DrStool

5 day cycle projection drops to 2660.

a couple of downtrend lines converge on the hourly at 2687. Normally I'd expect a pivot there. Also, it's 10:30 turn time. Watch this closely. If it does not hold, there will be a buying vacuum. No bids.

Again, the Dow blows a 500 point chunk and the market hasn't even been open an hour. That thousand point down day is coming. Maybe two thousand.

I refuse to gloat. If I gloat, the market will have a rocket launch. I'm actually kind of sad. If this is the collapse, many of my friends and relatives are going to lose a lot of money. They're not traders. They're long term investors. Most are in their 60s and 70s. They ask what I think. I tell them. You should not be in the market. They're paying you to hold T-bills. Rates are going up. Just keep buying them and rolling them over. And then they ignore me. They'll ask me again after it's too late, and then I'll ignore them. It's just sad.

CLEAR!

Looks like no dead CAT bounce.

5 day cycle projection now looks 2667.

2 day cycle projection 2704 pretty much done. 3 day cycle projection 2698, but it's early. Must allow for some flex on that. 5 day, 2693

Dow stocks slow to open. Unlike SPX it hasn't broken the low yet.

Panic now. Avoid the rush.

There she goes.

The October 11 low was 2710.50. They'll probably take it out and then bring it back. Crash will have to wait till this afternoon.

That is just spectacular. A thing of beauty.

Clear!

"any rally that fails to clear resistance in the 2817 area would be a sign that the 6 month cycle up phase would merely be a consolidation in a new bear market. Conversely a drop below 2700, and particularly 2690, could ignite a crash." http://wallstreetexaminer.com/2018/10/here-are-the-keys-to-whether-stocks-crash-or-rally/