Historically, whenever we see crash on this board, whatever weakness, if any, is about to end
Yeah, I wish he hadn't put the C-word in the heading because otherwise there was a good chance it could happen thanks to the red dot at the end of the green squiggle in the middle of the chart below and a break through bottom of the blue box at about 232 on the SPY. That could get a real clear downtrend going and if anyone has noticed NYSE margin debt lately, margin calls might not be far behind. Below 232, it could be at 229 in a blink, 223 in a wink and 213 in a nod (a November deja vu) but now with this crash question it probably won't happen.
At least not just yet.
Good luck and good trading.
Somebody's always got to use the word. May be long and hoping......who knows. I was looking at a multi-month chart of the SPX cash on my TOS platform. I like those charts because I can snap trendlines to precise tops and bottoms of selected dates. If there is a way to do that on Stockcharts, I haven't figured it out yet. Anyway, the way it looks to me.....if the SPX loses that 3/27 low on a closing basis (or there is another sign given that it will) the next support line on my chart is at the 2302 area as of today with a slight rise. Close below that and the next line was at the 2244 area today with a somewhat steeper rise. It will be above 2250 in three or four days. We both know that the odds of getting to the lower line soon are somewhat slim. After all, these guys are trying to play a bottom on just about every ten minute bar. NYAD made two or three new all time highs over the last several days. But, unless they can turn the volume component around soon......it don't look good. (And by the way, the post didn't make it.......and shouldn't have as long as it did.)
Edited by Iblayz, 13 April 2017 - 09:24 PM.