Will..it comes up for me..on “your” site. I just did it. Let me try posting it again on THIS post. If it still doesn’t come up for you..go back and look at the market action between about Aug 2007 and Mar 2008..and you’ll see what I’m talking about.
We’ll find out soon..but obviously markets can and do just take off and run again and again for years to multiple new ATH’s..confusing the majority that just don’t believe in it. It’s how and why markets climb walls of worry for so long with so few on board. But,and it’s a big ‘BUT’… if today is truly the last “trick or treat” on the bears..then we’re going to need to sell off hard next week and not come back up here to the Dow 17,000’s or north of SPX 2000 for a long,long time.
I don’t believe much in time and chart correlation comparisons of now vs the past…but for those that do like that sort of thing…the situation going on right now…with a new and 2nd ATH..high just a bit higher than the previous high 2 months ago at SPX 2011.36…similar action was happening pretty much the same way in Oct of 2007..right before the market really started getting serious about heading lower into Mar 2009.A big peak in the 1575 area…a big drop to 1425..and then one final big rally peak just a little higher in Oct of 2007.
Interesting to look at the late 2007 /early 2008 chart I’ll post and compare the action in Oct of 2007 and this Oct of 2014.
I never thought we’d see it so soon though. I was expecting a move down to the mid 1700’s first and then a ramp up to this print in 2015 sometime. Is this the end of the bull market? Does this make a Primary Wave 5 up or is it just an extension of Primary Wave 3 up and P4 down is yet to come?
Amazing… totally straight up! I guess we’ll hit the SPY FP of 202.45 next Monday or Tuesday. By then there won’t be a bear left alive. That should be about 2024.50 SPX, but it’s common to go a little past any FP level from what I’ve noticed in the past. So at least the 202.45 is to be expected and possibly as much as a point higher?
I put the range in as 2024-2030 SPX. It should simply be based on how many bears’ stops are setting above the current 2019 high that need to be hit before SkyNet turns back down the other directions and goes after the bulls’ stops. While any FP isn’t always a “turning point” but is at least a target that will be hit this FP area should be both.
Why? Because everyone will become bulls then and without the bears to squeeze the market won’t have any choice but to fall back some. Whether it’s some powerful crash wave to the mid 1700’s or not is unknown? But a nice pullback after the elections is very likely in my opinion.
They juiced the Dow today but nothing else was really strong. Transports, $hgx (housing), and jnk were all down today. Toronto Stock Exchange as well. Apple 100 and the Nasdaq both putting in a topping form similar to the secondary top in double ninen. Oh Apple down as well today. SBUX getting hammered in after hours, one of the stocks I watch like a hawk.
New lows skyrocketed today as well on this momentous up day. Definitely put in another HO, but there have already been a gazillion triggered since September but this is the first one seen on this rebound rally; there was a close/ possible one 2 days ago but today is a no-doubter.
We are getting close to a pullback I think but it seems they want to hold the market up until after the elections next Tuesday so I wouldn’t take any big shorts yet. Just might dip my toe in short but not much. This chart shows we are in the “sell zone” but that doesn’t mean we can’t hang out there for awhile. http://stockcharts.com/h-sc/ui?s=!GT20SPX&p=D&b=3&g=1&id=p18930922334&a=349546011
As expected, the indices basically put in a hanging man on this special 85 year anniversary. Yellen speaks early tomorrow morning which is usually uber bullish but the analogs indicated otherwise. 60 min RSI were a bit overbought and extended this morning though so another divergence is needed? Next step is to see a drop below the 20 day emas.
Now let’s see if KC can win the World Series 29 years (1985) after their last playoff appearance (a 7 game World Series victory over the STL). The team playing at home (KC) in the 7 th game of the WS is 7-0 the last 7 occurrences…..Wow an involuntary 777 numey reference…..Of course, the 77 reference was made on the 4 letter earlier today. Something going on with the Show Me state as well.
Past stat’s say that Wednesday’s rarely put in a high or low for the week… therefore we should have a slightly higher high Thursday before rolling over and heading south toward that 1900 area. This could take another week if they take the stairs down (as opposed to taking the rocket ship up).
Will..it comes up for me..on “your” site. I just did it. Let me try posting it again on THIS post. If it still doesn’t come up for you..go back and look at the market action between about Aug 2007 and Mar 2008..and you’ll see what I’m talking about.
http://d.stockcharts.com/img/articles/2011/07/6a0105370026df970c014e89d53b0c970d-800wi
That link is bad…
We’ll find out soon..but obviously markets can and do just take off and run again and again for years to multiple new ATH’s..confusing the majority that just don’t believe in it. It’s how and why markets climb walls of worry for so long with so few on board. But,and it’s a big ‘BUT’… if today is truly the last “trick or treat” on the bears..then we’re going to need to sell off hard next week and not come back up here to the Dow 17,000’s or north of SPX 2000 for a long,long time.
I don’t believe much in time and chart correlation comparisons of now vs the past…but for those that do like that sort of thing…the situation going on right now…with a new and 2nd ATH..high just a bit higher than the previous high 2 months ago at SPX 2011.36…similar action was happening pretty much the same way in Oct of 2007..right before the market really started getting serious about heading lower into Mar 2009.A big peak in the 1575 area…a big drop to 1425..and then one final big rally peak just a little higher in Oct of 2007.
Interesting to look at the late 2007 /early 2008 chart I’ll post and compare the action in Oct of 2007 and this Oct of 2014.
http://d.stockcharts.com/img/articles/2011/07/6a0105370026df970c014e89d53b0c970d-800wi
Here’s the FP of the SPY where the insiders were told the market was going to http://reddragonleo.com/wp-content/uploads/SPY-FP-202.45-on-09-19-2014.png
I never thought we’d see it so soon though. I was expecting a move down to the mid 1700’s first and then a ramp up to this print in 2015 sometime. Is this the end of the bull market? Does this make a Primary Wave 5 up or is it just an extension of Primary Wave 3 up and P4 down is yet to come?
Amazing… totally straight up! I guess we’ll hit the SPY FP of 202.45 next Monday or Tuesday. By then there won’t be a bear left alive. That should be about 2024.50 SPX, but it’s common to go a little past any FP level from what I’ve noticed in the past. So at least the 202.45 is to be expected and possibly as much as a point higher?
I put the range in as 2024-2030 SPX. It should simply be based on how many bears’ stops are setting above the current 2019 high that need to be hit before SkyNet turns back down the other directions and goes after the bulls’ stops. While any FP isn’t always a “turning point” but is at least a target that will be hit this FP area should be both.
Why? Because everyone will become bulls then and without the bears to squeeze the market won’t have any choice but to fall back some. Whether it’s some powerful crash wave to the mid 1700’s or not is unknown? But a nice pullback after the elections is very likely in my opinion.
GOLD Month and Weekly chart update: http://niftychartsandpatterns.blogspot.in/2014/10/gold-month-and-weekly-chart-update.html
They juiced the Dow today but nothing else was really strong. Transports, $hgx (housing), and jnk were all down today. Toronto Stock Exchange as well. Apple 100 and the Nasdaq both putting in a topping form similar to the secondary top in double ninen. Oh Apple down as well today. SBUX getting hammered in after hours, one of the stocks I watch like a hawk.
New lows skyrocketed today as well on this momentous up day. Definitely put in another HO, but there have already been a gazillion triggered since September but this is the first one seen on this rebound rally; there was a close/ possible one 2 days ago but today is a no-doubter.
We are getting close to a pullback I think but it seems they want to hold the market up until after the elections next Tuesday so I wouldn’t take any big shorts yet. Just might dip my toe in short but not much. This chart shows we are in the “sell zone” but that doesn’t mean we can’t hang out there for awhile. http://stockcharts.com/h-sc/ui?s=!GT20SPX&p=D&b=3&g=1&id=p18930922334&a=349546011
As expected, the indices basically put in a hanging man on this special 85 year anniversary. Yellen speaks early tomorrow morning which is usually uber bullish but the analogs indicated otherwise. 60 min RSI were a bit overbought and extended this morning though so another divergence is needed? Next step is to see a drop below the 20 day emas.
Now let’s see if KC can win the World Series 29 years (1985) after their last playoff appearance (a 7 game World Series victory over the STL). The team playing at home (KC) in the 7 th game of the WS is 7-0 the last 7 occurrences…..Wow an involuntary 777 numey reference…..Of course, the 77 reference was made on the 4 letter earlier today. Something going on with the Show Me state as well.
Past stat’s say that Wednesday’s rarely put in a high or low for the week… therefore we should have a slightly higher high Thursday before rolling over and heading south toward that 1900 area. This could take another week if they take the stairs down (as opposed to taking the rocket ship up).