6 replies to this topic

[andr99]

today is the 10th of September, for reversals I pay attention to the start of the month or mid month. We're now close to mid month, so each day now is good for an upside acceleration marking the end of 

the IT correction 

[OEXCHAOS]

We have an election coming up, and I have to believe that the PTB don't want a disruptor in power. Therefore, I think it's extremely likely that there will be a nice rally into the election zone and extremely unlikely that we'll see very much more (very possibly some, of course) weakness prior. The closer we get to October the more likely we'll see strength, I think.

[andr99]

Yes, but it might be the last hurrah, because early next year I think we top out. I have taken a look at the weekly macd and I'm terrified although to me the start of a last leg up 

is close. I wouldn't like to be taken in a repetition of what happened in 2000 when the stock market started to tumble after topping in February- March 

[andr99]

spx 6100 in 4-5 months and I'm out at light speed, watching what happens. 

[andr99]

6100 spx and we are done with the bullish market in my opinion 

 

https://www.tradingv...er-the-1D-MA50/

 

he also is waiting for 6000, but I don't know what he thinks will happen after. I'm quite confident we get there, but also quite confident

 

we are dancing on a volcano.   

Edited by andr99, 11 September 2024 - 09:34 AM.

[OEXCHAOS]

I think a recession is "baked in the cake". It's nearly a certainty, given Fed policy vs. T-Bills, if Tom McClellan is right. Also, IIRC, a serious attempt at deficit reduction/debt reduction is likely to have a negative effect on the economy. The market will begin the discount that, I expect, but likely not before November.

[K Wave]

today is the 10th of September, for reversals I pay attention to the start of the month or mid month. We're now close to mid month, so each day now is good for an upside acceleration marking the end of 

the IT correction 

 

More than a little bit likely THAT candle is telling us something...will people listen is the question?