s&p 1m chart looks like a bull flag 3 times the charm? i'm a buyer with a break above 1915 but remains to be seen what happens after lunch
Same here (gold, anyway) although now tempted to take physical possession, considering the forthcoming shoe crisis.
FUNNY HOW THE MARKETS can be over BOUGHT for years and years and years and years but when it comes to OVER SOLD it should only last a couple of weeks to a few days....pisani said we are WAYYYYYY OVERSOLD!!!! HAHAHA Pisani: Another sign we are way oversold Bob Pisani | @BobPisani 52 Mins Ago Once again, the markets have opened up strongly. We'll see if they close that way. In the last four trading sessions: 1) A lot of stock has been sold 2) A lot of protection has been bought 3) Sentiment indicators are at historic extremes I struggle to describe how far some of these indicators have gone, but by any measure—option put/call ratios, movement in the VIX, or Relative Strength Indicators (RSI)—we are at extreme levels. Another indicator to look at is the 50-day moving average for the S&P 500, one of the most-watched technical indicators. According to our partners at Kensho, the S&P 500 is 4.35 Standard Deviations from its 50 day moving average. It's hard to describe how rare that is. To give you an idea of how far out we are, one standard deviation means that an event would occur outside the range 1 in 3 times. Two standard deviations one in 22 times. Three standard deviations one in 370. Four standard deviations 1 in 15, 787. 4.5 standard deviations one in 147,160 times That's where we are, between 4 and 4.5 standard deviations. What has happened here statistically happens somewhere between one in 15,787 and 147,160 times. Meaning, like, almost never. Kensho's data only goes back to 1980. There has been one time this has happened: August 8th and 9th, 2011, which is when Standard & Poor's downgraded U.S. sovereign debt. In the following week later there was a notable snapback: S&P 500: up 7.5% Russell 2000: up 10.4% Energy: up 10.4% Materials up 9.9% That's a good sign, which makes complete sense. Of course, this is only one datapoint, one event. Which highlights what strange times we are living in.
Very Nice.....Im just loading up because I know anything leading into a crisis, gold is always a little nice thing to own....once it breaks above 1200 and shorts begin to cover gold is going to skyrocket....Im not a gold bug nor bearish, just neutral. I just see it as a good time to add a little for a trade...
That idiot Pissani posted the same article after the first down day a week ago. Since then we sold off a mere 200 pts.:eek:
pisssini is always bullish, the economy can go into a full crisis and he will stand on the floor of the stock exchange saying just keep buying, one thing I love is seeing these fools during these markets drops, with over 6 years of non stop gains and a bull market that just keeps on going these guys have no clue what to do when things fall apart like they have the last week, now they have special programming at 7pm to keep you in the know of whats going on in the markets, like they are trying to calm those investors who went long the last 6 years to stay the course....this market is finally breaking, it took 6 years to get here but its finally happening, like I said the dow could get to 18,000, 20,000, 30,000 but the next collapse would take it all the way back to crisis lows below 10,000....
IMO there's only one guy on CNBC more annoying than Pissani and that is Jim Cramer. I can't stand his voice for even 10 seconds.