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S&P broke .786 long term fibonacci retracement = 3 of 3 and Verified Bull Market
Started by
gemx
, Jul 18 2023 01:19 AM
4 replies to this topic
#1
gemx
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#2
OEXCHAOS
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Mark S. Young
Posted 18 July 2023 - 11:41 AM
I don't want to be too critical here, but by my objective measures, we have been in a "Bull Market Condition" since the very beginning of April. Moreover, I've been saying (in the newsletter) that we've been trading like a Bull since last November, IIRC.
Now, the latter comes from my ample experience and nuanced "feel" for the market (derived from being too Bearish, too soon over the years), but the former is fairly straight forward and rudimentary. It would seem that using that fib retracement is mighty late to the party.
Of course, I suppose it might be useful to keep one from being tempted to take a big short here...
M
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#3
slupert
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Posted 18 July 2023 - 12:43 PM
I don't want to be too critical here, but by my objective measures, we have been in a "Bull Market Condition" since the very beginning of April. Moreover, I've been saying (in the newsletter) that we've been trading like a Bull since last November, IIRC.
Now, the latter comes from my ample experience and nuanced "feel" for the market (derived from being too Bearish, too soon over the years), but the former is fairly straight forward and rudimentary. It would seem that using that fib retracement is mighty late to the party.
Of course, I suppose it might be useful to keep one from being tempted to take a big short here...
M
Even Dow Theoristsare already partying harty.
#4
gemx
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#5
da_cheif
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Posted 22 July 2023 - 01:32 PM
I don't want to be too critical here, but by my objective measures, we have been in a "Bull Market Condition" since the very beginning of April. Moreover, I've been saying (in the newsletter) that we've been trading like a Bull since last November, IIRC.
Now, the latter comes from my ample experience and nuanced "feel" for the market (derived from being too Bearish, too soon over the years), but the former is fairly straight forward and rudimentary. It would seem that using that fib retracement is mighty late to the party.
Of course, I suppose it might be useful to keep one from being tempted to take a big short here...
M
since 666 eh 14 years
