8 replies to this topic

[OEXCHAOS]

Some of our best indicators are suggesting that we're near some sort of low. I'm going to wait until I see tonight's numbers but an aggressive speculator might nibble a bit here. My personal (not professional) opinion is that the market is going to use this as a test of Yellen. They might be able to beat it down again tomorrow, but she's going to get back in control, I suspect. If not, this will progress lower quickly. Mark

[SemiBizz]

GS accelerated to the downside here, and it's at 160, that's approaching 12% decline, we're leaving "correction" zone toward bear market territory... while the rest of the market continues to 10% decline level. GS chart says bear market is a strong possibility, I guess we'll know in a few more days. Employment Report will be a disaster.

[blustar]

My read is tomorrow is the ST bottom near SPX 1733.45. A huge rally should ensue, especially into Friday this week. I have targets as high as 1813/14 general area.

[cycletimer]

My read is tomorrow is the ST bottom near SPX 1733.45. A huge rally should ensue, especially into Friday this week. I have targets as high as 1813/14 general area.

Allow me to chime in here. I also believe we are at a ST low right here. In fact, a 200-300 point rally from today's closing levels would not be out of the question, keep in mind , that'll increase volatility even more, even with a huge rally. Volatility is here to stay after being non existent for so long. To put my $ where my mouth is, Five min. before today's close I purchased a large number (for my trading size) of SPY Feb22, 178 calls. This is a risky, speculative trade and I didn't buy at the exact bottom, I paid 1.07 a piece and they closed at 1.01. Anyway, I am targeting an 80-100% trade this week.

[diogenes227]

Fear and Greed Index with Naz Comp. Yup, just about there.

[blustar]

My read is tomorrow is the ST bottom near SPX 1733.45. A huge rally should ensue, especially into Friday this week. I have targets as high as 1813/14 general area.

Allow me to chime in here. I also believe we are at a ST low right here. In fact, a 200-300 point rally from today's closing levels would not be out of the question, keep in mind , that'll increase volatility even more, even with a huge rally. Volatility is here to stay after being non existent for so long. To put my $ where my mouth is, Five min. before today's close I purchased a large number (for my trading size) of SPY Feb22, 178 calls. This is a risky, speculative trade and I didn't buy at the exact bottom, I paid 1.07 a piece and they closed at 1.01. Anyway, I am targeting an 80-100% trade this week.

I'm waiting til Tuesday mid session near SPY 173.30 and will buy this week's 178.00 calls. I see SPY 180.50 by Friday and up into the mid 188.00's by OPEX. Next week looks sideways. There is a bisector low on the full moon next week, and it is 7 TD's from tomorrow, typical low before the next impulse up. Thank goodness we have finally arrived on the ST downside. I hate corrective waves. Time to get the bull going again!!!

[CLK]

Mike Burke has seasonality bottoming Thur. or Friday. I think Tuesday is too soon. TICK is only at -334, TRIN is getting up there though. Other than just taking a mean reversion chance, I have no way of knowing this is the bottom or not.

[Charvo]

Unless the VIX trades down significantly in the next few sessions, the bull market going back to 2011 is threatened. VIX is basically heading into backwardation which is bullish for VIX and bearish for the markets.

http://stockcharts.c...91475132871.png

[pisces]

Mike Burke has seasonality bottoming Thur. or Friday. I think Tuesday is too soon. TICK is only at -334, TRIN is getting up there though. Other than just taking a mean reversion chance, I have no way of knowing this is the bottom or not.

I have several reasons to say that the selling is going to intensify the next two days.

btw in another thread this AM I said gold and silver went on a buy.silver $25.00 GOLD ~1400.