Ok… I thought you were expecting new all time highs? But you’re
not… so we agree. I seen the transports too and it’s clearly hit
resistance on the same rising trendline, so I don’t think it’s going
higher. The SPX should pullback too and not make a new high. But I’m
not looking for some crash move down… more like a steady trend change
that just keeps both sides guessing the direction.
Correct Permabear… until that weekly rising trendline of support from
1074 SPX in October of 2011 is broken (around 1800 now) we are still in a
bull market. And while I see what you are talking about on the MACD’s
it just doesn’t match up with prior rallies with similar patterns.
I guess it’s possible (of course it’s possible… duh!) that they
manipulate the charts and continue rallying up despite what the charts
say, but right now that’s all I can go by. I just don’t see a new high
in the charts right now. The weekly chart looks different now then it
did in the past with similar patterns. (I cover that in the video).
Anyway, I guess we’ll know by the end of this week if they start moving down as
I expect or if they put in a new high and don’t look back.
One thing is certain, the market is not in some massive “squeeze the bears” move the last few days. It looks more to me like every point higher is a major struggle for the bulls. Definitely strong signs of weakness in this rally. Looks like it’s just waiting for some bad news (maybe some bad earnings?) so it can give up the fight and fall down.
The volume has been so low that you’d think the market has been closed. I don’t think there’s much more life left in these bulls now. If they are going to make a top soon today would be the ideal day. Then start some kind of down move, back up, down again… you know the deal.
But, by the end of the week I’d like to look back and see that Tuesday put in the high. However, I’m not thinking we’ll break that 1800 level this week though. Usually they chop around some in the early stages of a sell off. That’s what I’m expecting here. (Not that I wouldn’t be happy if it just fell off a cliff though… LOL).
A certain little component of a certain little indicator, Nasdaq version, hit the O line with yesterday’s action.
Meanwhile, NYSE version dropped below its 50 day average earlier in the week although it has since gone positive but still below the 50 day average.
I think the bears should remain emboldened as long as the Harry Dent Dow 17000 ad continues to appear over at DEs. This is contrast to the past 4 years when the Dent Dow 3000 ad continued to appear……The dude who made 40 million playing tech stocks back in 1999/2000 also seems to be a contrarian indicator. His ads seem to materialize when the market appears to be topping out.
Did some more indepth research on Gravity and unearthered a deeper Russian connection in the film (to the upcoming Grand Ritual).
Day of Infamy tomorrow, followed by the Week of Infamy plus the 144 year birthday of Lenin and possible occultic Pentecost.
I don’t know Scott? It doesn’t “feel” like it want’s to make a new high. It’s possible I guess as we all know how heavily manipulated they are to the bull side. But it really looks to me like we’ll make a lower high, and that it will happen on Tuesday.
There’s nothing saying for sure that they will use that day just because it’s one of many ritual days. But the charts certainly line up with a turn around the same period as well, so there’s really good odds of it happening.
Then there’s all the planet stuff aligning up too… which I’m not normally one to follow or factor into a call for a “turn” but Ali researched it and of course posted his thoughts around that time period as being negative as well.
And while I don’t go visit Raymond Merriman’s site hardly ever (been at least 2 years) I just was cleaning up some of the links here on the sidebar of the blog and removing dead sites. While doing so I checked his link (Under “Astrology Moon Cycles” section) and took the time to read his post.
Very interesting about this time period for sure… especially when we’ve only had 2 times in the last 100 years where the planets aligned up like they are now (grand cardinal square), which were in 1931 and 1933…
Hi Red,
Looks like the animal spirit is alive and well. If we close above resistance at 1866 will be on fire to see 1920 by next week or early next. Any thoughts?
Ok… I thought you were expecting new all time highs? But you’re
not… so we agree. I seen the transports too and it’s clearly hit
resistance on the same rising trendline, so I don’t think it’s going
higher. The SPX should pullback too and not make a new high. But I’m
not looking for some crash move down… more like a steady trend change
that just keeps both sides guessing the direction.
re: I just don’t see a new high in the charts right now.
I refer you to the Transports index. Aka ‘old leader’, and they don’t call it that for no reason.
Correct Permabear… until that weekly rising trendline of support from
1074 SPX in October of 2011 is broken (around 1800 now) we are still in a
bull market. And while I see what you are talking about on the MACD’s
it just doesn’t match up with prior rallies with similar patterns.
I guess it’s possible (of course it’s possible… duh!) that they
manipulate the charts and continue rallying up despite what the charts
say, but right now that’s all I can go by. I just don’t see a new high
in the charts right now. The weekly chart looks different now then it
did in the past with similar patterns. (I cover that in the video).
Anyway, I guess we’ll know by the end of this week if they start moving down as
I expect or if they put in a new high and don’t look back.
Red, what about the weekly charts?
Are you not watching the MACD cycles? Those are offering upside across May, and into mid June.
You talk about the bulls struggling, well..kinda, but the trend IS the trend, and it is NOT down.
Right now, the notion of <1814 looks completely out of range for at least 2-3 months.
One thing is certain, the market is not in some massive “squeeze the bears” move the last few days. It looks more to me like every point higher is a major struggle for the bulls. Definitely strong signs of weakness in this rally. Looks like it’s just waiting for some bad news (maybe some bad earnings?) so it can give up the fight and fall down.
The volume has been so low that you’d think the market has been closed. I don’t think there’s much more life left in these bulls now. If they are going to make a top soon today would be the ideal day. Then start some kind of down move, back up, down again… you know the deal.
But, by the end of the week I’d like to look back and see that Tuesday put in the high. However, I’m not thinking we’ll break that 1800 level this week though. Usually they chop around some in the early stages of a sell off. That’s what I’m expecting here. (Not that I wouldn’t be happy if it just fell off a cliff though… LOL).
ES Chart analysis: http://niftychartsandpatterns.blogspot.in/2014/04/es-chart-analysis_22.html
New post… http://reddragonleo.com/2014/04/20/the-scary-planetary-alignment-due-on-april-21st-2014/
A certain little component of a certain little indicator, Nasdaq version, hit the O line with yesterday’s action.
Meanwhile, NYSE version dropped below its 50 day average earlier in the week although it has since gone positive but still below the 50 day average.
I think the bears should remain emboldened as long as the Harry Dent Dow 17000 ad continues to appear over at DEs. This is contrast to the past 4 years when the Dent Dow 3000 ad continued to appear……The dude who made 40 million playing tech stocks back in 1999/2000 also seems to be a contrarian indicator. His ads seem to materialize when the market appears to be topping out.
Did some more indepth research on Gravity and unearthered a deeper Russian connection in the film (to the upcoming Grand Ritual).
Day of Infamy tomorrow, followed by the Week of Infamy plus the 144 year birthday of Lenin and possible occultic Pentecost.
I don’t know Scott? It doesn’t “feel” like it want’s to make a new high. It’s possible I guess as we all know how heavily manipulated they are to the bull side. But it really looks to me like we’ll make a lower high, and that it will happen on Tuesday.
There’s nothing saying for sure that they will use that day just because it’s one of many ritual days. But the charts certainly line up with a turn around the same period as well, so there’s really good odds of it happening.
Then there’s all the planet stuff aligning up too… which I’m not normally one to follow or factor into a call for a “turn” but Ali researched it and of course posted his thoughts around that time period as being negative as well.
And while I don’t go visit Raymond Merriman’s site hardly ever (been at least 2 years) I just was cleaning up some of the links here on the sidebar of the blog and removing dead sites. While doing so I checked his link (Under “Astrology Moon Cycles” section) and took the time to read his post.
Very interesting about this time period for sure… especially when we’ve only had 2 times in the last 100 years where the planets aligned up like they are now (grand cardinal square), which were in 1931 and 1933…
http://www.mmacycles.com/weekly-preview/mma-comments-for-the-week/mma-comments-for-the-week-beginning-april-14,-2014/
Hi Red,
Looks like the animal spirit is alive and well. If we close above resistance at 1866 will be on fire to see 1920 by next week or early next. Any thoughts?