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hey carl anonomous joe dow has now broken 12200 which i thought would hold and we still have untill march to bottom support now is 11921 which is just below the 2006 lows i have to relabel this as point 18 there is a bearish cycle from jan 21 to feb 6th . and i was looking for a rally from jan 7th to jan 21 something is wrong in my work .also if point 23 was indeed put in back in oct then we now have points 24 25 and 26 which is almost complete . so we have diverging labelings if that makes sence . we are either about to enter point 19 or we are about to enter point 27 , both i have to weight as a 50 50 odds at this point in time . im favoring this aspoint 18 ending and point 19 about to begin yet it is hard to ignore the more bearish case which at this point in time is not failing .proof will be in the pudding in mid year .
Just curious, why are you going against the trend. If you had shorted the market you would have made plentiful instead of stopping out all the time. You seem to be in the very small minority who still advocate new market high?2cents
I can only reiterate Futia's agrument that comments like these always come at the low.
agree with you this is bottoming.. cash on sidelines is very high (see ratio of money market assets to market cap of s&p500). same thing happened in 1990 (huge rally after that) and 2003. people always panic at the wrong timedudeinteresting blog
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