Ludicrous amounts of shorting in the SH.
Posted 24 May 2016 - 09:58 AM
Mark S Young
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Posted 24 May 2016 - 10:34 AM
IMO a manipulated move just to try to save the market. If it broke 2040 they knew it was trouble. Then again, maybe a few days from now will be a different story.
Posted 24 May 2016 - 11:31 AM
They had to bury this news today... It's not going away though, ever.
DB Credit Rating Downgraded to 2 levels above JUNK
Sure fellas, keep right on buying stocks, until Europe blows up over this...
It won't be Brexit that breaks it, since we all know that ain't happenin' anyway.
Posted 24 May 2016 - 12:48 PM
Ok, so I'm learning Elliott Wave Theory so please pardon what many with more EWT experience might consider stating the obvious. ( It is a nice add to my knowledge base and helps place the indicators I use into the larger overall picture of things).
This swing on the hourly SPX & DJI chart is starting to look like an expanded 3-3-5 flat from 5/19, with the current wave up a possible wave C that exceeds the top of wave A (which topped on the hourly on 5/16). Demarks trend exhaustion signals suggest that wave 3 (of 5 if it's an expanded flat) could be done. (I got similar signals at Wave 1 of this swing) They aren't quite in full alignment yet, but would likely be if we get a wave4 & then 5.
This swing may also turn out to be a running flat, if it prints a truncated 5th in a 3-3-5 pattern. EWT (p48)
Frost & Prechter's Elliott Wave Theory book (EWT) states that flat's always preceed or follow extensions of a strong larger trend. p.46 If so, then that H&S neckline is vunerable the next swing down.
Posted 24 May 2016 - 02:33 PM
Ok, so I'm learning Elliott Wave Theory so please pardon what many with more EWT experience might consider stating the obvious. ( It is a nice add to my knowledge base and helps place the indicators I use into the larger overall picture of things).
This swing on the hourly SPX & DJI chart is starting to look like an expanded 3-3-5 flat from 5/19, with the current wave up a possible wave C that exceeds the top of wave A (which topped on the hourly on 5/16). Demarks trend exhaustion signals suggest that wave 3 (of 5 if it's an expanded flat) could be done. (I got similar signals at Wave 1 of this swing) They aren't quite in full alignment yet, but would likely be if we get a wave4 & then 5.
This swing may also turn out to be a running flat, if it prints a truncated 5th in a 3-3-5 pattern. EWT (p48)
Frost & Prechter's Elliott Wave Theory book (EWT) states that flat's always preceed or follow extensions of a strong larger trend. p.46 If so, then that H&S neckline is vunerable the next swing down.
Unless the SPX just finished a wave-(ii) down and is moving upward impulsively again...
A follow up from my post this morning, where the actual target of SPX 2079 was hit just a moment ago: Chart link: http://postimg.org/image/q4he8fsk9/
Posted 24 May 2016 - 02:39 PM
DB up almost 2.5%
Posted 24 May 2016 - 02:50 PM
this chart sez alot something i told u all to look for many moons ago
http://www.siliconin...c958799b297.jpg
Posted 24 May 2016 - 03:27 PM
Partial from this past weekend's Weekly Breadth Update:
"On a positive note, however, the short term trend of volume plurality (as measured by the volume MCO's) provided bullish divergence structures with Thursday's sell off. This divergence between breadth and volume indicated that we were likely near some sort of price bottom and this helped in Friday being a positive day. With both the NASDAQ and NDX volume MCO's now showing constructive patterns of bottoms above bottoms in place, and with the other volume MCO's that we follow in the chat room supporting complex bottoming action, this would indicate that we've probably seen our orthodox (technical) price bottoms for now, and we should begin the process of building our next internal foundation from where prices will be able to rally later on."
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