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aussiebear

World Stock Markets Trading Discussion - Vestigal verdigris

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This has potential maybe. 

 

That looks like a bear flag on the S&P daily chart.

The risk and reward looks good here for a short.

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This has potential maybe. 

 

Note the conviction behind that statement. 

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Note the conviction behind that statement. 

Certainty will make you poor eventually.

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Really pouring over the charts today.  Energy sector looks sickly, XOM ready to get dumped like Tillerson.  The momo stocks FANG,NDX,COMP,BTK, etc at marginal new highs but everything else is well below early Feb highs including BKX as well as most foreign markets.  I am with Doc, this looks like it is the grand finale luring in the last of the suckers.  Watching the VIX dry up and how the DOW pattern unfolds on smaller timeframes at the end of this thing and expect boring week coming up, not quite ripe. Should offer very juicy trading when it does make the break! 

 

VIX options control palpable yet again....will be until it won't......We be on the cliff of oblivion.....

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In French, they call this "Distribution."

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Pin the week at 2750-2755.

Runaway gap down on Mondaey.

 

Closed at 2752.01!

Now let's get the GAP DOWN and go on Mondaey.

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There is no possible good news at this juncture. Better minds than mine may differ.

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We could see the start of a substantial sell off Monday, probably.  (one slightly more degree of positive than maybe) :lol:

I can't help but notice the Dow is a textbook Elliott contracting triangle  The common move out is equal to the base (wave a ) and that would take us right to the upper channel trendline of the entire bull market from 2009 on monthly semi-log chart.  A non-limiting feature in this triangle indicates it has a good likelihood of going further. Each wave is in precise Fibonacci ratio to the base wave a:  b=.68a, c=.50a d=.38a.  You don't see them with such perfect fractal symmetry very often. The bad news is with a triangle in this position the complete move down can only be seen as much larger degree A, not as bearish if it were a Wave 3 with massive impulsive structure.  But first things first.  I will be using that bottom trendline of the triangle to trigger a short position trade.  I am comfortably retired and not privy to daytrading especially when the weather is nice out but sometimes I like to play the biotechs intraday when the market has got a solid intermediate trend going.  Good luck trading everyone.  I am becoming much more concerned about the escalating chaos within our White House than the markets.  I have never witnessed anything like this in my lifetime and I have lived through an awful lot of shit!

post-10689-0-48309300-1521238268_thumb.jpg

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We could see the start of a substantial sell off Monday, probably.  (one slightly more degree of positive than maybe) :lol:

 

The stock market determines Trump's fate. If it falls, really falls, he is done.  If it doesn't he's in. 

 

The market determines all now in our age. It is our God. A false one mind  you.

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We could see the start of a substantial sell off Monday, probably.  (one slightly more degree of positive than maybe) :lol:

I can't help but notice the Dow is a textbook Elliott contracting triangle  The common move out is equal to the base (wave a ) and that would take us right to the upper channel trendline of the entire bull market from 2009 on monthly semi-log chart.  A non-limiting feature in this triangle indicates it has a good likelihood of going further. Each wave is in precise Fibonacci ratio to the base wave a:  b=.68a, c=.50a d=.38a.  You don't see them with such perfect fractal symmetry very often. The bad news is with a triangle in this position the complete move down can only be seen as much larger degree A, not as bearish if it were a Wave 3 with massive impulsive structure.  But first things first.  I will be using that bottom trendline of the triangle to trigger a short position trade.  I am comfortably retired and not privy to daytrading especially when the weather is nice out but sometimes I like to play the biotechs intraday when the market has got a solid intermediate trend going.  Good luck trading everyone.  I am becoming much more concerned about the escalating chaos within our White House than the markets.  I have never witnessed anything like this in my lifetime and I have lived through an awful lot of shit!

 

Great post! 

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The stock market determines Trump's fate. If it falls, really falls, he is done.  If it doesn't he's in. 

 

The market determines all now in our age. It is our God. A false one mind  you.

 

What other kind is there? 

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