Today should be the last chance for the bulls to exit before another leg down. All the short term charts will have worked off their oversold conditions by the end of today or early tomorrow morning.
With the monthly and weekly charts pointing down really hard, I seriously doubt that we’ll see that 138 SPY FP anytime soon. It might take years to get back up that high? We are going to have too have hyper-inflation to see the market rally like that again. I think we’ll see the 34.65 SPY FP first… as in “this year probably, or March of next year”.
That 40 print of FAZ might match up with 1382 FP??? I’ve been watching FAZ (okay I own probably too much of it) and it can get down there in a hurry. Just going off memory here but… when we were at 1370 SPX, FAZ was around 39 after their 5:1 reverse split.
It’s interesting we had 2 prints on 3x EFT’s in 2 days. Yesterday FAS FP at 8.72 now FAZ FP near 40. They appear to contratdict each other. So it looks like we have a drop then huge pop, or we run up to the 1382 area then with a huge drop. Of note, the last time FAS was around 8.72 was when SPX was ~750 back in March 2009. Doesn’t mean the correlation will be the same this time though…All this assumes those are valid FP’s!!!
Thanks… and yeah, that looks like a FP, but that would imply a huge rally in the market as FAZ is a bearish ETF on the banks. I doubt if we will see FAZ fall to that level anytime soon. Maybe next year? Who knows? Thanks though…
Crash tomorrow gang!
I figured it out. You have too click on the “like” button first.
Sorry Red, I am not to sure either how to make a comment on his face book page
Sorry Red, I am not to sure either how to make a comment on his face book page
Today should be the last chance for the bulls to exit before another leg down. All the short term charts will have worked off their oversold conditions by the end of today or early tomorrow morning.
With the monthly and weekly charts pointing down really hard, I seriously doubt that we’ll see that 138 SPY FP anytime soon. It might take years to get back up that high? We are going to have too have hyper-inflation to see the market rally like that again. I think we’ll see the 34.65 SPY FP first… as in “this year probably, or March of next year”.
Red,
That 40 print of FAZ might match up with 1382 FP??? I’ve been watching FAZ (okay I own probably too much of it) and it can get down there in a hurry. Just going off memory here but… when we were at 1370 SPX, FAZ was around 39 after their 5:1 reverse split.
It’s interesting we had 2 prints on 3x EFT’s in 2 days. Yesterday FAS FP at 8.72 now FAZ FP near 40. They appear to contratdict each other. So it looks like we have a drop then huge pop, or we run up to the 1382 area then with a huge drop. Of note, the last time FAS was around 8.72 was when SPX was ~750 back in March 2009. Doesn’t mean the correlation will be the same this time though…All this assumes those are valid FP’s!!!
That’s one very good page, thanks for sharing.
Wow… I wonder if closes at 6.66% down? LOL! That would be another signal of the coming crash.
Thanks… and yeah, that looks like a FP, but that would imply a huge rally in the market as FAZ is a bearish ETF on the banks. I doubt if we will see FAZ fall to that level anytime soon. Maybe next year? Who knows? Thanks though…