Yes Permabear I’m still expecting a correction but not a crash like 1987 was. Could it be a “flash crash”… sure. But I’m only looking for around 10% minimum to 20% maximum on the downside in total. How fast it drops is something I don’t know? But no 1987 crash… not yet at least. Maybe next year?
Time frame on it… hard too say? I’d look for this coming April 11th (double eleven day as it’s a 22) and April 22nd as it’s 33 and also a double eleven. Remember that the May 22nd date in 2013 was a 33 and another double eleven. It also was in the middle of a Legatus meeting so odds of a turn there were HUGE (which produced about a 10% drop).
This time we don’t have any Legatus meeting around it, but odds of a turn there still are HIGH, so I’d look for both dates, with the 22nd being the preferred one. Also, the 18th is option expiration for the monthly’s (which is usually a bullish week), so that too increases the odds for the 22nd versus the 11th… but watch both.
One more thing… since we are in a “magic 7 year” as we were told by Christine Lagarde I’d look for seven’s too as possibly she’s indicating that elevens aren’t as important this year and that seven’s will be the new one to pay attention too. Just food for thought as we don’t really know either way…
I guess my math was off by a point yesterday so today’s high for the SP at 1893.9 minus 666.79 should be 1227.11…..that looks like a better number. The close at 1888.76 is another interesting number and today’s high has the 93 both forward and reversed.
The dollar as expected thrusted upward over and out of the triangle that has been forming the last couple of weeks. Didn’t see the news but there was ECB meeting earlier today.
SP and Dow did an interesting thing today. Made slight new intraday highs followed by negative closes with the Dow down slightly at the end. This was seen at the secondary high in double ninen. Nasdaq and Russell 2000 were battered hard today in comparison. Dow’s high was 16604? SC’s chart doesn’t show it there but close enough to 16606?
There was a minor change reading yesterday.
Copper was in the identical situation yesterday as it was back in late September 2008, bouncing up to its 50 RSI reading, beneath both its 50 and 200 day averages with the 50 beneath the 200 and the spread between the two about the same.
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Never did my Superbowl recap here but it looks like the NFL rescinded it’s stand down order for defenses playing Popgun and allowed “nature” to take its course. Of course after last year’s victor put up 34 pts and this year’s victor put up 43 maybe things weren’t so natural….??
The Superbowl with the ritualistic safety off the first play of the game to get the score to end at 8 for the Broncos as the ball was hiked over Popgun’s head.
Hmm, I suppose we might max out in late April, but regardless, this rally is getting old.
Just reflect on the fact that this is month’ 31 UP , since the Oct’2011 low of sp’1074.
*one little thing the bears do have to look forward to is another QE-taper at the April’ 30 FOMC.
Every dollar less of QE-pomo is going to remove a little bit more of the underlying market bid.
—
Thanks for the detailed list of ideas, I do appreciate the reply.
Yes Permabear I’m still expecting a correction but not a crash like 1987 was. Could it be a “flash crash”… sure. But I’m only looking for around 10% minimum to 20% maximum on the downside in total. How fast it drops is something I don’t know? But no 1987 crash… not yet at least. Maybe next year?
Time frame on it… hard too say? I’d look for this coming April 11th (double eleven day as it’s a 22) and April 22nd as it’s 33 and also a double eleven. Remember that the May 22nd date in 2013 was a 33 and another double eleven. It also was in the middle of a Legatus meeting so odds of a turn there were HUGE (which produced about a 10% drop).
This time we don’t have any Legatus meeting around it, but odds of a turn there still are HIGH, so I’d look for both dates, with the 22nd being the preferred one. Also, the 18th is option expiration for the monthly’s (which is usually a bullish week), so that too increases the odds for the 22nd versus the 11th… but watch both.
One more thing… since we are in a “magic 7 year” as we were told by Christine Lagarde I’d look for seven’s too as possibly she’s indicating that elevens aren’t as important this year and that seven’s will be the new one to pay attention too. Just food for thought as we don’t really know either way…
…but what about May?
You know as well as anyone the bulls face a wall in May.
We remember the sharp washout in 2010, and the initial peak in May of 2011 – to be followed by the major down wave of late July-August.
2012 and 13…completely minor moves…
So…what about this late spring/summer?
As long as these stories are all over the main stream media I wouldn’t be looking for any huge drop… http://marketsblog.usatoday.com/2014/04/02/is-a-1987-type-market-crash-37-days-away/
SC now has the SP close at 1888.77
I guess my math was off by a point yesterday so today’s high for the SP at 1893.9 minus 666.79 should be 1227.11…..that looks like a better number. The close at 1888.76 is another interesting number and today’s high has the 93 both forward and reversed.
The dollar as expected thrusted upward over and out of the triangle that has been forming the last couple of weeks. Didn’t see the news but there was ECB meeting earlier today.
SP and Dow did an interesting thing today. Made slight new intraday highs followed by negative closes with the Dow down slightly at the end. This was seen at the secondary high in double ninen. Nasdaq and Russell 2000 were battered hard today in comparison. Dow’s high was 16604? SC’s chart doesn’t show it there but close enough to 16606?
There was a minor change reading yesterday.
Copper was in the identical situation yesterday as it was back in late September 2008, bouncing up to its 50 RSI reading, beneath both its 50 and 200 day averages with the 50 beneath the 200 and the spread between the two about the same.
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– You may make an additional spend as many times as you dlike.
– Payments made 7 days per week.
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– Use our referral program and earn up to 12.00% of referral deposits!
– Support 24/7.
– High profitable returns.
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http://www.mclaininvestment.com
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http://www.payinghyiponline.com/McLain%20Finance.html
Do you want to be a member of the great
brotherhood Illuminati? we are going to
make you
rich famous and to be a world known
star,get a good
job,to win elections and get into a political
power we
are going to enrich you in all your
endeavors
empowerment and you will never loose any
case in
court or were ever, you will have powers to
control
people in high places email us now at
jonnyilluminatiagent@gmail.com
Never did my Superbowl recap here but it looks like the NFL rescinded it’s stand down order for defenses playing Popgun and allowed “nature” to take its course. Of course after last year’s victor put up 34 pts and this year’s victor put up 43 maybe things weren’t so natural….??
The Superbowl with the ritualistic safety off the first play of the game to get the score to end at 8 for the Broncos as the ball was hiked over Popgun’s head.