Posted on blog Nov 2010 and Jan 2011: The major correction in 2007/2008 was predicted by some market analysts including myself. It was not a âBlack Swanâ event that suddenly appeared out of nowhere. The charts made it very clear back then what was ahead and they are doing so again. My long term charts warn of another black swan market crash that 'nobody could have predictedâ http://stockmarket618.wordpress.com
My long term indicators continue to give bullish warnings for the dollar and I still expect a USD rally. (Nine_Ender are you awake yet ?)
DOW/S&P500 buying support detected earlier (posted on twitter) is confirmed. Daily and weekly charts remain bearish however. http://twitter.com/grandsupercycle
And now a reality check for you. Black swan effect may be ending as Japan deals with the crisis. Hysterical analysts predicting a "China Syndrome" seem out of touch with reality; never stopped these idiots from running their mouth but it is what it is. Amazing how many nucleur physicists post on here, but also amazing how many doomsday theories of all types get posted on this site. New doomsday theories every week is standard Elitetrade crap. Meanwhile, US recovery posts a huge Philly Fed number on Thursday, and many US banks are allowed to raise dividends today ( and they do ). Even jobs ( a lagging indicator of a recovery ) are slowly sprucing up. So what happens. No, the $US doesn't rise, it actually drops significantly ( buddy, are you seriously not aware what money printing does to a currency ? ). Oversold commodities retrace back up some today. US banks rise on good news. In my opinion, this bull market has one more leg to go before summer doldrums. The "correction" if we can call it may have run its course. If you kept your short positions you missed your exit. Monday morning is going to be a standard post-expiry squeeze on aggressive shorts. Feel free to post a real time trade on Monday to show us you know how to trade. This would be far more admirable then spamming the board with frequent top calls that mean nothing. Worse yet was your claim that recent drops were technical in nature versus entirely news driven. They weren't, claiming so only makes you look like a noob without ability. Hell, if you'd got on here last week and said "Short the uranium stocks now" I'd be impressed. But you didn't do this. Just how profitable was going long the US$ this week ? It seems like an extremely limiting trade to me. Many, many people on here should stop trying to call market wide moves and look at sectors and/or individual equities.
Despite recurring DOW/S&P500 buying support, their daily charts are not bullish which indicates increasing selling pressure. When this recurring buying support is overpowered by sellers, the downtrend will resume.
"Iâm sticking with my Feb 22 call that the DOW top on Feb 18 2011 signals the end of the rally.The very overdue Wile E. Coyote correction has arrived and a substantial leg down has begun" Longs please be careful. http://stockmarket618.wordpress.com
You are a permabear: http://stockmarket618.wordpress.com/2010/12/28/tues-dec-28/ Here you call a h&S with 10,500 target: http://stockmarket618.wordpress.com/2010/11/30/tues-nov-30/ Here you call for a "megaphone" reversal. You failed again: http://stockmarket618.wordpress.com/2010/10/26/1702/ and many other wrong calls. The question is: Aren't you tired of making wrong predictions and exposing yourself?