that’s bear market mark, possible but not this year, the big techs will have to crash by 50% to go there.
For example, Take a look at the monthly chart from October 1987. It really doesn't give warning to the 87 crash, but you'll notice that the monthly uptrend never waivered. However, pull up the weekly and the impending doom can be easily seen. That's what I see on weekly and monthly right now. i see long bias in the medium term ended and flat to down beginning----
Sorry, I am not intending to degrade ANYONE. I need to be very clear, I could not personally trade like you guys too. I can barely watch the algo work. Heart rate increases, occasional cold sweats and want to wet myself. My hats are all off to all the regulars. If I point out anything like the above, it is because I have done it more than a few times, probably more than a handful of times, and in fact dozens of time on somethings. I have given up so many gains being greedy, second guessing, fatigue, hubris and just straight up dumbness. At this point I am like some smart ass, no skin in the game, armchair after the fact pontificator! That being said, I appreciate the community and will always try to add some value to the thread.
No need to set yourself on fire over my silly comment. Your input is always appreciated, so carry on with your spamming.
this was meant to be 5350-5400, not 4350-4400! People must have thought I was nuts lol not sure how I mistyped that so bad still looking very weak here to me …
The September script is playing out nicely so far having already retraced 47 % of August's range closing down 4.25 % on the month today. I can't pretend to have any idea where this is going, but wouldn't be shocked if we do take out the August lows by end of month.
End of the month?? At this rate, I wouldn't be surprised if it gets taken out next week. I don't believe this is just a minor correction like the ones in April and July. I think this could actually be the start of a full-fleged bear market. When this is all said and done, we could be looking at 50% correction. FYI, ES tanked 47% and 53% in 2000 and 2008 bear markets, respectively.