12 replies to this topic

[K Wave]

The trajectory of the down move in the S&P 500 equal weighted is pretty stunning when compared to 2008.  I think it's even more bearish than 2008 if that is even possible.

 

After 3rd drive top, it certainly is possible (NYA shows this a lot better than SPX)

 

This thing could be relentless now that SPX 1867 has been busted for 2nd time....

 

I think a lot of people have been so conditioned by the buy the dips mentality, that they will be very surprised now that major support has been tested and broken, by how many monthly red candles in a row could print here....

 

The last thing that is needed now to pound the final nail in the coffin is an INDU daily close under 15,940...we dipped under today, but managed to climb back above by the close....bulls may not be so lucky tomorrow, and reasonable chance that it gaps 15,940  (and the 900 day MA) and never looks back....

 

USD JPY now in the free fall zone...let's see if it gathers some steam downside tonight after the weak back kiss attempt at the HUGE 116 floor this afternoon....IF it does, then full scale crash action much more likely over the coming days...

Edited by K Wave, 08 February 2016 - 09:19 PM.

[K Wave]

Yen flexing it's overnight muscles....

[Charvo]

Yes.  I've been hearing folks talking about the negative divergence in the NYA A/D line for quite some time.  NYA looks bad.  There's some stuff happening really quick now.  I think markets move ultra-quick now due to computers doing most of the trading.  I think it's safe to just sit out most of this unless one is particularly nimble because every single big upside move in the yen means potential BOJ intervention which juices the markets at least for a few days.

 

 

The trajectory of the down move in the S&P 500 equal weighted is pretty stunning when compared to 2008.  I think it's even more bearish than 2008 if that is even possible.

 

After 3rd drive top, it certainly is possible (NYA shows this a lot better than SPX)

 

This thing could be relentless now that SPX 1867 has been busted for 2nd time....

 

I think a lot of people have been so conditioned by the buy the dips mentality, that they will be very surprised now that major support has been tested and broken, by how many monthly red candles in a row could print here....

 

The last thing that is needed now to pound the final nail in the coffin is an INDU daily close under 15,940...we dipped under today, but managed to climb back above by the close....bulls may not be so lucky tomorrow, and reasonable chance that it gaps 15,940  (and the 900 day MA) and never looks back....

 

USD JPY now in the free fall zone...let's see if it gathers some steam downside tonight after the weak back kiss attempt at the HUGE 116 floor this afternoon....IF it does, then full scale crash action much more likely over the coming days...

 

Edited by Charvo, 08 February 2016 - 10:36 PM.