Posted by fredsaid on 26th of Mar 2023 at 10:49 pm
Commenting on posts from the weekend - The type of volitility
we've seen last week is reminisent of a week before a colllapse but
after looking at the technicals it has serious potential of a bear
trap as well. At the risk of talking out of both sides of my
mouth, that is where we are. No Mans Land, Cash is King.
My 401K is 100% in global bonds. The $ looks ready to
give up so should see a rally to trap the suckers along with oil
basing/down and gold down this week..perfect backdrop for the gold
and energy rush into the summer. News will say it's based on
China re-opening and some other crap. Short of a break below
3750 before month end, I'm looking to build positions in (in this
order) Wheat, GUSH, more widow maker (not my fav), Long IWM, Banks
and Dow since if we are going to rally, we need to bring the troops
on board. My focus and expectation is still more hellfire in
the banks to fit the script i've outlined ... April bail out ?
Here is an EW analysis of S&P500:
https://www.youtube.com/watch?v=9M8sLn5ETBo. A likely scenario
is one more thrust lower (the first count mentioned) and then up
into the end of the month as a trending move. Or a triangle
scenario not mentioned there of a range-bound market for the week
for the 4th wave, and then followed by wave 5 up into April.
Commenting on posts from the
Posted by fredsaid on 26th of Mar 2023 at 10:49 pm
Commenting on posts from the weekend - The type of volitility we've seen last week is reminisent of a week before a colllapse but after looking at the technicals it has serious potential of a bear trap as well. At the risk of talking out of both sides of my mouth, that is where we are. No Mans Land, Cash is King. My 401K is 100% in global bonds. The $ looks ready to give up so should see a rally to trap the suckers along with oil basing/down and gold down this week..perfect backdrop for the gold and energy rush into the summer. News will say it's based on China re-opening and some other crap. Short of a break below 3750 before month end, I'm looking to build positions in (in this order) Wheat, GUSH, more widow maker (not my fav), Long IWM, Banks and Dow since if we are going to rally, we need to bring the troops on board. My focus and expectation is still more hellfire in the banks to fit the script i've outlined ... April bail out ?
EW
Posted by junkie on 26th of Mar 2023 at 11:31 pm
Here is an EW analysis of S&P500: https://www.youtube.com/watch?v=9M8sLn5ETBo. A likely scenario is one more thrust lower (the first count mentioned) and then up into the end of the month as a trending move. Or a triangle scenario not mentioned there of a range-bound market for the week for the 4th wave, and then followed by wave 5 up into April.
Was this guy an auctioneer
Posted by fredsaid on 26th of Mar 2023 at 11:48 pm
Was this guy an auctioneer in his past life? I almost bought a car.