So how will things play out tomorrow. 5% or 10% down tomorrow. If it follows the Turkish market model from a few weeks ago, then a 10% washout. If it follows the pattern from 25 years 8 months ago (then an opex week as well), then 5% down tomorrow followed by the finishing act on Monday.
Or it can tread water like it did on 5-5 , 3 years 1month ago when the 50 day was breached.
The indices finally dropped below their 50 day averages and below their lower BBs today. The component of a certain little indicator did bounce up to the 0 line a few days ago before reversing lower once again yesterday on the Fed selloff. It can reach the extreme negative levels of a few weeks ago with another decent down day like today.
BAM Investor curiously took off for the summer yesterday. Never seen them take off the summer before.
The Thrice can be eliminated tonight. Technically, they can win also. Game 6 saw them pull out an improbable victory from the clutches of defeat so they move on to Game 7 (again in MIAMI)…
There’s likely to be only one decent bounce to get short at gang. I thought we’d already bottomed earlier today and would bounce slightly Friday but it’s looking pretty ugly right now. However, we already know the downside target is the prior low of 1536 spx so shorting any bounce seems like a good idea to me.
In case anyone is thinking of shorting here, I wouldn’t. There is very high odds that the low is in for today, tomorrow and either Monday/Tuesday… which will be the best time to go short again in my opinion.
It’s not a ‘hint’… it’s a pattern, and it’s a very bearish pattern! I expect it to play out next week. Monday/Tuesday will be the best time to get short for the next big wave down. I’ll give more info in my new weekend post I’ll be doing this Sat/Sun.
Gang, I’ve been really busy with some other important projects and missed this nice sell off. I’ll write a new post this weekend for everyone to tell you what I see in the market next week. For those looking to catch the biggest move down I’ll give you two letters to describe what I see coming… “MA”!
So how will things play out tomorrow. 5% or 10% down tomorrow. If it follows the Turkish market model from a few weeks ago, then a 10% washout. If it follows the pattern from 25 years 8 months ago (then an opex week as well), then 5% down tomorrow followed by the finishing act on Monday.
Or it can tread water like it did on 5-5 , 3 years 1month ago when the 50 day was breached.
The indices finally dropped below their 50 day averages and below their lower BBs today. The component of a certain little indicator did bounce up to the 0 line a few days ago before reversing lower once again yesterday on the Fed selloff. It can reach the extreme negative levels of a few weeks ago with another decent down day like today.
BAM Investor curiously took off for the summer yesterday. Never seen them take off the summer before.
The Thrice can be eliminated tonight. Technically, they can win also. Game 6 saw them pull out an improbable victory from the clutches of defeat so they move on to Game 7 (again in MIAMI)…
S&P 500 Analysis after closing bell: http://niftychartsandpatterns.blogspot.in/2013/06/s-500-analysis-after-closing-bell_21.html
There’s likely to be only one decent bounce to get short at gang. I thought we’d already bottomed earlier today and would bounce slightly Friday but it’s looking pretty ugly right now. However, we already know the downside target is the prior low of 1536 spx so shorting any bounce seems like a good idea to me.
Bank of america chart analysis: http://niftychartsandpatterns.blogspot.in/2013/06/bank-of-america-descending-triangle.html
In case anyone is thinking of shorting here, I wouldn’t. There is very high odds that the low is in for today, tomorrow and either Monday/Tuesday… which will be the best time to go short again in my opinion.
It’s not a ‘hint’… it’s a pattern, and it’s a very bearish pattern! I expect it to play out next week. Monday/Tuesday will be the best time to get short for the next big wave down. I’ll give more info in my new weekend post I’ll be doing this Sat/Sun.
I guess I do not get the hint, what does MA stand for?
Gang, I’ve been really busy with some other important projects and missed this nice sell off. I’ll write a new post this weekend for everyone to tell you what I see in the market next week. For those looking to catch the biggest move down I’ll give you two letters to describe what I see coming… “MA”!
GOLD Chart analysis: http://niftychartsandpatterns.blogspot.in/2013/06/gold-chart-analysis_20.html