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it looks like 5 waves down off of the top to me


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#1 gannman

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Posted 22 June 2020 - 08:40 AM

we will see  could have bearish longer term implications 

 

it is hard to tell so early in a decline 


feeling mellow with the yellow metal


#2 gismeu

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Posted 22 June 2020 - 08:46 AM

we will see  could have bearish longer term implications 

 

it is hard to tell so early in a decline 

What instrument and time frame please?

 

gis


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#3 pdx5

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Posted 22 June 2020 - 09:04 AM

Most important advice I learned the hard way is.....NEVER FIGHT THE FED!


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#4 K Wave

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Posted 22 June 2020 - 09:07 AM

It all about Dow 26K most likely...if bulls do not step on the gas after the down open and take it out today, then bears could start to gain some traction....

 

Trannies still leading down....but BIG 5 still holding up just fine...something likely to give...soon....


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#5 K Wave

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Posted 22 June 2020 - 09:09 AM

SOX coming up to back test of the key 1770 area...

 

IF it fails to reclaim 1770, then that would most likely spot for any ugliness to begin in earnest


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#6 K Wave

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Posted 22 June 2020 - 09:11 AM

wrong thread..


Edited by K Wave, 22 June 2020 - 09:12 AM.

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#7 gannman

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Posted 22 June 2020 - 09:16 AM

i am looking at the financials if we take out the lows in the financials we are in trouble imo 

 

we will see i dont know


feeling mellow with the yellow metal


#8 K Wave

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Posted 22 June 2020 - 09:27 AM

Next 10 points on SOX could decide it all.

 

Back above 1980, and engulfing stick save would be the mostly likely outcome.

 

But back below 1960, and would likely signal bulls have have turned it over for at least a while...


Edited by K Wave, 22 June 2020 - 09:32 AM.

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#9 K Wave

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Posted 22 June 2020 - 10:00 AM

Just a blood bath in the Davey Daytrader AirShip portfolio since the Tri Star top...

 

Cruise lines have lost a third of their value...Airlines in the 25-35% range


Edited by K Wave, 22 June 2020 - 10:00 AM.

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#10 LMF

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Posted 22 June 2020 - 10:22 AM

From here QQQ below the Feb high at 236.93 is perhaps the only good sign of even a short term high in place. Theres no top going in place based on the SPX AD line.