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Monday, November 11, 2019

Market Update - Veteran's Day - 11/11/2019

Seeing a little pullback off my red line on the NASDAQ this morning. Call is a weekly OPEX hangover, after last weeks short covering, into a holiday. Lot's of people took a 4 day weekend, and I may take the day off. I already turned the $VIX alert off, and expecting low volume, and volatility.

So, what's moving this market? Value stocks, as recommended by the racketeers at J.P. Morgan, back in Nov.   See: Shift into value stocks could fuel a solid rally, says J.P. Morgan - Market Watch

I trust the charts, not the crooked bankers, or the corporate owned financial fake news, so let's take a look at this rally in value stocks, as the world burns See: Gerald Celente's analysis of the current trend - already cued up , in the latest Kaiser Report, and The Real Stock Market Is Declining - 

$IWX - Russell Top 200 Value ETF - Look pretty much like what we're seeing in the $SPX, resistance at my red line. Also see the bullish channel - in black. Black lines, are always an alternate, or contrarian pattern, and you're going to be seeing more of these, in the public charts area.  I'm calling this a head-fake wave "B", and expecting a tremendous reversal, any day now, and we may have already seen it. Of course, it could hold up for few days, and even retest these levels - a week from now - as saw back in July (for comparison). Tops take a while to form, and with OPEX coming on Friday... stocks will probably hold up a little longer. 

One more thing: Lying CNBC brought someone on, on Friday, to tell us the Transports has broken out to all time highs. Total fabrication. Unless the $TRAN chart - below - looks like an all time new high to you!


Have a great day,


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