Member
Posted 04 June 2020 - 12:52 PM
Armstrong is saying that even the NASDAQ can swing all the way back down to retest the March lows. That would be truly unprecented as most seem to be sold on the V bottom and new bull.
This is an amazing statement that MA made.... "it warns we are going to see much higher volatility into the next two years perhaps more so than anyone has ever witnessed in their life or for the past 300 years."
But maybe he is just confused as Don Wolanchuk just wrote. 
Edited by Russ, 04 June 2020 - 12:54 PM.
Member
Posted 04 June 2020 - 01:06 PM
Well he is saying that if the Nasdaq does not take out all 4 weekly bullish reversals, then it would still retest the low (March).
I don't have the numbers of what all 4 of the weekly bullish reversals are yet for the nasdaq, but I suspect that only 3 have been elected. Will try to get back to you on that one.
He also saying that Nasdaq is targeting June as a reversal point, possibly mid June.
For the DJIA, as long as it remains under 26250, it remains in a weak position.
Russ,
looks like test of support is probably coming
What is support? What levels?Tradesurfer just wrote that Armstrong thinks Nasdaq can go all the way back down to the March lows, I don't know how low it can go, I just think it is going to stall out in mid june.
Member
Posted 04 June 2020 - 02:03 PM
Well he is saying that if the Nasdaq does not take out all 4 weekly bullish reversals, then it would still retest the low (March).
I don't have the numbers of what all 4 of the weekly bullish reversals are yet for the nasdaq, but I suspect that only 3 have been elected. Will try to get back to you on that one.
He also saying that Nasdaq is targeting June as a reversal point, possibly mid June.
For the DJIA, as long as it remains under 26250, it remains in a weak position.
Russ,
looks like test of support is probably coming
What is support? What levels?Tradesurfer just wrote that Armstrong thinks Nasdaq can go all the way back down to the March lows, I don't know how low it can go, I just think it is going to stall out in mid june.
Right where the dow is today....
Member
Posted 04 June 2020 - 04:24 PM
Well if what he is saying is true, then it would seem to make sense to go long volatility and look for a VIX that goes to the 1987 high level of 150 ....
it warns we are going to see much higher volatility into the next two years perhaps more so than anyone has ever witnessed in their life or for the past 300 years."
I want return OF my money more than return ON my money
Posted 05 June 2020 - 12:20 PM
the road ahead is only a complete mess to those who think that way......the road ahead is clear asa bell......watch the sky
being bearish and confused is easy.....anybody can do it
But what about the good people on this fantastic site that are "traders" as the sites name "traders talk" says, and aren't ever bullish or bearish. Think some of us are way more ahead then just watching the sky cause the market went down -35% and we made money there and then made money on the way back up with the +40% rally up. Watching the sky is still down on the year as I see it lol!! You are probably right about new highs but I do agree, volatility is going to kick up in the next few months!
Show me how many day traders are multi-millionaires.. For every one you show me, I will show you 10 who are richer by trading LONG term meaning 3-5 year cycles. Plus long term trading means less money going to brokers and less tax filing crap. And more time to improve your golf game. My 15 years as member of Royal Oaks golf & country club in Vancouver, WA would be impossible as a short term trader. It was absolutely the best time in my life of 80 years, to play unlimited golf at a high-class golf club.
Edited by pdx5, 05 June 2020 - 12:24 PM.
Member
Posted 05 June 2020 - 12:39 PM
Well guys is it really possible ? Armstrong totally drops the ball and is 100% wrong on a March retest ??? He seems extremely bearish and yet we see markets shooting for February highs and an election coming up in November which could be the greatest of all pump jobs in history.
If we see DJIA, SOX, Russell and SPX all trading at lifetime new all time highs one has to wonder if we will skyrocket north into the election.
Member
Posted 05 June 2020 - 12:48 PM
Well guys is it really possible ? Armstrong totally drops the ball and is 100% wrong on a March retest ??? He seems extremely bearish and yet we see markets shooting for February highs and an election coming up in November which could be the greatest of all pump jobs in history.
If we see DJIA, SOX, Russell and SPX all trading at lifetime new all time highs one has to wonder if we will skyrocket north into the election.
I'd say if you claim to be running your market software on the world's fastest, most sophisticated computer while you're visibly running on it on a DOS emulator (DOSBox) there's something suspicious going on. Caveat emptor.
https://armstrongecm...r-computer.html
https://armstrongecm...search?q=dosbox
Member
Posted 05 June 2020 - 01:53 PM
the road ahead is only a complete mess to those who think that way......the road ahead is clear asa bell......watch the sky
being bearish and confused is easy.....anybody can do it
But what about the good people on this fantastic site that are "traders" as the sites name "traders talk" says, and aren't ever bullish or bearish. Think some of us are way more ahead then just watching the sky cause the market went down -35% and we made money there and then made money on the way back up with the +40% rally up. Watching the sky is still down on the year as I see it lol!! You are probably right about new highs but I do agree, volatility is going to kick up in the next few months!
Show me how many day traders are multi-millionaires.. For every one you show me, I will show you 10 who are richer by trading LONG term meaning 3-5 year cycles. Plus long term trading means less money going to brokers and less tax filing crap. And more time to improve your golf game. My 15 years as member of Royal Oaks golf & country club in Vancouver, WA would be impossible as a short term trader. It was absolutely the best time in my life of 80 years, to play unlimited golf at a high-class golf club.
Think your missing my point! First off my main way of trading for +35 years is selling option premium but I do day trading for fun as its so easy now. I'm pretty sure there are lots of guys on here that have made money. Anyhow my point is no one on here should start attacking or making comments because in the past two months the markets have had huge swings both ways so who's really right then. The point of this site is "talk" not come down on someones opinion about whats going on. Thats why I like to joke about a lot of stuff on here instead cause we dont really know whats going on anyhow!
