click to enlarge. Comments as shown SPX rejected at 200 EMA soundly.
Sometimes, in a random world where order is seeked out, there is disorder. And today is perfect example, there has already been a strong move off the highs, many are waiting to short, and the top may have been put in week or so ago.
Is it NOT the job of a bear to dismay as many as possible? Not only have indexes given back the 200, but the 50 EMA as well, that IMHO may change things.
And many people (none of us) have been calling for another higher high, and some of us avg Joe’s have met that with skepticism.
IT was 2 weeks ago I ran a 200 EMA study and came away with the conclusion the odds were THE top was in and the market would turn Lower VERY soon. I gave specific reasons and detailed my point of views with the chart and stats incl L.
SO FAR sellers had NOT shown up to VERIFY the weakness, that this was a buyers strike so far. Today L buying power was almost back where it began in MArch
Is it NOT the job of a bear to dismay as many as possible? Not only have indexes given back the 200, but the 50 EMA as well, that IMHO may change things.
And many people (none of us) have been calling for another higher high, and some of us avg Joe’s have met that with skepticism.
IT was 2 weeks ago I ran a 200 EMA study and came away with the conclusion the odds were THE top was in and the market would turn Lower VERY soon. I gave specific reasons and detailed my point of views with the chart and stats incl L.
SO FAR sellers had NOT shown up to VERIFY the weakness, that this was a buyers strike so far. Today L buying power was almost back where it began in MArch
(NOT BULL BEHAVIOUR!)
IMHO (jaded I guess) MY chart of the 2000-2003 bear study of action at the 200 EMA was as good as anything I have ever seen. When added to Trans avg non confirm, loss of buying power from L, the picture was pretty clear and my call of trouble ahead for idexes timely.
The market is always one of study and learning. The market IMHO is sending out a message loud and clear TURN OFF CNBC
The market is always one of study and learning. The market IMHO is sending out a message loud and clear TURN OFF CNBC
can you BELIEVE THIS HEADLINE from yhoo
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*I AM NOT SURPRISED! We got our 2nd 90% downside day today and it came within 30 days of last one, VERY good chance top is in and we could be headed to test the MARCH LOWS.Will we get some FED metting jiggyness? we'll see...something is still terribly wrong.
In 1930 total credit market debt as % of GDP was 265%. I read a few days ago it is now 375%. That is scarey as hell
D
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