This 3900 zone is definitely a zone of big interest. You can't rule out a rally coming out of this base for a 2nd time. I'm thinking it won't, but I'm not married to that view. I seriously have no idea what's going to happen. Just an idea of what might happen. And that might be enough to put some money into my pocket. Anyway. Enough talk / spam / noise. Signing off. PS: Friday is triple witching day. I wonder how that may influence the end of week action.
So everyone become almost universally bearish after yesterday. Just seems like that is too obvious. Still have some challenging seasonality here but I think things should look a lot worse if we were getting ready to go into free fall.
If you look at the previous uptrend, at what point did you consider it being broken to the downside? And at which point afterward did you consider it becoming a downtrend?
Yeah, to be fair though I have seen quite a few people in other places and rooms, still looking and wanting to buy. In the end though I go with what I am seeing on the charts. Think about this though - we actually have two types of desperate traders essentially. #1 We have a lot of longs trapped and some of them trapped much higher. #2 No ones knows this for 100% sure, but it's reasonable enough to assume we have aggressive shorter term and longer term shorts here. Overall I am very macro bearish. Not to beat a dead horse but this is building to look like 2007/2008 right before we have the actual massive move down. To finish up though and expanding on #1 and #2 we essentially get price action like we had today. Bearish acting, with quick explosive spikes up. So, if you're using people being overly aggressive or over loaded to the short side as a short term long scenario, I don't necessarily have an issue or disagree. Do not think that's a very strong case at all for a longer term bull scenario, nor would shorts alone be enough to counter act selling from larger players other than holding up the market short term. This of course is just my analysis and how I see it.
Hurry up and blow-up your account already so we don’t have to listen to your schizophrenic analysis and the same goes for Laissey fairey.
That's a horrible message and energy and vibes and karma to spread, You should say something very inspirational and moving and intelligent and profound....like.....Make a Million in the Market, Magician