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   Strategies & Market Trendsajtj's Post-Lobotomy Market Charts and Thoughts


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From: ajtj997/29/2021 1:39:45 PM
1 Recommendation   of 45958
 
It still looks like an AMZN dump is coming tonight, which could carry over to the broader market tomorrow:

schrts.co

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To: ajtj99 who wrote (31939)7/29/2021 1:43:29 PM
From: rimshot
1 Recommendation   of 45958
 
AMZN 3573.63 = the lowest weekly close in July 2021, so no decline Staying Power
tonight or Friday unless an actual hold below that price

one level to watch is the weekly 20,2 UBB ...and whether any price advances hold above that
level or not in coming days

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To: ajtj99 who wrote (31939)7/29/2021 1:51:55 PM
From: yard_man
   of 45958
 
FCX doing quite well in spite of copper pullback

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To: rimshot who wrote (31940)7/29/2021 1:54:18 PM
From: rimshot
   of 45958
 
QQQ - destiny to approach the weekly 20,2 UBB again?

stockcharts.com

* weekly RSI-14 has not spent many consecutive weeks above the 70 level during 2021,
except in June & July 2021

368.20 is the highest weekly close seen to date

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To: ajtj99 who wrote (31939)7/29/2021 1:54:50 PM
From: Qone0
1 Recommendation   of 45958
 
If AMZN follows the pattern of the other mega caps it should dump about 5% then snap right back. I wait with baited breath. Wait that's lunch <G>

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To: yard_man who wrote (31941)7/29/2021 1:56:30 PM
From: ajtj99
1 Recommendation   of 45958
 
Yup. The Centerpoint Gap Theory target is about $39.50 on FCX. It looks like a minor delta-hedging of the weekly options is taking place as FCX closes in on an overhead gap at $39.08:

schrts.co

Centerpoint Gap Theory. Don't go long without it!

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To: ajtj99 who wrote (31944)7/29/2021 1:57:21 PM
From: Qone0
   of 45958
 
Explain it please <G>

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To: rimshot who wrote (31942)7/29/2021 1:59:37 PM
From: ajtj99
   of 45958
 
QQQ has weekly rising resistance at about $377:


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To: ajtj99 who wrote (31946)7/29/2021 2:05:38 PM
From: rimshot
1 Recommendation   of 45958
 
QQQ 373.53 = daily 21,3 UBB current value, not touched even once in the day session
in the period since Feb 2021 that is in the chart I am viewing ... the UBB is adaptive so
its value will change over time

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To: rimshot who wrote (31942)7/29/2021 2:11:58 PM
From: rimshot
2 Recommendations   of 45958
 
Percentage of $NDX stocks above their 150-day SMA, shown
on this daily chart -

stockcharts.com

* I have noticed over the years that Ned Davis Research & some of the advanced chart bloggers
at StockCharts.com track this metric for the indices

** one Conclusion: QQQ has considerable upward room before this specific internal reaches the
customary upper extreme cautionary levels

this specific internal displays 3 or 4 higher lows in 2021,
which is bullish until the condition actually changes

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