7 replies to this topic

[Chilidawgz]

Two zero zero zero party over. I was there. The QQQQ was a rocket and the internet was gonna change everything. Blue skies forever. Then, the bottom fell out. Very few saw it coming, be honest, a few did but most did not.

 

Turn the page. 2023. AI will change the world. Tech stocks rule again, To the moon!! The FED is going to slash rates any day, it's almost guaranteed!!

 

Watch the sky!!!!!!!!

 

Naysayers, you say but the banking system is on life support, the FED has created a revolving credit line because their assets are nearly worthless as they bought inventory at zero to 2%. The US debt is skyrocketing. Pffft, the FED will do something. Real inflation is still very high, lies, have you not seen government facts? Earnings have been and continue to be awesome!! Eh, you protest the corporations have been boosting their earnings for years with buybacks which continue.? Irrelevant, earnings are earnings. What now whiner, international realities? Hogwash! We are the greatest nation ever created, beyond the Roman Empire. God shed his grace on thee!

 

I could go on. Be prepared kiddies.

[12SPX]

Totally with you, 2024 is going to be very interesting and I think volatility is going to double but think the start of the year is going to be really interesting being 8 weeks up in a row, bullishness through the roof, call prices screaming higher etc etc etc...  Just saw a chart showing that the 1%ers have now passed the medium class for household wealth as they have done nothing but go up since 1990 whereas middle class has only gone down.  With real inflation, living costs etc going on I think were going to see some interesting things happen, I know even my middle calls friends are telling me they are cashing in these gains lol.....

[Rogerdodger]

What's past is prologue

"What's past is prologue" is a quotation by William Shakespeare from his play The Tempest.

In contemporary use, the phrase stands for the idea that history sets the context for the present.

 

The bull attacks with a fierce upthrust of his horns.

The bear attacks with a powerful slashing downward claw.

 

I think we will see them both. Who will win? Both at times. But the bull has the constant upward advantage of PROFITS...

until he gets too many supporters.

[Chilidawgz]

I subscribe to Right Side of the Chart  https://rightsideofthechart.com/blog/

 

He is primarily a swing trader but scalps and day trades like many do here.

I am a swing trader myself. I have found him to be very accurate on mkt evaluation.

He is a former Financial Adviser and broker.

 

Today he issued a sell on the SPY and QQQ. He is looking short term but expects

a longer bear mkt looking forward.

[Douglas]

Chilidawgz, I assume breaking the red wedge in the hourly chart below is the sell signal your Right side of the Chart guy is referring to, and I assume the green pivot support line is his about 406 seal the deal line.  I must admit breaking that level would be bad.  

 

 

BUT breaking the blue daily rising wedge below is just plain nasty (if it stays broken that is)- and it has a full retrace 345 target on its back.

 

 

Regards,

Douglas

Edited by Douglas, 29 December 2023 - 06:20 PM.

[Chilidawgz]

Douglas, he has been calling for the start of a bear mkt, not immediately but expects one to unfold 2024, a major bear.

[Douglas]

Breaking the big orange rising wedge would do the trick for that bear market, that would be really, really awfully bad.   The world is a fractal.

 

 

Regards,

Douglas

[Chilidawgz]

Edited by Chilidawgz, 30 December 2023 - 08:39 AM.