10 replies to this topic

[kssmibotm]

No, this is not inside information from Bberg.  I am looking at a possible decline in the SPX to a 161.8% Fib extension.  Take a look at the chart on the left.  The Brexit low at point D closed at an exact 161.8% extension of the A-B-C pattern labeled in the chart.  Now look at the current A-B-C setup in the chart on the right.  If today's high at 2180 is point C, that projects a 120 point decline to the 161.8% extension at 2060 (point D).  That target also would test the lower trend line.

 

Tomorrow's action is critical.  If the SPX rallies and closes above 2190, the projection is invalidated.  But, if the SPX declines below Thursday's low, I am going short via SPXU.

 

[lawdog]

tomorrow's action is not critical. good grief.

[Alton]

Looking at seasonal data I can see a basis for your sense of the intermediate- term direction.  In particular the 4-year cycle is weak over the coming period.  On the other hand, I keep hearing a voice saying, "This time it's different."  And I don't know if it is or not.
 

[alexnewbee]

and target date is 28th of Sept. for above to matherialize we should gap down hard and run.

We will see soon.

[clueless]

After 9 years of the Fed pumping stocks to ridiculous, 120 sp points would barely register a blip on a monthly chart. so no, does not get my attention. There is a football field sized gap january 2 2013. If the market undid the crooked stock buybacks because it finally acknowledged that these mega corps are actually dead broke and can't pay their dividends no matter how many thousands they lay off, then yeah, that would get my attention. 

[alexnewbee]

in fact Nasdaq chart reminds three peaks and doomend house pattern. Soon we will know if it materialize..

[kssmibotm]

tomorrow's action is not critical. good grief.

 

Good grief???  You really need to stop binge watching old episodes of Leave It To Beaver.

[kssmibotm]

After 9 years of the Fed pumping stocks to ridiculous, 120 sp points would barely register a blip on a monthly chart. so no, does not get my attention. There is a football field sized gap january 2 2013. If the market undid the crooked stock buybacks because it finally acknowledged that these mega corps are actually dead broke and can't pay their dividends no matter how many thousands they lay off, then yeah, that would get my attention. 

 

Yes, I know 120 pts is not much in the grand scheme of things.  It all depends on your time frame.

[brucekeller]

 

tomorrow's action is not critical. good grief.

 

Good grief???  You really need to stop binge watching old episodes of Leave It To Beaver.

 

I thought that was from Charlie Brown / Peanuts.

[OEXCHAOS]

 

After 9 years of the Fed pumping stocks to ridiculous, 120 sp points would barely register a blip on a monthly chart. so no, does not get my attention. There is a football field sized gap january 2 2013. If the market undid the crooked stock buybacks because it finally acknowledged that these mega corps are actually dead broke and can't pay their dividends no matter how many thousands they lay off, then yeah, that would get my attention. 

 

Yes, I know 120 pts is not much in the grand scheme of things.  It all depends on your time frame.

 

 

In fact, leveraged, that's most of a money managers performance for a year (if he's lucky, these days).

 

M