thanks piezoe with the recent price action the past 2 weeks, it looks like the analog is still on point and ripping all the bears to shreds. =]
Here are a few of my charts in which why I believe the market is ripping higher. Again this is coming from a bear who was short all of 2015, but Oct 2nd reversal was pretty significant. I kept it real light, because I don't want too much of my real methods to be shown. Biotech Indexes have hit major support and reversed as well as some key biotech stocks. I don't think biotechs have bottomed, but with them bouncing, it will help the market push up. I still might reshort biotech if they bounce higher, but for now I will just watch. The only thing that I am still concerned with is the Nikkei 225. It still has not hit "my target" from its peak earlier this year...while the U.S. indicies already have. The Japanese Yen also seems to be heavily manipulated lately.(Just look at the tape from post August 24th) In my current analysis I believe oil, silver, gold, and commodities have started to bottom and technically bonds look to be at a significant top. As commodities push higher and lead us to the end of the short term debt cycle, yields will rise regardless of the Fed.This in turn will start to help the financials pick up and lead them out of their bear market such as Barclays. Ray Dalio was also quoted saying fundamentally we are similar to 1982-87. 15:55-16:30. So in summary, while everyone sees the major topping pattern that developed in 2015, and the traders looking at the tree think we are headed for doom.....if you look at the forest.... the 1984 roadmap is very interesting to get a different perspective of a similar past. Because no matter how you look at it, we are still in a bull market in the larger timeframe.