Looks like the move down has started early gang… not sure what to think? It’s right close to the end of the Legatus meeting, which we now know it accurate again. The top being on an “eleven” day will have to go back to October 5th.
So what does this leave for the 23rd? Since “eleven” days aren’t negative or positive, but used by the gangsters for evil of course, there is now a possibility of a “flash crash” on that date. Insiders already know what Bernanke is going to say and do… which is why we are tanking early.
This tells me that we aren’t likely to bounce much and should continue down like the May 1st sell, with yesterday being May 1st. This means I’m wrong about October 23rd being the top but right about Legatus.
Unfortunately one needs to get it completely right to profit from successfully. So here I sit in cash missing the start of the sell off and not wanting to get short until I see a bounce. But past history shows there were very few bounces for the bears to get short at. They intentionally make it this way as they don’t want us sheep to make and profit.
Kimble: Head & Shoulders topping pattern in the NDX 100 just got some help from Google???
Jeff Cooper: We are 300 months from ’87 crash. 300 ties to 9/14, this year’s high. Oct. ’07 = 55 months from March ’03 low. Next week = 55 weeks from Oct ’11 low.
The crash in both ’87 and ’29 were 55 days from high.
When they run for cover, GOOG could be a harbinger of what the sell-off will look like. Is the NDX commencing a 3 of 3 to the downside?
Don’t know what it means, if anything, but it took 25 years for the market to make a new high after ’29 crash. Now we’re 25 years from ’87 crash.
They say ‘this’ is about earnings, but the news breaks with the cycles and in 1980 the market plunged during the weeks prior to the election.
Good thought Red on staying with your gut instincts…there is so much noise out there today it can drive you crazy!
One thought I had is and maybe food for thought…
Assuming proportionality (which it never is exactly in this market, but sometimes close), the 1086 SPX print you show would be roughly 9950 on the DOW. If you had a 40% devaluation on the dollar, that could in theory bring you to just under 14000. Which is real close to the FP of DIA 143, right? The same proportionality applies to the IWM 87.5 FP I thought someone mentioned a while back. (IWM would be roughly 61 at SPX 1068; then multiple that by 1.4 for the 40% devaluation)
The assumption is that 1068 SPX is the target for when the 40% devaluation happens. So maybe that’s how we will reach those prints? Just one theory to consider…
well, can’t get them all right. if we’re heading anywhere near 165, there’s plenty to stoll be made
GOLD Chart analysis: http://niftychartsandpatterns.blogspot.in/2012/10/gold-chart-analysis.html
ES update….
http://screencast.com/t/aWgvRegLQ
Looks like the move down has started early gang… not sure what to think? It’s right close to the end of the Legatus meeting, which we now know it accurate again. The top being on an “eleven” day will have to go back to October 5th.
So what does this leave for the 23rd? Since “eleven” days aren’t negative or positive, but used by the gangsters for evil of course, there is now a possibility of a “flash crash” on that date. Insiders already know what Bernanke is going to say and do… which is why we are tanking early.
This tells me that we aren’t likely to bounce much and should continue down like the May 1st sell, with yesterday being May 1st. This means I’m wrong about October 23rd being the top but right about Legatus.
Unfortunately one needs to get it completely right to profit from successfully. So here I sit in cash missing the start of the sell off and not wanting to get short until I see a bounce. But past history shows there were very few bounces for the bears to get short at. They intentionally make it this way as they don’t want us sheep to make and profit.
Going to have to put in some pretty solid up days to hit 147 next week
Kimble: Head & Shoulders topping pattern in the NDX 100 just got some help from Google???
Jeff Cooper: We are 300 months from ’87 crash. 300 ties to 9/14, this year’s high. Oct. ’07 = 55 months from March ’03 low. Next week = 55 weeks from Oct ’11 low.
The crash in both ’87 and ’29 were 55 days from high.
When they run for cover, GOOG could be a harbinger of what the sell-off will look like. Is the NDX commencing a 3 of 3 to the downside?
Don’t know what it means, if anything, but it took 25 years for the market to make a new high after ’29 crash. Now we’re 25 years from ’87 crash.
They say ‘this’ is about earnings, but the news breaks with the cycles and in 1980 the market plunged during the weeks prior to the election.
CRUDE Oil Ascending triangle: http://niftychartsandpatterns.blogspot.in/2012/10/crude-oil-ascending-triangle.html
Good thought Red on staying with your gut instincts…there is so much noise out there today it can drive you crazy!
One thought I had is and maybe food for thought…
Assuming proportionality (which it never is exactly in this market, but sometimes close), the 1086 SPX print you show would be roughly 9950 on the DOW. If you had a 40% devaluation on the dollar, that could in theory bring you to just under 14000. Which is real close to the FP of DIA 143, right? The same proportionality applies to the IWM 87.5 FP I thought someone mentioned a while back. (IWM would be roughly 61 at SPX 1068; then multiple that by 1.4 for the 40% devaluation)
The assumption is that 1068 SPX is the target for when the 40% devaluation happens. So maybe that’s how we will reach those prints? Just one theory to consider…
sitting on the side until next week, but looks like a nice down day- options exp
ES Chart update: http://niftychartsandpatterns.blogspot.in/2012/10/es-chart-update_19.html