Would a break below the support trendline in the last chart on the SPX be more of a bear/short signal...or...would taking out the last break low of around $1304 on the daily chart be the one to look for? Would a close below $1304 not signal a failure of the SPX not to hold the higher high?
Also, we finally got a Macd cross on the daily ES.
It's hard to sell this freak show short knowing Benny is really committed to dollar death, but I do find it encouraging for the bears that the USD has not simply fallen out of the sky.
haha, thats hilarious! If the SPX can close below 1304, a pattern of lower highs and lower lows would develop on the hourly chart, thats technically considered a downtrend. That would also validate a reversal pattern on the daily chart. I hope that helps
I'm waiting for SPX 1292 before getting back in to short. Good charts! My strategy - I'm expecting a black Swan event soon which will create a waterfall collapse in the markets. There are so many ticking time-bombs out there - its only a matter of time before one of them goes off.LOL.
I agree Y2K. Nothing short of an alien attack or an Ebola outbreak will reverse this nonsense. You know the opportunity is ripe when what caused the 20% slam last year now causes it to levitate! How much more can this supposed "cake" hold if everything is baked in?
I've also had my fingers crossed for a little 15 VIX action for months and it appears we'll get it.
LOL ... I keep moving my entry point to just below the trend-line waiting patiently like a Lion after its pray. I think once it breaks we can expect, like in 2008, 50 to 100 point SPX down days. SPX 800 or even test of SPX 666 this year I hope. I'll bring some wood!!!!
Would a break below the support trendline in the last chart on the SPX be more of a bear/short signal...or...would taking out the last break low of around $1304 on the daily chart be the one to look for? Would a close below $1304 not signal a failure of the SPX not to hold the higher high?
ReplyDeleteAlso, we finally got a Macd cross on the daily ES.
It's hard to sell this freak show short knowing Benny is really committed to dollar death, but I do find it encouraging for the bears that the USD has not simply fallen out of the sky.
haha, thats hilarious! If the SPX can close below 1304, a pattern of lower highs and lower lows would develop on the hourly chart, thats technically considered a downtrend. That would also validate a reversal pattern on the daily chart. I hope that helps
ReplyDeleteI'm waiting for SPX 1292 before getting back in to short. Good charts! My strategy - I'm expecting a black Swan event soon which will create a waterfall collapse in the markets. There are so many ticking time-bombs out there - its only a matter of time before one of them goes off.LOL.
ReplyDeletewtf
ReplyDeleteI agree Y2K. Nothing short of an alien attack or an Ebola outbreak will reverse this nonsense. You know the opportunity is ripe when what caused the 20% slam last year now causes it to levitate! How much more can this supposed "cake" hold if everything is baked in?
ReplyDeleteI've also had my fingers crossed for a little 15 VIX action for months and it appears we'll get it.
Let's get this bonfire started!!!!!
LOL ... I keep moving my entry point to just below the trend-line waiting patiently like a Lion after its pray. I think once it breaks we can expect, like in 2008, 50 to 100 point SPX down days. SPX 800 or even test of SPX 666 this year I hope. I'll bring some wood!!!!
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