments:
Good morning Boris. Yes, real estate in most of US broke down 1 year back, but there are still some pockets of resistance (Northern California, Seattle, Portland, Austin, Raleigh- all hitech areas, and NYC - the epicenter of hedge fund bubble). Maybe Israel's RE is supported by tech industry as well.
What do you think about today's coming gap in NDX? Will it hold after opening ?
Dear Greenie, It is not accidental, in my opinion, that "Authorities" are talking the markets down. Some directly and some indirectly. What a better place than CHINA to do that. The rest You can extrapolate.
Now to the day at hand. I gage the probability of the day holding down or not by the action of the stock/index. If indices go for the fifth resistance (daily) at any time after the open, I would want to collect, at least, 2/3 of the profits. If it develops a bit more orderly then staying in may be a good Idea. So, I suggest we follow closely the early daily Limits and then the subsequent messages related to the progress of the lower levels of support. You (may) know, I am a gradualist and collect profits along the way. That leaves less room for regrets. And makes it possible to reenter the markets later if/when desired. In the general context though, we could as well collapse, I would have no problems if we do. As indicated before AverageBuyPressure is so low, it must move higher and that could take days to work it off. So, the you go, you have the tactics for today and strategy for an intermediate move. Choose your actions wisely, as I see you are a wise man.
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Oh, Yes agree with the assesment of the RE situation.
Dear Greenie, You know I meant 5t Support not the Resistance. Right!
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Anyone have thoughts on Presidential and Decenial timing suggesting another LEG higher starting in June ? It also looks like latest COT report on futures remains bullish as they continue to increase positions for the 5th consecutive week.
Dear R K. A lot of people have the thoughts like you stated. Believe me. Media is full of BULLS for that reason. Well, It could happen, but again there is no law that it should. This time, really, could be different. This is not a hope, I do not care. I know that in "REAL TERMS" we are/will not be in the bull market for a while to come.
Good trading
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