DrStool Posted August 28, 2020 Report Share Posted August 28, 2020 That's the next S&P fucutures 5 day cycle projection in this perfect stairstep advance. It feels disorderly during the day, but trends don't get much prettier than this on the charts. The daily bar chart is ridiculous. They're at the top of the channel here, so it could be interesting if they do pull back. The bottom of the channel is around 3400. I wonder if the next top will be a massive year long affair as is typical, or a compressed slow motion hairpin turn over a week or so like the last one. Having a crash off a top like that was previously unprecedented. But now there's a precedent! Link to comment Share on other sites More sharing options...
DrStool Posted August 28, 2020 Author Report Share Posted August 28, 2020 LEE'S FREE THINKING, NY FED OPERATIONS Fed QE Today 8/28/20 by Lee Adler • August 28, 2020 Today’s scheduled purchase is an unusually large one for a single day. Here’s why, and why it could top out the market. Link to comment Share on other sites More sharing options...
DrStool Posted August 28, 2020 Author Report Share Posted August 28, 2020 Trend support is at roughly ES 3483 in the 6-7 AM ET hour. It rises at about a point per hour to around 3487 in the opening hour in NY. Good times. Link to comment Share on other sites More sharing options...
Jimbo Posted August 28, 2020 Report Share Posted August 28, 2020 THE PRICE OF AN APPLE PART 2 Now selling for 40 times earnings. The year started as 2008 and is ending as 2000 Amazing what 3 trillion from the Fed can do. Well wait until September. Beware October seems to be a growing theme. Theres a blow off top somewhere up here I just dont know where. Link to comment Share on other sites More sharing options...
DrStool Posted August 28, 2020 Author Report Share Posted August 28, 2020 That lower trendline is actually around 3484 now. And give a point or two. Link to comment Share on other sites More sharing options...
jp6 Posted August 28, 2020 Report Share Posted August 28, 2020 2 hours ago, Jimbo said: THE PRICE OF AN APPLE PART 2 Now selling for 40 times earnings. The year started as 2008 and is ending as 2000 Amazing what 3 trillion from the Fed can do. Well wait until September. Beware October seems to be a growing theme. Theres a blow off top somewhere up here I just dont know where. Just now, jp6 said: First time in Long time I will be looking to short the market. When the Baby is ready. Link to comment Share on other sites More sharing options...
potatohead Posted August 28, 2020 Report Share Posted August 28, 2020 19 minutes ago, jp6 said: is that volume bars at the bottom of the chart? Link to comment Share on other sites More sharing options...
DrStool Posted August 28, 2020 Author Report Share Posted August 28, 2020 One week trendline break. Let's see if it sticks, or reverses. Link to comment Share on other sites More sharing options...
jp6 Posted August 28, 2020 Report Share Posted August 28, 2020 25 minutes ago, potatohead said: is that volume bars at the bottom of the chart? Yes Link to comment Share on other sites More sharing options...
potatohead Posted August 28, 2020 Report Share Posted August 28, 2020 1 minute ago, jp6 said: Yes Wouldn't that be a massive divergence from 2008? Or is volume on these longer term charts really relevant? Link to comment Share on other sites More sharing options...
jp6 Posted August 28, 2020 Report Share Posted August 28, 2020 When the wheels fall off. They are all going to blame the virus not the Fed. Fed has pumped the market up and that is why we are in trouble. If they let the market fend for it self in 2009 then most of the dead corporation would have gone under. No share buy backs and real investments in bushiness. Now we have Zombies corporation every where. Link to comment Share on other sites More sharing options...
jp6 Posted August 28, 2020 Report Share Posted August 28, 2020 3 minutes ago, potatohead said: Wouldn't that be a massive divergence from 2008? Or is volume on these longer term charts really relevant? Yes there is a divergence. When public get involved in mania then top isn't far away. Y2k and 2008 Housing. https://stockcharts.com/public/1900133 Link to comment Share on other sites More sharing options...
potatohead Posted August 28, 2020 Report Share Posted August 28, 2020 4 minutes ago, jp6 said: Yes there is a divergence. When public get involved in mania then top isn't far away. Y2k and 2008 Housing. https://stockcharts.com/public/1900133 Seems like retail is either a trader or passive investor at this point. Do you think they are all in at this point? Link to comment Share on other sites More sharing options...
jp6 Posted August 28, 2020 Report Share Posted August 28, 2020 9 minutes ago, potatohead said: Seems like retail is either a trader or passive investor at this point. Do you think they are all in at this point? Public Got involved at march low. Passive has been going down https://www.macrovoices.com/876-macrovoices-233-jesse-felder-how-long-can-stock-market-mania-continue Link to comment Share on other sites More sharing options...
fxfox Posted August 28, 2020 Report Share Posted August 28, 2020 Who says that the March low was not already the 1932 +89 (88) years Fibo projection low? This was a very serious downmove we had. In the US it was somewhat contained, espacially in NDX. When you look globaly, many indeces went down 50% and more. That is NOT nothing. In past decades it would have taken 12-36 months or so to make a 50% downmove. Just the fact that it now took only a few weeks doesn‘t mean nothing happened. Pricewise A LOT happened. Bears are often too greedy. They are as greedy as bulls. If you gave Noland 1 million in 1995 you would be a chlochard right now. Maybe a greeter at Wal Mart. Link to comment Share on other sites More sharing options...
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