Yes a weekly chart does however look at the daily chart and 4 ma
configuration there were 5 to 8 days of outside the upward trend
and outside of a wedge pattern for the 1987 chart. 1989
yes for sure, during 1987 the MA's were still sloping upward
slightly, not as strong as they are now but they were sloping up,
then of course price crashed through the 200 day MA and you had the
famous 1987 crash. Is it possible something that could occur
now? sure anything possible. Also remember that time
was different in that once that 1987 crash was over so was the sell
off. Instead of a bear market that would normally take 1 -
1.5 years, it was over instantly, the market bottomed on the crash.
The 1987 high was late Aug the low was mid Oct, only 2 months, is
that really a bear market in only 2 months? Or just a very strong
correction in the ongoing bull market of the 1980's and 1990's
secular bull. To me I bear markets last months at least a year and
more, to me was a very strong but very painful fast sharp
correction
again anything is possible guys, the 1987 crash is something
that could happen as it had a similar MA configuration as we do
now. otherwise my analysis points out that we are not
at the point where we would sell off in the traditional bear
market, that would be 4 - 6 months later IF the highs are in place.
This is not Oct 2000, this is not 2008. If not, then
this is one large 4th wave correction in the bull market
again guys - you really should look at a 100 year chart, go back
and look at each strong pullback, bear market and strong pullbacks
in the bull market, only then can you have a feel for things, and
think with a level head. Too many people lose focus and get
emotional right now now with all the chatter out there. DO
THE WORK, it will give you a clearer perspective than reading
twitter and cncb and zero hedge articles
so to be the 1987 case is the only possibility I see (though I
think the odds are extremely low) which obviously would be a very
bad one, but I dont' see see us starting the hard down leg of a
long bear market from here because of all the evidence I posted, I
could only see that say months from now after the indexes rallied
up to form lower highs
Sorry the last part got cut off. The 1989 and 1990 daily chart
showed a trend line or support broken well ahead of the major
selling. Most all major selling has warnings on the daily
chart for 3-8 days. The real questions is, will I or anyone else
heed the warnings? Matt and Steve where not bullish Monday,
Tuesday or Wednesday but rather cautious, I think because
that is what the chart and not emotions or predicting, showed.
I believe Matt and Steve are professional and good teachers
of the market.
Posted by jerkelly on 25th of Mar 2018 at 03:52 pm
I agree they are great teachers. I knew last week was going to
be trouble from Steve’s warning on Sunday and then Matt sounded
very cautious of a drop towards the middle part of the week. Both
turned out to be very prophetic. I think both are very good
at reading the charts
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Yes a weekly chart does
This scares me.
Posted by bk1976 on 25th of Mar 2018 at 03:23 pm
Yes a weekly chart does however look at the daily chart and 4 ma configuration there were 5 to 8 days of outside the upward trend and outside of a wedge pattern for the 1987 chart. 1989
yes for sure, during 1987
Posted by matt on 25th of Mar 2018 at 04:04 pm
yes for sure, during 1987 the MA's were still sloping upward slightly, not as strong as they are now but they were sloping up, then of course price crashed through the 200 day MA and you had the famous 1987 crash. Is it possible something that could occur now? sure anything possible. Also remember that time was different in that once that 1987 crash was over so was the sell off. Instead of a bear market that would normally take 1 - 1.5 years, it was over instantly, the market bottomed on the crash. The 1987 high was late Aug the low was mid Oct, only 2 months, is that really a bear market in only 2 months? Or just a very strong correction in the ongoing bull market of the 1980's and 1990's secular bull. To me I bear markets last months at least a year and more, to me was a very strong but very painful fast sharp correction
again anything is possible guys, the 1987 crash is something that could happen as it had a similar MA configuration as we do now. otherwise my analysis points out that we are not at the point where we would sell off in the traditional bear market, that would be 4 - 6 months later IF the highs are in place. This is not Oct 2000, this is not 2008. If not, then this is one large 4th wave correction in the bull market
again guys - you really should look at a 100 year chart, go back and look at each strong pullback, bear market and strong pullbacks in the bull market, only then can you have a feel for things, and think with a level head. Too many people lose focus and get emotional right now now with all the chatter out there. DO THE WORK, it will give you a clearer perspective than reading twitter and cncb and zero hedge articles
so to be the 1987 case is the only possibility I see (though I think the odds are extremely low) which obviously would be a very bad one, but I dont' see see us starting the hard down leg of a long bear market from here because of all the evidence I posted, I could only see that say months from now after the indexes rallied up to form lower highs
Sorry the last part got
Posted by bk1976 on 25th of Mar 2018 at 03:30 pm
Sorry the last part got cut off. The 1989 and 1990 daily chart showed a trend line or support broken well ahead of the major selling. Most all major selling has warnings on the daily chart for 3-8 days. The real questions is, will I or anyone else heed the warnings? Matt and Steve where not bullish Monday, Tuesday or Wednesday but rather cautious, I think because that is what the chart and not emotions or predicting, showed. I believe Matt and Steve are professional and good teachers of the market.
I agree they are great
Posted by jerkelly on 25th of Mar 2018 at 03:52 pm
I agree they are great teachers. I knew last week was going to be trouble from Steve’s warning on Sunday and then Matt sounded very cautious of a drop towards the middle part of the week. Both turned out to be very prophetic. I think both are very good at reading the charts