This page has been archived and commenting is disabled.
Make or Break-Chartology
With Markets falling hard in today’s session, let’s review some important Index Charts. We wrote of the big sell formation last week. We are now trading on those support levels. Will the market fool everybody again, bounce up, and confuse both bulls and bears?
As HFT are dominating all trading, we might just get that flash crash again. Market is sitting on critical levels, especially the SPX. Below charts with important levels to watch. Make or Break, yet again.
SPX sitting on the Edge….
NDX on some critical support levels.
Stoxx 50. Off the lows and trapped in a short term trading range.
DAX. Also off the lows, finding a trading range.
Spain Ibex Index also off the lows.
The biggest Dog of all, Hang Seng, has put in a formidable sell off lately, not receiving the attention we expected. Remember, this is the growth market….
»
- advertisements -
Really thats the play?
Good luck with that project it sounds like a crazy gamble to me but it we gonna gamble then lets do it.
Long term trend is down regardless of you want to see ... right now is just a test on the bottom of a sideways channel if it fails you loose MASSIVE if you win you win BIG TIME.
not me
Three card monte....I love that game, haven't played in years though.
Indian poker is a great game too. Boy, do I miss those days.
Now if they were to have prostate examinations and nobody showed up, I could relate to that.
Ask people in Japan how that 'any day, week, year, decade now' bounce has worked out for them.
Hell, ask anyone who's been long in nominal terms in U.S. equities since 1998 or long in REAL TERMS since about 1986 how it's worked out (and that's before all the rigged "let's paint the pig that are indexes as pretty as we can by rejiggering them" game is played, akk GM and hundreds of other stocks delisted/gone to $0).
Equity markets are the greatest scam played on populace in the history of the world, with the lone exception of fractional reserve banking (which makes modern equity markets casinos - the comparison an actual insult to casinos - possible).
Equity markets serve only the sell-sider, bullshit & con artists that make their money whether markets soar and crash and burn.
It's one, gigantic scam.
And Jeremy Siegel and his ilk are charlatans and frauds for spinning the equity markets in a way that attempts to lend them an air of academic credence and investing virtuousity.
"It's one, gigantic scam."
yup. "Capital formation" my ass!
My attitude is..."suppose they gave a three card monte game and nobody came?"
technical analysis is phrenology with leverage
Concerning 2008 vs. today, it's different this time.
Back then, the criminals were thinking of one last "pump-and-dump" scheme for equities. They got it with QE games.
This time, the criminals know they can't get away with it again - I mean it, they won't get away with it again. Too many people are onto their games. There isn't enough "dumb money" remaining to be suckered in any meaningful way.
You've seen the pump. Now, the dump.
If a financial turd wrapped in paper falls from the sky, and hits solid concrete, is it performance art, or frequent flyer miles - or both? Or, is it just some shit no one cares about? I see a parallel here..............................
WTF over?
some ugly ass charts. there are better free ones out there.
SPX 620 here we come!
It will keep bouncing like a ball going down the stairway to hell...
I talked to some people with healthy IRA accounts. At least they are now.
And many shrugged me when I said the market could crash.
Two of them said the market will pop back up just like it has in the past. "It always does".
This is the line that got me the most. "It always does". Two of them repeated that same line.
One of them said he trust his advisor. There just seems to be too many who do not believe the market could crash hard.
The market is NOT worth the risk to me.
"There just seems to be too many who do not believe the market could crash hard."
I know a few people like that also. I always tell them that it always seems impossible...until it becomes inevitable.
If you turn these charts upside down, they look extremely bullish. Is that a bad sign?
Your trendlines are almost meaningless, exactly what are you drawing them off of, other than a universal angle and separation? And wasn't your punch line this morning looking for the doji bull hammer of Thor and a major reversal? Go away, yer' botherin me, son?
I thought it was just me... looking at those charts trying to figure out why the lines were drawn where they are. I know my charting leaves a lot to be desired, so take it with several grains of salt when I tell you I would have drawn them very differently... Same conclusion, more or less, but differently.
u r the stevie wonder of trendline drawing. u & phoenix capital should open a fund called dribble & poop, llc
Personally, I think the fix is in folks, Look at the VIX, Look at what Germany is getting ready to do, Look at the S&P support, or lack there of and a number of other "telling" indicators.
There is only one way to pull this out of the toilet, but I don't think the Fed's have it on there ballance sheet IMHO. Let it crash like it was supposed to in '08, granted, we will have a whole lot of pain comming but that's what happens when the markets / Banks get put on life support.
The whole Model has been broken at this point.
Gotta run, Cramer is comming on!!
The Bad Guy..
No bounce this time folks, sorry!