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How the equity indexes are replaying the October 2009 earnings season
If 1126.25 goes, next major support is 1109.
Update: A bit more explanation is probably warranted here. Each of the breaks leads to a shakeout, which may be as little as one day. However, given the similarity between the current news calendar (earnings plus GDP next week) and the same time in October, the likelihood of a longer selloff into the end of the month is more likely.
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Look at the Dow on a weekly chart, and the MACD that goes along with it. Today, it turned NEGATIVE. Last time was Late '07. Before that March '00, Fall '90, Sep '87. This time, things should be much worse.
Long term indicators are screaming that this is the next wave down in a secular Bear market. Course of action from here:
1) Sell ALL stocks and bonds.
2) Buy physical Gold/Silver Bullion and have delivered.
3) Turn off CNBS
4) Start planning garden for spring.
MACD is wicked bullish on a monthly chart.
So much for technical analysis using MACD.
12, 26, 9 MACD is stochastic default club trash.
no offense QT, but don't hate on TA just cause you're looking at garbage.
Four Basic Qualities of Great Technical Indicators & The "Stochastics Default Club"
I love the threads here.....just love 'em. The biggest mistake I always make is by being too quick....too far ahead. The herd is a lot more stupid than I give them credit for. We have a turning point, clearly. Ride it down. It will take months, not weeks...or days. Months. Enjoy the ride down, and be patient.
The commentary makes me laugh. besides the fact that goldman controls the entire market know. It's going to drop when they want it too. not before. we are amlost back to the open, I thought I may actually have to sell something today.
I hate posters who actually think the market funcions in a nomal manner
this all seems so familar, stocks continue higher into the first two weeks of January, then a long cold winter. most of the bullish percents are in positive territory, though at the high end of the range. The bulls have been picking up dimes in front of the bulldozer, and now they give three or four weeksof profits back in three or four days. then they double down and buy the dips, and then all hell breaks loose.
what you need to consider is this: a) Options expiration was last week, and the Fed (PPT) does their best work during the week of options expiration, and this is a long month.
b) money comes into the market the first of the month (check the charts) which I call the Food Stamp Effect.
c) don't get caught short in either situation, and you can (probably) game this market. expiration week is especially dangerous when the market is correcting, but if you bought each of the months in that chart the last day of the month you did alright. Course now its time for that pattern to change as we revert to the bear
Based on you non-sensical "food stamps" effect... July 10th @ 829 was a "sell". Course it finished up >10% from there.
Weak.
I was watching the same pattern on the SPX - Want to get cute with it? Look at it on a daily chart with the BB's coming in. Here is a post where I looked like an idiot calling the same thing from Dec 07.It worked well coming into the last trade, but once the wedge/top crossed the 7 to 9 day limit, that should have been the clue to fhugeddaboutit.
http://shankystechblog.blogspot.com/2009/12/look-at-daily-spx-and-all-th...
My previous bearish warnings for stocks is now confirmed.
My previous USD bull and EURO bear warnings are also confirmed.
UPDATES:
http://www.zerohedge.com/forum/market-outlook-0
In early 2007 I warned of an impending stockmarket crash.
I confirmed a bottom by early April 2009.
In mid 2009 I warned of an impending USD rally.
The uptrend since March 2009 has been a bear market rally contained within a much larger bear cycle that started in 2000.
ok, grand wizard. So what should I be buying today?
I'm using the bump in USD to buy more gold and silver :)
FRMSF for me.
Make sure you don't spend all you've got on what grand wizard tells you to buy today. You'll want to set a little aside so you will have enough to buy more liquor and ammunition tomorrow. <grin>
ok, grand wizard. So what should I be buying today?
the likelihood of a longer selloff into the end of the month is more likely.
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really? the "likelihood" is "more likely". How about do not write a sh*t.
So the 1st, 2nd, and 5th circled patterns are followed by nice up moves.
While the 3rd and 4th patterns are followed by down moves.
Hard to say there is any bias there?
Just do the opposite of what I do, you'll be sure to make money.
Can you post your trades? Sorry , could help it.
Sure, I'm shorting the Jets.
outstanding, Daedal.
tragically, my heart is long.
just as long as +3 turnovers occurs and sancheezy isn't allowed to play catch more than 12-13 times.