3 replies to this topic

[NAV]

Market had a streak of something like "65 days without a 1% correction" on SPX, a feat not acheived since 1950 i beleive. This correction was long overdue and healthy. At this point this is nothing more than a ST correction and it should find support in the SPX 2335-40  area. My intermediate term indicators are still up. Will update if that changes.

 

Those who have their intermediate term up will start looking to buy in this general area. If we fall below SPX 2335 and persist below that for a week or two, this could morph into an IT downtrend. But that's speculation at this point. Last couple of months has been by far the easiest money making market in years for the trend traders. When it's too easy for too long, the tough part begins. 

[12SPX]

Actually,,, yesterday was 109 days and if we'd made it past today we’d have surpassed the 110-trading day streak that ended in May 1995.  Next to that if we had beat 112 it would have beat the last record set in June 1985.  Outside of that one you have to go back to 1928 for a 184 day but in todays computer trading that shouldn't even be considered.  The market was due for a pullback and I think reality finally hit yesterday that we need to start seeing some volatility return otherwise we will see a possible crash in the fall.  Hopefully we continue to see volatility with an upward bias.   

[NAV]

Actually,,, yesterday was 109 days and if we'd made it past today we’d have surpassed the 110-trading day streak that ended in May 1995.  Next to that if we had beat 112 it would have beat the last record set in June 1985.  Outside of that one you have to go back to 1928 for a 184 day but in todays computer trading that shouldn't even be considered.  The market was due for a pullback and I think reality finally hit yesterday that we need to start seeing some volatility return otherwise we will see a possible crash in the fall.  Hopefully we continue to see volatility with an upward bias.   

 

Thanks for the correction. I had read this 65 days stats on some website. 110 trading days - Wow thats. incredible !

[alexnewbee]

but BKX disagrees with the above..

Edited by alexnewbee, 22 March 2017 - 10:28 AM.