Nobody except for Mr. Nobody himself has noticed that SPX has telegraphed as of June 16th, 2022 that she is following the script of the Great Depression and not the Financial Crisis of 2008 w.r.t. the Retracement Grid. See for yourselves how beautiful this piece of knowledge makes our trading. We now know where to take profits for the entire leg down to wherever. The southbound train will stop for considerable time at each major station soutbound and at each of such stops the public on the train will experience yet another Bear market rally. Then the train continues south ................ What am I talking about? Great Depression SPX low = 4.4 2022 top for SPX = 4,818.62 Now draw your grid and then observe how SPX has thus far this year since the crash started generated 2 railway stations already, 4116 @ 23.6% retracement and 3684 @ 23.6% retracement level resply - what do both railway stations have in common? They show countless elitetraders cheering and dancing and prancing that the BEAR market is over and that a bottom is in. When SPX 3684 (23.6%) level gets taken out to the downside their agony will resume and they will remain quiet in terror as SPX goes tot he next station at 2982 (38.2%). Then they will party again with the BEAR is over, bottom is in call. Entire rally off the June 16th, 2022 low is a bear market rally that derives its power from the energy resident within the 23.6% monster support - sort of like food and drink to sustain.
Behold a BEAR market rally in Arizona BEAR markets = violent thrusts down and terrific thrusts north. Enough to shake rattle and roll one's brains from confusion.
This is who I am: there are several others like me but we are a minority This is what we do, this is who we are, live for nothin or die for somethin
It's a fun movie, when you want your head to go out of serious mode. *spolier alert* Has a sad ending though.
I do have a favorite ......... can you guess from what you see below? Trader MG (margin_gamble) = me = MG Trader Overnight = ON MG rides up treacherous terrain to get to ET. Arrives and adresses ON MG: Hi, I'm MG, you be Chief ON? ON: I am ON. I have heard about your type, you would not make peace with the gurus on CNBC. YOU may go in peace MG: I reckon not ON: Then you will die MG: I came here to die with you or live with you. Some wolves and countless antelope live here, so will I. Now, I'll only hunt what I need to live on and the sign of the TRADER will be on my Lodge. That's my word of Life! ON: And your word of Death? MG: Its in my bs hocus-pocus, asinine TA and in your outstanding FA. I'm here for either one ON: After a minute of deliberation ....... it shall be life
I'm going to dig it up to watch tonite as the Market might kill me tomorrow so I might as well have a nice nite. Thanks. Some Port Wine to go with the movie too
We KNOW this Ken. It has been happening for 7 months, and will continue to happen until the Fed stops QT, which will happen when Putin is no longer "there". Oy. I hate perma-bears.