I can’t bear to watch.
See the green area on RSI – How long it’s been overbought? See the distance DOWN to the red line ( 200 Moving Average ) See the “rolling hills” of the MACD ( useless indicator anyway ) as price on the chart is so much higher…yet the near term “rolling hill” so much lower than the previous. Divergence baby – Huge divergence.
Even a correction down to the 50 MA will wipe any and all profits that anyone “envisions” prior to actually realizing them – and pushing the sell button.
This is the blow off top. How long she goes? Who cares! Just be sure to get out alive.
The most hated bull in history.
“See the green area on RSI – How long it’s been oversold?”
surely you mean overbought?
Wow. Nothing slips past you guys. Lol.
Thank you Karim.
What’s the catalyst for a drop to the 200DMA? And, what do PM’s do if that does occur? Is this time different??? I have always believed that “this time is never different” but what if the Fed has mastered propping the market up the past 8 years? They know what happened when they pulled the plug on QE … a big correction. Now, they are in the market non-stop. They may not allow a correction but a sideways muddling to allow the MA’s to catch up to the bloated pig market.
there is some contention that feb 2016 was not a correction, as if it was it was the longest correction in market history. it may indeed have been a mini bear that completed with only a 236 fib pullback from the 2009 level and the same sideways “pullback in time not price” that you note. if that is the case, it may very well illustrate how controlled the market is now: ie we cant even get a decent bear market reset. this (from feb 2016) may be the first major wave of a new bull market. those rolling hills on the macd may be the foothills of bubble mountain. the fed. res. has left rates too low for too long and is in danger of blowing yet another bubble. many similarities to 1997-2000. indeed the fed CANNOT allow a major correction, and investors are only too happy to play along, provided the fed has their back. look at volume. do you see any distribution? when was the last 300 mm share day on spy?
Interesting angle / view…and gee – only a million different ways of looking at right?
As you say this market is very controlled VERY!
It’s a slow grinder, What will be the catalyst for a plunge? “cat”….ok, Now WHO’S LONG?….It’s one of those Markets
right now, I’m more worried about my JNUG.. arghh
Its carnage out there but again……if you are “worried” ( perhaps on your next trade ) I soooo encourage you to trade smaller.
Once the “fear/worry” is removed….it’s like a new world.
March 15, 2017 is our pay day. Think Fed will raise interest rates ? 0% chance. On March 15, 2017 debt ceiling expires, expect more ”haggling” and ”drama” by our dear useless politicians for the next couple of months
So it remains to be seen..
Personally I think it’s a bigger deal than markets or media are letting on ( the debt deiling exp ) but ( as I’m sure you’ve read here ) others disagree.
Can’t see how it’s good for USD ( if someone else can explain a bullish view – please do! )
How does the U.S hit bankruptzy “again” raise the ceiling / pull money from Peter to pay Paul and it “benefits” the currency.
This one I gotta see…but again – in today’s world with the CB’s pulling the puppet strings. Anything can “and will” happen.
i know this is a forex site, but the post is about markets and indexes. so fwiw: 2400-2405 spx has a good fib. pivot, and should be a short term top. look to 2272 next, only a 236 fib pullback. if elliott wavers are right, 100-120 pts down is only wave 4, wave 5 could go to 2550-2557. the recent high rsi/tsi only sets up the next higher high in price as more divergent on rsi/tsi. market rarely backs off without pronounced divergence. its common for price to diverge higher for months on lower rsi/tsi. low volume summer doldrum grind may get wave 5 to august. we are living in CB controlled markets. there will be days this summer when volume will reach all time lows.
I command you Mitch! Please change your moniker to something more suiting “a gentleman” such as yourself.
Redemption baby. You’ve earned it. I apologize for my primate behavior earlier.
Great comment / great info /great insight as…..it does appear we are in the “ridiculous phase” and how high she goes?? I won’t be on board to find out or care! as I am essentially “already out” and only formulating “red candle type ideas” as far as stocks go.
Forex wise…I now look to ideas such as short AUD/JPY and other “red candle related ideas” as I prefer to pot shot these looking for downward action in risk appetite.
I’m not a downer! Just my time here near the top is complete. I am satisfied and not looking at “what I might miss” rather….”what I might keep”!
Go man go!
Are you shorting it? What is the signal you’re waiting for? It’s so tempting to short it, but it’s been like that for awhile, and could go on a bit more…
I’m not shorting US Stocks “via” a U.S stock rather…..through currencies / coupled with a play on gold.
2 things will happen when money pours out of U.S equities.
1. Gold will once again take it’s rightful place as a safe haven.
2. The Japanese Yen will shoot for the moon as all the “funny money” printed and loaned to the world by Japan ( The United States lil bitch ) at 0% – will come flooding back to it’s place of origin.It’s called “repatriation” ( look up some of my previous posts )
So long some safety ( gold ) and short nearly every other currency on Earth vs JPY ( short AUD/JPY, NZD/JPY , USD/JPY etc… ) – this IS essentially “short equities” just through a few different asset classes where the usual “U.S Fokery” has little chance of forking me.
No moss growin on me….consider this and get back to me with further questions.
“In some decades, nothing happens; in some weeks, decades happen.” Vladimir Lenin
incredible how mr kong keeps fading the bullmarket next dip has to be bought again thi bullmarket isnt over yet will go till 2020 tleast and many miss it like mr kong told him 2 years ago in his blog aswell he doesnt learn.
Each to their own mandalamala….there’s always money to be made on both sides of any trade.
I mange to do O.K with my analysis and trading. So….you are a buyer of this market then? Right here ? Right now?
Interesting….I guess you are all set then! No worried lil 2020. I wish you the very best of luck with that.