17 replies to this topic

[dTraderB]

Another great article from TOM with ART CASHEN'S RECOLLECTION OF THE 1987 CRASH

https://www.mcoscill..._and_fishhooks/

[dTraderB]

"....The granddaddy of them all was the fishhook structure that formed in late September 1987, featured in the chart above. When it rolled over again, what followed was the famous crash of October 19, 1987. Fishhooks don't always lead to such big calamities, but the potential energy is there, and that is why I get excited about them.

As for the one I was sharing back on Sep. 7, here is how that one turned out:

SP500 McClellan Price Oscillator fishhook

We did not see a crash after this August 2023 fishhook, but it did have the power to produce a lower low for the SP500. And now the Price Oscillator has turned back up from a fairly low level, signaling that the bulls have the ball and the potential to run with it."

https://www.mcoscill..._and_fishhooks/

Edited by dTraderB, 18 October 2023 - 06:48 PM.

[redfoliage2]

Let's see what Powell will say today.  If he does not sound different from what he said at the last meeting we are likely to see a relief rally in the afternoon.  We should know in less than one hour  .................  

Edited by redfoliage2, 19 October 2023 - 10:19 AM.

[redfoliage2]

With so much bearishness out there let's see if the OpEx game to be played out as usual: it's time to flush out puts holders in the afternoon today ...........................

[redfoliage2]

But it's interesting to find out if it will crash or not since the big names expecting it .....................

Edited by redfoliage2, 19 October 2023 - 10:53 AM.

[redfoliage2]

With so much bearishness out there let's see if the OpEx game to be played out as usual: it's time to flush out puts holders in the afternoon today ...........................

 it looks the process has started.  It's about their $trillions game and the Fed watches it closely ...............

Edited by redfoliage2, 19 October 2023 - 11:33 AM.

[redfoliage2]

 

With so much bearishness out there let's see if the OpEx game to be played out as usual: it's time to flush out puts holders in the afternoon today ...........................

 it looks the process has started.  It's about their $trillions game and the Fed watches it closely ...............

 

I see the process likely to go till the close, maybe also tomorrow since there has been too much bearishness .................

Edited by redfoliage2, 19 October 2023 - 12:17 PM.

[redfoliage2]

 I don't know what Powell just said but the market looks relieved and happy with it.........................

Edited by redfoliage2, 19 October 2023 - 12:28 PM.

[redfoliage2]

Well, Powell said today the Fed may hold the rate steady at the next meeting:

 

Fed Chair Powell hints in speech that rates could hold steady (usatoday.com)

[redfoliage2]

Deleted

Edited by redfoliage2, 19 October 2023 - 01:46 PM.