R.S. of Houston Workshop Tel: (281) 286-9736 http://www.rsofhouston.com Marketing mail: "First, the market is very negative and has a lot of downward momentum and the decline angle is very steep. Overall the rallies will be sold into and for the most part be false and abortive, but there will be some bear market rallies and They Can be very Wicked Spikes up Like Sept 18th & 19th and Oct 13th & 14th & 28th.. We are now into our area and pattern looking for a sell. If we take out today's Monday Nov 3rd low, it will signal a possible leg down. It also has the possibility of a large down move, but at the very least a test of the 870 to 900 level would be in The cards. Many of the TV analysts are cheering the bottom is in and saying it's time to get Bullish and all the negative factors are priced into the market.... Just remember this for all you who are looking at the long run and managing your 401Ks /retirement accts. and Investments. There are still a lot of problems that have not surfaced yet, other shoes to drop so to Speak. The Powers that be (the Fed and others) may just know this and that's why they are desperately taking The measures that they are. Drastic and Many. Also remember, Where is the Engine that will drive the new bull market if we ever get one in the coming years? It won't be the housing / real estate Boom like we've had, That's been played out for possibly decades. The free flowing credit to anyone who can Fog a mirror days are gone. So where will the next stock market bull come from? Where will it get its legs so to speak to run? That's the Proverbial $64,000 question (now a million on 'Are you smarter than a 5th grader', with inflation added in) It's just not Going to be there. The world as we knew it is gone. A new valuation of all things or a new paradigm. Well, This is just Backdrop of what our simple patterns will telegraph. If you look on the Monthly and Yearly Charts on the Stock Indices, Our patterns will be very clear on where we came from, where the top was and where we are most likely going. Its not pretty, And our patterns show us the long term possibility of going to about Dow 5000 to 6000 pretty easy. Will it happen? Nobody Knows, but the patterns are showing this a very real target. For the short term, we are in our Sell Zone now and so you should Be looking to surf the new wave that is coming. Be prepared. Be realistic and protect your investments. That's our advice to All you who follow us. The big question is: Will the leg down be for 2 to 3 days or a week or two? We don't know, so we let the Market dictate how we manage the trade. In any event we don't see a sustained rally, There is also the possibility of a crash from here, so we don't discount that If you don't know this, remember crashes occur not from overbought areas, They occur when markets appears oversold and then the trap door falls out. There will be some sharp bear market rallies, but the patterns telegraph what's really happening and that's what we see until it changes. Remember, no one knows for sure where a market is going, so when taking advantage of these trading ideas, always use good money management. That's where we excel, very tight stops when We initiate trades. They either go your way right away or not......
getting interesting again, back in play. 1005 will be strong resistence(was a huge support area), chance of breaking on first try is pretty low. haba haba!
Usd/jpy selling off ... daily continuation sell? If so ES may as well sell to 70-80 level before next leg up.