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Feeble Rally Hints of Trouble

By Rick Ackerman Posted on September 28, 2017, 11:00 pm EDT Last Updated September 29, 2017, 10:24 am EDT

Even stocks that rallied Thursday looked heavy, suggesting they are in distribution.  AMZN (click on inset) was one of them — up $6 on the day but unable to punch through a thin band of supply created a week ago before the stock went over the falls. If it pops through today, bears had better take cover.  In the meantime, I’ve put out out some actionable plays that could trigger if shares open moderately to strongly higher. Check my chat room posts around 18:35 for specific guidance. If you don’t subscribe, click here for a free two-week trial that will allow you to see the tout, and also to enter the Rick’s Picks chat room, where great traders from around the world swap timely ideas 24/7.

  • none September 29, 2017, 10:43 am

    Major all out market ‘risk’ are high:

    09282017
    JYP market update:

    The JYP market has created a ‘daily’ longer term spring in the last 6 trading days. Along with several shorter failure low springs at an important price level.

    To take note, this has only taken place at the JYP ‘exact’ 10 year low point 06052015 and latter just prior (date 11182015) to the 20 trading week breakout level of the last bull phase toward par, labeling it phase 1 (or wave 1).

    JYP now looks to start a major 3rd wave higher move towards its all time high, and the low that was created today is a low that becomes a ‘false low’ or an ‘operational low point ’ to shake all longs away and out. Meaning that any prints under todays lows is an ‘operation’ for longing the market on a big scale.

    The JYP market is the interest rate differential between the FED and the BOJ, it is a major statement towards ‘risk’ levels in the equity market, thereby suggesting risk is very high if JYP is ready to move into a 3rd upward wave.

    3rd waves are deal breakers towards risk as they become or get out of control towards hedging concepts, continue rising week lows and highs are keys towards the market creating that statement. This is something that JYP is looking at dead ahead, a slingshot statement off these lows in the coming days will or should be observe.

    Have a great weekend Rick!

    Stay well.

  • Rick Ackerman September 28, 2017, 11:18 pm

    Reposted by Rick on behalf of John Jay:

    With a cash stash of 261 billion dollars, Apple is the one stock with a climbing price that makes old school financial sense.
    Marty Zweig kind of sense, God rest his soul.

    You have to hand it to Apple, they have a cult like following willing to pay whatever price Apple throws out there!
    Personally, I love ebay refurbished desktops and laptops for $100 a piece.
    I bought an Acer Chrome book for $100 five years ago, and it never lets me down!
    I just replaced the battery for $12, no tax, free shipping from ebay!
    But that’s just the Connnecticut Yankee in me!

    God bless Apple, thay sure seem like the real deal, which is refreshing in this day and age!

  • Rick Ackerman September 28, 2017, 11:16 pm

    Re-posted by Rick on behalf of Seneca:

    Today we are seeing inharmonious action in breathe towards the downside in the advance decline process. This is taking place near and at the +600 failure swing level in the Ratio Adjusted MSI, along with the raw MSI being near the +3000 level.

    This is suggesting that weak breathe is confirming that liquidity is leaving the equity market.

    Important 7 year cycles are in play at the 09282017 date, the range of trading days can be as much as 8-12 trading days on each side.

    This high will be an important high, and could meet latter on with a same high or slightly higher high.

    To confirm that we are moving towards this major high we must have the 4% rule come into play, as the major indexes moving in 5-7 trading days from high to low by 4% in price.

    This will place the market ‘in the turn’, closing the quarter at the highs and coming into October as the spike or top within the 1st week is the alerted time frame.

    The high itself may have a decline of 10-15% in a 4-6 week time frame.

    This will confirm that the ‘barn door is open’ towards volatility and the turn has begun in earnest, as the MSI moves towards zero and creates a ‘sell capitulation signal’.

    This inharmonious action in breathe today is an internal flag that the market ‘is capped’.

    Inverse markets:

    GC
    SI
    ZB ZN
    EC
    AD
    BP
    CD
    JY

    These markets should be carefully observe to restart their upward trends.
    DX lower.

    09282017
    Observing the collapsing NFI under zero on a all time high day for the SPX suggests looking for a major turn is in order.

    A major turn in the stock market will bring GC down very fast, towards large support levels then GC will dislocate away from the equity markets.

    The same with ZB/ZN, the inverse currency markets can move towards the recent trend upward from the turn itself.

    Moving into the new quarter must be observe very carefully as the market is set for slingshot downward move in 2 times the recent points upward from the 08212017 low point (chart inserted). This date and level should be seen as a door hinge of sorts for the turning point.

    Along with the breathe process in the RAMSI and Raw MSI readings the market can open its barn door and move towards a MSI ‘sell capitulation levels’, for a further and larger turn towards a bear market.

    9 28 2017 = a 911 date
    9 10 10


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