I have been posting about the SPX 2500 level as the bull-bear demarcation line for long term, for quite a while here. Finally, today we got an absolute confirmation of that, with a weekly close below 2500. Now how much time the first leg of the bear takes, will determine the length of the bear market. If we end in a quick capitulation over the next week, i expect a 9-12 months bear market lasting into end of 2019. Good trading and Happy holidays !
BEAR MARKET confirmation
Started by
NAV
, Dec 21 2018 11:11 PM
7 replies to this topic
#3
MDurkin
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Posted 21 December 2018 - 11:24 PM
Thanks Nav and have a Happy Holiday.
#4
traderx
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Posted 22 December 2018 - 08:46 AM
what is indicator in the chart? weekly spy 500 what did it go below?
#5
NAV
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Posted 22 December 2018 - 12:24 PM
what is indicator in the chart? weekly spy 500 what did it go below?
It's a 20 period weekly ATR channel.
#6
leverage4
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Posted 22 December 2018 - 04:04 PM
Thanks, NAV. You are the epitome of the rock solid trader. I'm sure you have emotions about the market, but you never waver from your disciplined approach. I'm trying to emulate that, but #!&%, it's tough.
Lev
Edited by leverage4, 22 December 2018 - 04:05 PM.
#7
slupert
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Posted 22 December 2018 - 07:26 PM
I have been posting about the SPX 2500 level as the bull-bear demarcation line for long term, for quite a while here. Finally, today we got an absolute confirmation of that, with a weekly close below 2500. Now how much time the first leg of the bear takes, will determine the length of the bear market. If we end in a quick capitulation over the next week, i expect a 9-12 months bear market lasting into end of 2019. Good trading and Happy holidays !
I need a little help please. Why is 2500 the bull-bear line. TIA,
#8
NAV
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Posted 23 December 2018 - 09:41 PM
I have been posting about the SPX 2500 level as the bull-bear demarcation line for long term, for quite a while here. Finally, today we got an absolute confirmation of that, with a weekly close below 2500. Now how much time the first leg of the bear takes, will determine the length of the bear market. If we end in a quick capitulation over the next week, i expect a 9-12 months bear market lasting into end of 2019. Good trading and Happy holidays !
I need a little help please. Why is 2500 the bull-bear line. TIA,
The 20 period weekly ATR channel (which has been at SPX 2500 since the beginning of this year) was never violated on a closing basis since 2009. It happened this friday. We don't need any expert opinion now. The price itself has conveyed the message.
Edited by NAV, 23 December 2018 - 09:51 PM.
