If historical pattern holds, then 1120 is most likely the next target. 1070 is probably the max low.
Historically, current condition has resulted in a 10% decline over the coming weeks.
My confidence is based on the pattern in price trend, market breadth, volume pattern, over valuation, extreme optimism (based on various measurement and none of that is related to how loud blog bears moarn), and spike in yield pressure.
It appears the die is cast. While anything is possible, it appears that the odds of the market overcoming all those adverse conditions would require divine intervention. But then again… We do have the unholy trinity of He Who Knows What is Best for US, Bernanke and Blankfein…..
$VIX is going to print 16.90
AAPL gapped an important TL on the daily
http://www.flickr.com/photos/47091634@N04/44728…
Value : Date Ritual
very simple observation on the AAPL monthly setup
http://www.flickr.com/photos/47091634@N04/44736…
During Reversal Months the high of month comes near the open of the month.
If both the $VIX and the markets close up, statistically speaking, the next day is likely to be red.
VIX action quite interesting.
So, 1120 before 1200. Fine by me 🙂
If historical pattern holds, then 1120 is most likely the next target. 1070 is probably the max low.
Historically, current condition has resulted in a 10% decline over the coming weeks.
My confidence is based on the pattern in price trend, market breadth, volume pattern, over valuation, extreme optimism (based on various measurement and none of that is related to how loud blog bears moarn), and spike in yield pressure.
It appears the die is cast. While anything is possible, it appears that the odds of the market overcoming all those adverse conditions would require divine intervention. But then again… We do have the unholy trinity of He Who Knows What is Best for US, Bernanke and Blankfein…..
Carl is Long second unit at 1168.25
Posted it this morning! See below.
Interesting article from Zero Hedge (Anna posted it in OBB). It shows that last weeks' rally was from a whole lot of shorts covering.
http://www.zerohedge.com/article/capitulation-b…
Good morning, SC.
You sound confident. Do you gve a downside target?