Cobra has a chart that uses CPCE trends to identify market tops, including temporary ones. The technique is quite accurate, though sometimes events must unfold a little more in order for the user to fully understand what happened.
For example, it flashed a top signal for Tuesday, but it is possible that today's doji was the low relative to that high (if the market were to take off from here).
I don't think the market is going anywhere. I think that NYMO has to unwind first (being pumped full of low-volume sunshine and rainbows). This should give us two things: (1) a lower low than we have seen so far, and (2) a divergence in NYMO that will confirm that the final low has been achieved, which has been lacking so far.
I have a better idea. Maybe we should give the BP guy one day to short his stock and the whole market in an effort of quickly capitalizing the 20 Billion fund. It would be for a good cause too.
Cobra has a chart that uses CPCE trends to identify market tops, including temporary ones. The technique is quite accurate, though sometimes events must unfold a little more in order for the user to fully understand what happened.
For example, it flashed a top signal for Tuesday, but it is possible that today's doji was the low relative to that high (if the market were to take off from here).
I don't think the market is going anywhere. I think that NYMO has to unwind first (being pumped full of low-volume sunshine and rainbows). This should give us two things: (1) a lower low than we have seen so far, and (2) a divergence in NYMO that will confirm that the final low has been achieved, which has been lacking so far.
Here's the chart I referred to: http://stockcharts.com/def/servlet/Favorites.CS…
Best to wait until after 7pm est to make sure that the final data is in.
Edit: Bottom line, I think 1087 is doable tomorrow.
I have a better idea. Maybe we should give the BP guy one day to short his stock and the whole market in an effort of quickly capitalizing the 20 Billion fund. It would be for a good cause too.
He He He… we need “Fat Finger Freddy” to show up for work tomorrow drunk. Maybe he'll unplug the “kill switch” for the 1000 point drop too?
He He He… we need “Fat Finger Freddy” to show up for work tomorrow drunk. Maybe he'll unplug the “kill switch” for the 1000 point drop too?
Sorry for being out of the loop. What did Cramer say? And who is Cano? what is he saying? Please elaborate.
LOL. But as a smart man you know that a 1000 point drop will halt the exchanges. Better to take it a bit at a time.
My wish would be a little deeper correction then that… starting with the first 1000 points down by 10 am… LOL
Leo:
You may get your wish, courtesy of Daneric's EW:
http://2.bp.blogspot.com/_TwUS3GyHKsQ/TBqAHtx3w…
Solving the Cramer riddle, he's predicting some nasty stuff for tomorrow. ………………And Cano's the man this year not Zobrist.
B-wave? How about an ABC you later in the poorhouse wave, cause thats where I am at!