Bear trap? Please turn off CNN. In terms of tops, the markets are heavily manipulated. There is only so much money to go around. The majority of stocks entered a bear market long ago. The FANGs (most manipulated) kept the indices up. Transports, real estate, Tech these are all tanking. This is the same prelude to 2008. Paradigm shift.
Bloodbath for just about everything except some Chinese stocks Reminds me of when the real estate crash took place in California where most home prices lost most of their value while homes in Chinese communities barely dropped.
pulling this from last week's thread, looks like we got a close below 2356, so still thinking that 2282 in the cards? also another great call btw @Steven_Burt!
I hear the bear trap going off.... 21,600 should offer some sort of support (low and close for the day was 21792.2) so let's see for a potential relief rally on Wednesday if it drops 200 at the open and holds. I am STILL looking for the lows to be set in January and February judging by this EOY action. That's why 19100 is the biggie. As we made the ATHs in January, there was simply not enough energy left from the 10% rally that month to take us higher. The VIX being blamed back then was bs, it was nothing more than a lack of bids due to lack of energy. The rally into October felt the same way, and there was too much uncertainty (especially from foreigners) to try and take us higher for the year end. So main target is still Jan/Feb 2019 for the lows to be set. Then we rally 50% and hit DJIA 32k in 2019. With the uncertainty in Europe, many investors will be piling onto the US$ and our markets for safety. Asia isn't a good place to park money right now either.
When it shoots any where between $45-50 it will be good to short VIX for good money there. I think $45-50 for VIX is quite possible between this month and next month. In fact I feel pretty confident we should hit those numbers pretty soon. My $.02...
Man the close on Monday was certainly brutal enough to push it there. RSI at 19.2 and we are outside the BB's so we should see at pop pretty quick, but there doesn't seem to be many buyers out there yet. I think 2282 is in the cards for this week fwiw
Merry Xmas.. I think! Losing the 2018 gains was pretty much in line with what I expected of a good sell off. But almost losing all of 2017 too is now getting into ... interesting territory! SPY around 230 is where I have an uptrend line, I think we start seeing some buyers dip their toes there.
Merry Christmas! @StockJock-e You are right about that T/L, It has been so long since we have been anywhere near a T/L that I quit drawing them lol.
Merry Christmas to everyone here and wish you all make good money. Keep shorting. Bloodbath is not over.
I agree 100%. Unemployment at all time lows, and the markets hitting bear market territory... something stinks on Wall Street of manipulation big time. BTW, welcome back @Venom08 !
I think we will see the new real unemployment numbers start to show during the first quarter of 2019. I got a strong feeling that they will start to change then.
