$SPX if things really get going, there are gaps at 4,057 and
also 3,978 that have not filled. If you look at a longer view, that
could form the other shoulder of a reverse h&s pattern or of
course another view is, the wave completed upward and we are headed
back down to test 3,800s. Nobody knows, one level and one day at a
time. Risk/reward
the hope for the bulls would be that we completed an 5 wave move
up of wave A and we are in wave B pullback that will form a higher
low retrace 38% or more of the move off the lows but form a higher
low then rally again in wave C. Once wave C ends then it's down to
new lows. The bear view of course is that completed the move and
down from here. Both views are bearish, one simply allows for a
higher low B first
Here's a funny thing to note. Guggeheim strategist Scott M. was
making the tour on tv the very days the market bottomed off 3,810
before this rally. The exact days the Rydex Bear funds spiked and
confirmed the tradeable bottom. Hilarious shell game the tutes
play. He was calling for 2,600 at the time
Only people that buy this are new to the
game.
funny. Anyway like I said I wish we had real time access to that
data as it's SUPER powerful because the 'masses' collectively are
going to be wrong at those major bottoms. Clearly they keep that
data tight.
We don't really need the real time data anyway, we can still see
the spikes and if the market is headed down into major demand
zones, we still have a major advantage. It is like getting dealt
pocket kings.
$SPX if things really get
Posted by fundamentalvalues on 3rd of Jun 2022 at 11:01 am
$SPX if things really get going, there are gaps at 4,057 and also 3,978 that have not filled. If you look at a longer view, that could form the other shoulder of a reverse h&s pattern or of course another view is, the wave completed upward and we are headed back down to test 3,800s. Nobody knows, one level and one day at a time. Risk/reward
the hope for the bulls
Posted by matt on 3rd of Jun 2022 at 11:11 am
the hope for the bulls would be that we completed an 5 wave move up of wave A and we are in wave B pullback that will form a higher low retrace 38% or more of the move off the lows but form a higher low then rally again in wave C. Once wave C ends then it's down to new lows. The bear view of course is that completed the move and down from here. Both views are bearish, one simply allows for a higher low B first
Here's a funny thing to
Posted by fundamentalvalues on 3rd of Jun 2022 at 11:16 am
Here's a funny thing to note. Guggeheim strategist Scott M. was making the tour on tv the very days the market bottomed off 3,810 before this rally. The exact days the Rydex Bear funds spiked and confirmed the tradeable bottom. Hilarious shell game the tutes play. He was calling for 2,600 at the time Only people that buy this are new to the game.
Fade the furus
Posted by steve on 3rd of Jun 2022 at 11:19 am
Fade the furus
funny. Anyway like I said
Posted by matt on 3rd of Jun 2022 at 11:18 am
funny. Anyway like I said I wish we had real time access to that data as it's SUPER powerful because the 'masses' collectively are going to be wrong at those major bottoms. Clearly they keep that data tight.
We don't really need the
Posted by fundamentalvalues on 3rd of Jun 2022 at 11:25 am
We don't really need the real time data anyway, we can still see the spikes and if the market is headed down into major demand zones, we still have a major advantage. It is like getting dealt pocket kings.
Gap down. 90% of traders
Posted by kobie on 3rd of Jun 2022 at 11:05 am
Gap down. 90% of traders holding longs from yesterday. Friday.....