6 replies to this topic

[viccarter]

Daily, that is.  You can't trade this unless you are trading on a longer time frame.

 

Big Picture: I have a SELL on this market on a long term basis. (monthly)

 

I think we see SPX 1800 and lower.  Same forecast as I had at the 1st of the year.

 

I THINK WE ARE GONNA GET A MAJOR RED MONTHLY CANDLE WITHIN THE NEXT 3 MONTHS.

 

It could be May, June, July or all of the above.  I donno when it starts, maybe it's already started.

 

Last time I was bearish in an action area was April 26/27 area shorts.  I remained bearish for about a week, but after that I haven't been able to draw a bead on this thing in order to initiate.

 

I'm taking a look at those SPX weekly candles.  I've seen that setup on shorter timeframes.  I've seen it go CHOP, CHOP, CHOP down a little candle after candle.  Every candle looks like a buy, but its CHOP, CHOP, CHOP downward.  Very hard to trade these.  Must have a strong hand.

 

Looking for a clue to be able to get short for the big move, but I don't have the answers right now.

[gannman]

just looking at the charts looks like various indices topped between mid april and the end of april the qqq being the first to top 

 

to me i think the selling is going to accelerate now as we are going to enter into a subwave iii down just my take

[alexnewbee]

 

is this already well enough propagated?

[Iblayz]

Based on price action, I don't think that you are alone. Market threw me a curve yesterday. I expected yesterday to be up and down into Thursday. I STILL have the minimum downside target of 2036.10 cash. But, I also have a minimum upside target of 2073.10. I believe both will be met. Today was reminding me of December 29th. I had an upside target of 2081.25 and had posted that. But I expected the 29th to be down.....not up....with the target coming a few days later. Instead they took it out (2081.25 with a few upside cents to spare) and then just pressed straight down. I was thinking overnight that today could be the same in reverse IF they took out the 2036.10 sometime today. But so far.....no deal. Should simply remind us all.......trade with a pre-conceived notion that the market must do this or that.........and WAY too many times it will beat you to death.

[SemiBizz]

Monday we had STUPID RALLY - on what Buffett and Soros did MONTHS AGO... and it was roundly rejected yesterday and on stronger volume...

 

Today we have SON OF STUPID Rally, oh and that's just because they can...

 

I mean F'eds in the middle of the week, OPEX on Friday, Full Moon Swoon...

 

Everything you need to run it up and down and up and down....

[dougie]

I think we see new highs before any down below 1800

[viccarter]

If Attila Demiray ever had a word of wisdom it was this:

 

"The Market will do the most obvious thing, but do it in a way that fools the majority" 

 

I don't know if that was the exact quote, but it's pretty close.  Also don't know if it's his or he stole it from someone else.  But he is where I heard it, so I'm crediting him.

 

Very wise words whomever said them.