S&P chart is staging a classic A-B-C up toward the 1140 zone which happens to be the 61.8% retracement. It'd be an interesting place to look for short opportunities.
I get nervous every time I see GS or big technology companies like AAPL, GOOG not participating in the rally. A storm starts every time I see these guys' price actions muted. I might be wrong, yet I won't take a chance.
S&P(1115) broke abv key resistance at 1100 on Friday. This was a significant breakout as suppose to a fakeout cuz the mkt leaders (IYT(#1), QQQQ(#2), IWM(#3)) performed better than the followers (DIA and SPY). An indication of more upside for the mkt.
This will only last a few days before a sharp reversal starts.
WHAT LIES AHEAD:
S&P(1115) going to 1150 and then a fast reversal to 980.
For now, look for it to go up to abt 1121-1124 and then a pullback to 1101-1106 before the next rise to 1150.
I have problems assuming that gaps will fill. Look at the gap up on February 16th (on below average volume), followed by a MASSIVE rally through April. But props to this guy for making projections and arguing his point. Always interesting.
the markets is going ddddddddddddddddooooooooooooooooooooooooooooooooooooooooooooooowwwwwwwwwwwwwwwwwwwwwwwnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnn lol runnnnnnnnnnnn for your life short everything :0)
Thanks for the daily vid and the other videos you posted in the chart school section of your website, people watching this should watch your outstanding videos in the chart school section, they will learn very valuable information.
@martialarm Well it doesn't have to but it normally does and there are reasons why it should. If for no other than profit taking. A buyer can only close there position by selling. The buyers caused the gap thus will cause the fill. See?
@cosmosgato Thanks for that. I dont know why they bother to have markets open 10 to 4 as everything happens in the first and last hour. Could be a two hour market!
@gofigure2007 So you are saying that due to after hours low volume the price is not natural? Like a rally with low volume is an indicator that it will be reversed?
@martialarm There is only so many shares available in after hours which cause a distortion generally. ]. There is always an ocassional exception to the rule.
I am shorting this rally, did I miss something? Did 40 million americans turn their food stamp cards back? Are all the unemployed finding $25 hour jobs? where let me know. Is the funny money flowing from Fed to goldman sachs to pump the market, OH YES! Housing sales, yeah those are foreclosures being sold on court house steps. Exactly what is the average consumer credit rating in america? low 600's would be about right.
No question there's a short coming, but there's also no question for small agile retail money it offered some nice intra day profit. Big money for liquidity reasons nearly necessarily has to be one the other side of retail. Unless of course there is a major disagreement at the top.
it's coming on Wednesday guys, either premarket on bad econ. news or at 2pm on fed news. It will crash hard until 3/8 and it will be fast. 3/8 should be a pivot point and after that it may bounce up again for several days until 11/08. not sure what happens on aug. 11-12 those days will be choppy. they are also a pivot point.
@jrich929 I use numerology to find possible pivot points in the markets and try to analyze the overall market situation and psychology...maybe you have heard of financial astrology..it goes in that direction...
@jordan2tagg . Hey Jordan can you message me and explain your thoughts. WHy do you think it's gonna crash on wednesday? and why do you think it will crash hard until 3/8? what's with that exact date for you? then you say it will bounce up for several days until 11/8.. but that's alot more than several days 3/8 is march we are in july.. can you explain what you're think to me I'd liek to know your viewpoint thanks
@Awildwildworld I live in Europe so I put the day before the month so for me 3/8 is aug 3 ;p so my prediction is rally until july 28 and tank until aug. 3 then rally until aug. 11. I will tell you how I come up with those dates if it really plays out like this...
@jordan2tagg Durable goods order data is released Wednesday morning, so maybe that will be used as an excuse for the overdue selloff. I don't thnk this is going much higher than a brush up against the bollinger band, after which reality should settle back in. The ECRI index is -10.5 this week (after trending down for a few months now), which indicates an almost sure double dip recession.
How do you know it'll be this Wednesday and a bounce will end on 11/8? Only Marty McFly and Doc Emmett Brown would know for sure. I don't think we're in either a bull or bear market. I lost money between May and June holding longs thinking it's still a bull market. Then I lost money this month in July shorting thinking it's a bear market. When I lose money, it means I'm wrong. So when I short now and lost money, then it means it's not a bear market.
what about the gap at the top ,
will that one fill ?
cosmicguerilla1 1 year ago
@cosmicguerilla1
good point
joemoonblue 1 year ago
3:40 that is what we call a "stop loss"
Nikemikey5905 1 year ago
S&P chart is staging a classic A-B-C up toward the 1140 zone which happens to be the 61.8% retracement. It'd be an interesting place to look for short opportunities.
dlmaniac 1 year ago
I get nervous every time I see GS or big technology companies like AAPL, GOOG not participating in the rally. A storm starts every time I see these guys' price actions muted. I might be wrong, yet I won't take a chance.
himakgam 1 year ago
S&P(1115) broke abv key resistance at 1100 on Friday. This was a significant breakout as suppose to a fakeout cuz the mkt leaders (IYT(#1), QQQQ(#2), IWM(#3)) performed better than the followers (DIA and SPY). An indication of more upside for the mkt.
This will only last a few days before a sharp reversal starts.
WHAT LIES AHEAD:
S&P(1115) going to 1150 and then a fast reversal to 980.
For now, look for it to go up to abt 1121-1124 and then a pullback to 1101-1106 before the next rise to 1150.
hahgoah 1 year ago
I have problems assuming that gaps will fill. Look at the gap up on February 16th (on below average volume), followed by a MASSIVE rally through April. But props to this guy for making projections and arguing his point. Always interesting.
crayola77777 1 year ago
By the end of the week or very early next week this rally/bounce WILL BE OVER. I repeat. Get out by the end of the week if you're long and go short.
FTSE 4400/4500 by Oct, S&P 940 by Oct. - "bounce up here and THEY KILL YOU".
Gonna happen by end of week - or at the latest early next week.
Cheers Christian, keep up the good work, appreciated from London UK.
buffett1000 1 year ago
@buffett1000 Thanks
PSAadmin 1 year ago
the markets is going ddddddddddddddddooooooooooooooooooooooooooooooooooooooooooooooowwwwwwwwwwwwwwwwwwwwwwwnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnn lol runnnnnnnnnnnn for your life short everything :0)
ziggybeats 1 year ago
Thanks for the daily vid and the other videos you posted in the chart school section of your website, people watching this should watch your outstanding videos in the chart school section, they will learn very valuable information.
goldwing25 1 year ago
@goldwing25 Thanks
PSAadmin 1 year ago
thanks Christian
cunnidvd 1 year ago
@cunnidvd Thank you
PSAadmin 1 year ago
How much longer are we going to be peeing ourselves?
cunnidvd 1 year ago 8
so.... whats gonna happen
Yamakashi1 1 year ago
made a thousand bucks on this little rally though.
Awildwildworld 1 year ago
Why do gaps have to fill? Are they not just after hours trading showing up on a graph?
martialarm 1 year ago
Also that gap you are talking about is exactly the same size at 28th June on your graph. strange..
martialarm 1 year ago
@martialarm it's a dogma there is no explanation it's just the way it is.
jordan2tagg 1 year ago
@martialarm Well it doesn't have to but it normally does and there are reasons why it should. If for no other than profit taking. A buyer can only close there position by selling. The buyers caused the gap thus will cause the fill. See?
cosmosgato 1 year ago
@cosmosgato Thanks for that. I dont know why they bother to have markets open 10 to 4 as everything happens in the first and last hour. Could be a two hour market!
martialarm 1 year ago
@cosmosgato Thanks for the info! Holy crap we have a lot of gaps to fill!
nocsm1 1 year ago
@martialarm after hours trades do not represent true buy/sell volume to determine fair prices. Gaps get filled by price discovery.
gofigure2007 1 year ago
@gofigure2007 So you are saying that due to after hours low volume the price is not natural? Like a rally with low volume is an indicator that it will be reversed?
martialarm 1 year ago
@martialarm There is only so many shares available in after hours which cause a distortion generally. ]. There is always an ocassional exception to the rule.
gofigure2007 1 year ago
Christian, what do you mean by filling the gap!?
nocsm1 1 year ago
@nocsm1 The close price of one day "SHOULD" be the open price of the next.
When it is not it is called a GAP..
That difference in price normally "FILLED" by price at a later time retracing to the fore mentioned close price.
cosmosgato 1 year ago
@nocsm1 Posted a video on basic gap analysis in our Chart School section of our free website for your review.
PSAadmin 1 year ago
I am shorting this rally, did I miss something? Did 40 million americans turn their food stamp cards back? Are all the unemployed finding $25 hour jobs? where let me know. Is the funny money flowing from Fed to goldman sachs to pump the market, OH YES! Housing sales, yeah those are foreclosures being sold on court house steps. Exactly what is the average consumer credit rating in america? low 600's would be about right.
bohemianh 1 year ago
@bohemianh Nice!
PSAadmin 1 year ago
@bohemianh don't forget the record breaking 103 bank foreclosures ALREADY this year. What a recovery!!!
SHEETS31 1 year ago
currently dow jones will not go up much further than 10600
borderpatrol05 1 year ago
No question there's a short coming, but there's also no question for small agile retail money it offered some nice intra day profit. Big money for liquidity reasons nearly necessarily has to be one the other side of retail. Unless of course there is a major disagreement at the top.
cosmosgato 1 year ago
Hope you are right, I went short at the close.
tomniemiller 1 year ago 2
it's coming on Wednesday guys, either premarket on bad econ. news or at 2pm on fed news. It will crash hard until 3/8 and it will be fast. 3/8 should be a pivot point and after that it may bounce up again for several days until 11/08. not sure what happens on aug. 11-12 those days will be choppy. they are also a pivot point.
jordan2tagg 1 year ago
@jordan2tagg
why do you think that?
jrich929 1 year ago
@jrich929 I use numerology to find possible pivot points in the markets and try to analyze the overall market situation and psychology...maybe you have heard of financial astrology..it goes in that direction...
jordan2tagg 1 year ago
@jordan2tagg Arch Crawford was expecting the big down today.
martialarm 1 year ago
@martialarm yup Ive heard of him but he is using only astrology...I think numerology is much more powerful for predictions
jordan2tagg 1 year ago
@jordan2tagg Ok I see. Any books or PDFs you would recommend?
martialarm 1 year ago
@jordan2tagg . Hey Jordan can you message me and explain your thoughts. WHy do you think it's gonna crash on wednesday? and why do you think it will crash hard until 3/8? what's with that exact date for you? then you say it will bounce up for several days until 11/8.. but that's alot more than several days 3/8 is march we are in july.. can you explain what you're think to me I'd liek to know your viewpoint thanks
Awildwildworld 1 year ago
@Awildwildworld I live in Europe so I put the day before the month so for me 3/8 is aug 3 ;p so my prediction is rally until july 28 and tank until aug. 3 then rally until aug. 11. I will tell you how I come up with those dates if it really plays out like this...
jordan2tagg 1 year ago
@jordan2tagg Durable goods order data is released Wednesday morning, so maybe that will be used as an excuse for the overdue selloff. I don't thnk this is going much higher than a brush up against the bollinger band, after which reality should settle back in. The ECRI index is -10.5 this week (after trending down for a few months now), which indicates an almost sure double dip recession.
colty77 1 year ago
@jordan2tagg
How do you know it'll be this Wednesday and a bounce will end on 11/8? Only Marty McFly and Doc Emmett Brown would know for sure. I don't think we're in either a bull or bear market. I lost money between May and June holding longs thinking it's still a bull market. Then I lost money this month in July shorting thinking it's a bear market. When I lose money, it means I'm wrong. So when I short now and lost money, then it means it's not a bear market.
dnliu 1 year ago
@dnliu You should read the article posted in our blog on the free website last weekend.
PSAadmin 1 year ago