DrStool Posted October 23, 2023 Report Share Posted October 23, 2023 First, Beware of Bear Market Crash Potential LEE ADLER 2 - TECHNICAL TRADER OCTOBER 23, 2023 Technical signs of an intermediate bottom forming have broken, and cycle projections now point lower. Multiple failed buy signals mean that the market is currently more vulnerable to a crash than has been the case for a long time. Watch out if the market breaks down on Monday. Here’s what to look for. Non subscribers click here to access. Technical Trader subscribers click here to download the complete report. Not a subscriber? Get price and time targets, and weekly swing trade chart picks, risk free for 90 days! As for today, here's what we're lookin at, first on the 2 hour bars of the ES, 24 hour S&P futures for perspective. They took out the early October low by 10 points this morning but now they're trying to mount that V bottom. The 5 day cycle projection was 4205. That was blown out. The hourly oscillators got buried, so maybe the market is sold out. Or maybe not. It depends. First they need to get through downtrend channels around 4215 in the opening half hour of New York trading. If they did that, then they would target the next downtrend at 4240. But let's imagine that they don't clear 4215. Then what? Might be vectoring toward the 4150-60 area. For moron the markets, see: Beware of Bear Market Crash Potential October 23, 2023 Swing Trade Screen Picks – Which is Better, Late or Never? October 23, 2023 When the Market Is Ready, an Event Will Appear October 16, 2023 Dealers Pull In Their Horns October 14, 2023 Veal Market – Baby Calves Get Slaughtered October 9, 2023 Gold Breaks Down, With Long Term Implications October 5, 2023 Tepid Tax Collections Mean It’s the Supply October 4, 2023 The Rhymes of History September 24, 2023 If you are a new visitor to the Stool, please register and join in! To post your observations and charts, and snide, but good-natured, comments, click here to register. Be sure to respond to the confirmation email which is sent instantly. If not in your inbox, check your spam folder. Link to comment Share on other sites More sharing options...
DrStool Posted October 23, 2023 Author Report Share Posted October 23, 2023 Just broke the earlier October low during regular trading hours. Significant? Link to comment Share on other sites More sharing options...
SiP Posted October 23, 2023 Report Share Posted October 23, 2023 Everyone knows this chart that's why 4190 on spx is so important. Link to comment Share on other sites More sharing options...
DrStool Posted October 23, 2023 Author Report Share Posted October 23, 2023 Oh well, there's the V. Link to comment Share on other sites More sharing options...
fxfox Posted October 23, 2023 Report Share Posted October 23, 2023 Tomorrow after ze bell: Mafiasoft, Alphabet, Visa they gonna save the world anyway… Link to comment Share on other sites More sharing options...
DrStool Posted October 23, 2023 Author Report Share Posted October 23, 2023 So what do you do here. Buy the stocks with the most bullish trend patterns, or short the ones with the weakest? Link to comment Share on other sites More sharing options...
DrStool Posted October 23, 2023 Author Report Share Posted October 23, 2023 I just went through my list of strong stocks and most look like shit. A few have rallied back to resistance. No trend breaks yet. Now, I'll look at the weaksters. Link to comment Share on other sites More sharing options...
Takachi-1 Posted October 23, 2023 Report Share Posted October 23, 2023 wait for the tell Link to comment Share on other sites More sharing options...
DrStool Posted October 23, 2023 Author Report Share Posted October 23, 2023 3 minutes ago, Takachi-1 said: wait for the tell what would be your tell I think mine is 4215. Link to comment Share on other sites More sharing options...
DrStool Posted October 23, 2023 Author Report Share Posted October 23, 2023 Maybe 4323 Link to comment Share on other sites More sharing options...
Takachi-1 Posted October 23, 2023 Report Share Posted October 23, 2023 Way back when, somebody had a saying...... Cash is an option! It was the super math guy that was here several years around 2001/02. He used a really complicated cycle model from a guy in the 80s. When its all wobbly and I can't define the tell, I wait. Link to comment Share on other sites More sharing options...
DrStool Posted October 23, 2023 Author Report Share Posted October 23, 2023 Charlton Heston says, GODDAMN THIS MARKET TO HELLLLLLLLLLLLL!!!!! Link to comment Share on other sites More sharing options...
DrStool Posted October 23, 2023 Author Report Share Posted October 23, 2023 Link to comment Share on other sites More sharing options...
fxfox Posted October 23, 2023 Report Share Posted October 23, 2023 As long as the nifty fifty of our time don‘t significantly break to the downside the crash potential of the Ass n Piss is limited. Beneath the mattress it stinks like rotten eggs since many many months… Link to comment Share on other sites More sharing options...
DrStool Posted October 23, 2023 Author Report Share Posted October 23, 2023 Many, if not most, stocks topped out in July and have been bleeding ever since. Link to comment Share on other sites More sharing options...
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