Does SPY gapped filled mean end of rally?

this is no ordinary 'bull market'

it's going from where the market was in '96 to '99 in 7 months

5 times the speed, in an extremely narrow channel

we have *never* seen anything like this

 

The top is near, I would characterize the action of the past 2 trading days as a battle for control between bulls and bears. When you get a battle for control, there is usually a short term pullback. The volume and intraday volatility of the past 2 days has been above average to put it mildly. It tells me that we're topping right under 1100. The next 4% will likely be on the downside.

http://marketcynic.blogspot.com/

 

1907 market down 50%, something about leverage loans, next year, back to high. hmmm....

 

Or...

it's like where the market was in 2003 to 2004 in 7 months.

1.2 times the speed, in an extreamly narrow channel

we have *previously* seen something like this

 

Not true. It has happened before, we have seen something like this.

 

Its not a bull market at all. The dollar is collapsing. Its called inflation. Price the Dow in anything other than dollars and it sucks. Unchanged year over year. Down 80 percent from the 2000 highs in real terms.

 

there is another gap 112.5 i think.

 

The markets have come down big and hard. A recovery to the 50% level can't be unusual. Given the speed of the plunge, the rate of ascent isn't all that bad.

After a decent correction, we have more bullishness ahead.

 

I'm pretty sure the only gap is around 110, and it's now been filled.

Do you have a chart?

 

The bulls threw all they could at the bears during this earnings season, INTC, JPM, AAPL, AMZN, MSFT, etc. And we've gone nowhere. All we've done over the past few days is generate volume and churn at current levels. We've got to go down first to shake out the weak longs and then we'll push higher.

I expect the market to fall next week and then rally at the end of October and beginning of November.

http://marketcynic.blogspot.com/