I know how you feel. I don't have any personal friends or family members that understand anything I talk about. It's like I'm talking in another language too them. They all took the blue pill, and I took the red pill.
LOL. My wife always marvels at how cynical I am. She bought a package of a new kind of Oreo cookies that has cookie crumbs mixed in the filling and I said, “I see they found a way of recycling their cookie scrap” and she couldn't believe it.
The only sense of wonder I have is wondering what the heck agenda is behind the headlines.
Whenever the market is trading above the 50ma, 20ma, and 10ma… it's in an uptrend. When market falls below them, it's in a downtrend. The more lines it falls below, the longer the downtrend should last.
Then you need to look at the next large chart (longer term chart), which will tell you if it's going to be minutes, hours, days, weeks, or months… with the new up/down trend.
Look at the weekly chart and you will see that the 20ma hasn't crossed over the 50ma yet. I think it will cross in late June or early July.
One thing I've learned the hard way is that nothing connected with the market is certain, but I think this is the closest I've ever been to staring down an empty elevator shaft.
A 100 point day would sure be good advertising for the regulatory package that the foxes have designed for the henhouse!
I like Cobra and read his posts regularly. He's a great chartist, and I've learned a lot from him. I certainly don't know exactly how far we are going down, but I'm pretty sure that we “are” going down.
Red…when you say charts pointing down…in very simple term what does that mean to you…I always used the ma if you will to tell me …if they were stacked 50…20…10…then yep going down…5min 15min 60min all down by a little on two and the daily not…
I sure hope the website is still working. A year ago I didn't have a clue how to make a wordpress blog. But, I learned a lot since then… and keep learning new things every day.
Seeing as the new trading rules being bandied about include a 'circuit breaker' for a market loss of 5% rather than the current 10%, how about just one more 10% day for old times' sake? That would put us at 1008, coincidentally the same as the bottom of the target range for the Ascending Broadening Wedge that Cobra has highlighted:
I know how you feel. I don't have any personal friends or family members that understand anything I talk about. It's like I'm talking in another language too them. They all took the blue pill, and I took the red pill.
thx red…were on the same page…
LOL. My wife always marvels at how cynical I am. She bought a package of a new kind of Oreo cookies that has cookie crumbs mixed in the filling and I said, “I see they found a way of recycling their cookie scrap” and she couldn't believe it.
The only sense of wonder I have is wondering what the heck agenda is behind the headlines.
Now you are starting to sound like “R”… LOL
Whenever the market is trading above the 50ma, 20ma, and 10ma… it's in an uptrend. When market falls below them, it's in a downtrend. The more lines it falls below, the longer the downtrend should last.
Then you need to look at the next large chart (longer term chart), which will tell you if it's going to be minutes, hours, days, weeks, or months… with the new up/down trend.
Look at the weekly chart and you will see that the 20ma hasn't crossed over the 50ma yet. I think it will cross in late June or early July.
http://stockcharts.com/def/servlet/Favorites.CS…
I think the monthly will cross shortly thereafter, and the market is going to drop like a rock for the last half of the year. Bad times are coming…
One thing I've learned the hard way is that nothing connected with the market is certain, but I think this is the closest I've ever been to staring down an empty elevator shaft.
A 100 point day would sure be good advertising for the regulatory package that the foxes have designed for the henhouse!
I like Cobra and read his posts regularly. He's a great chartist, and I've learned a lot from him. I certainly don't know exactly how far we are going down, but I'm pretty sure that we “are” going down.
Red…when you say charts pointing down…in very simple term what does that mean to you…I always used the ma if you will to tell me …if they were stacked 50…20…10…then yep going down…5min 15min 60min all down by a little on two and the daily not…
just want to understand your thinking better…thx
I sure hope the website is still working. A year ago I didn't have a clue how to make a wordpress blog. But, I learned a lot since then… and keep learning new things every day.
Great post, Red, I appreciate the charts.
Seeing as the new trading rules being bandied about include a 'circuit breaker' for a market loss of 5% rather than the current 10%, how about just one more 10% day for old times' sake? That would put us at 1008, coincidentally the same as the bottom of the target range for the Ascending Broadening Wedge that Cobra has highlighted:
http://stockcharts.com/def/servlet/Favorites.CS…