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.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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