17 replies to this topic

[Rogerdodger]

Seems about right:

Mike Burk 

 

"The market is overbought.
There are numerous non confirmations by the breadth indicators.
NY NH failed to confirm the new SPX all time high by a wide margin.
The rapid rise of the blue chip indices to all time highs is typical of a final cycle top.  
There is probably a little left to the upside, but the end is near."

 

I think it was Gene Inger who used to observe that many traders "Short into the hole" and get burned.

 

If we are topping, it could be a grinding process; a fight between bulls and bears..

Watch the sentiment for extremes, either way.

 

Just in time for "The Great Reset"  Armstrong's 2022 depression. 

"Destroying the economies & Universal Income & Getting rid of all world debt ."

(Selling a book?)

 

Nominal 7 year topping could last for weeks, if not months.

(As seen in this NYA MONTHLY Chart.)

 

Edited by Rogerdodger, 23 October 2021 - 12:28 PM.

[da_cheif]

nose bleeds and fear of heights seems endemic eh?

 

on another note

 

https://www.zerohedg...l-cords-severed

[Rogerdodger]

..

nose bleeds and fear of heights seems endemic eh?

 

Wasn't that your same posts from both 2007 and 2015? 

 

he he

 

eh

Edited by Rogerdodger, 23 October 2021 - 02:59 PM.

[LMF]

Mark may been the one that said it one day, bonds are technically in a bear market. Slight understatement. The $USB 200 day MA topped out back in December 2020 which is when I started measuring it. Some day in the future we may see an end to it. In the meantime there aint no bear market in stocks.

[K Wave]

Watch the Mega Caps....................

 

3 of them broke HARD of Friday...AMZN GOOGL FB.

 

The 3 to watch now are AAPL TSLA and MSFT

 

If those 3 that held up on Friday do not drag the other 3 out of the hole as the Dogder has noted as a possibility, market is likely in pre-crash setup.

 

Next week could have some very important action.

 

If the other Big 3 start to join in with the already getting whacked ones, could get ugly in a hurry if the Early October lows start to get taken out by the AMZN and GOOGL (FB essentially already there)

 

Alternatively, if the they do get dragged out of the hole, then possible ramp job could last until year end.

 

But seeing A LOT of ugly charts starting to show up out there...so if those Mega Caps start to falter, plan accordingly....

Edited by K Wave, 24 October 2021 - 10:59 AM.

[K Wave]

Watching the "Big 5" FAANG index this next week for possible huge clues....

 

Back below that breakout line, and things could go south in a BIG hurry....

 

But if it holds, and bulls can take it out the top, then very likely still some life left....

 

[K Wave]

TSLA looking to get out of the gate strong today....if it does not immediately reverse, the bulls may lift it off from that pivot zone at Friday close...

Edited by K Wave, 25 October 2021 - 07:29 AM.

[K Wave]

Thus far, even with TSLA up big...Naz futures not able to accomplish much....

[K Wave]

Big 5 Fang...Ruhro???

 

If this sticks......

 

[K Wave]

ES still holding short term support...until that broken...jump ball still in the air here...