Which is the truth. And which is why I usually have enough with predicting the day ahead and not an entire week. My main scenario would be a sell into early next week and then anticipating a bottom (or not) as we test the bottom. A strong gap up on Monday probably voids that. Definitely at a decision point here and IMO - harder to predict than recent weeks where downside continuation seemed like the safe bet.
I still think the CV card can played one last time. Cases are the likely to have peaked next week or two. It's pretty bad. If Trump lifts the lockdown too soon and markets do not like it, then, more selloff. And once you stop the engine of the economy, nobody knows how bad the fallout will be. Consumers confidence hit all times low. If people don't spend, it will be bad. Not even accounting for those unemployed people who will definitely cut back for sure. Defaults may go up as well. Too much uncertainty and too many variables to guesstimate. Earning guidance and economic reports may give us some clues, but there's enough time later for the markets to put on new lows.
Christ almighty... 21 posts since my last confession. Edits here will follow as I read through these bitches. Edit 1..... Wrong as f*ck. Go figure. Seyiyo.... Great call!!!! Just looking at today's chart.... You nailed it. Of course not, and its not your fault. See my chicken wringing post. Another beautiful intraday call based on the time you wrote it.
Written Dec 20 below by me. I don’t take credit for this black swan event however it’s uncanny how the prediction below has come to fruition. I personally believe we have not bottomed yet & once we do we’ll be trading in a sideways setup for months. First post so go easy ... I don’t know if you guys follow Phil Anderson (economist) and his 18.6 year real estate cycle? I do,,, I’m a big follower! Since the GFC huge gains on most indices from his history of this valuable cycle have been gained in a sensational manner .... Look him up and follow his thesis, I’m a follower of TA but employ his theories to the tee! We are fast approaching a correction in 2020 .... when? ..... is anyone’s guess & that’s the billion $$ question but anytime from March-November 2020 (presidential election) is probable?.?. Watch very closely the VIX & global movements .... It will be a left field event (not so much a black swan event) but when everyone thinks the picture is so rosy! Guards will be down by many & gains will be evaporated very quickly ... sentiment will change very quickly ... We are fast approaching the mid-cycle correction which will occur at some stage in 2020. It may not be too dramatic but it will happen! Perhaps a 5-10+% correction?? Who knows & who cares but it is inevitable ... I study TA very closely and am waiting patiently for the tell-tale signs of going into conservative mode very soon upon analysis of charts and other variables that say now is the time to take stock. Depending on how this reply is taken, I’ll continue to contribute or isolate myself to my own thoughts ... To sum up 2020 will be a downer, from around 2021 things will pick up big time and be explosive. The second stage of this cycle is going to be very, very powerful ... Get ready
You mean like American Greed, version 2? (or is that version 3?) Anyway ya gotta be a little more specific than that. We're no pikers here.
Good to see you still here Vanzy, thought for a while you were leaving this thread in disgust but this thread thrives on controvesy and trolls, stay with it, hehehe