Thursday, April 25, 2013

And ... it's ... gone

We have a completed wave count touching the "Jaws of Death" mega-megaphone at SPX 1592.64, followed by a sharp reversal.

My first target on the downside here is 1560, likely on tomorrow's GDP number.

Welcome to the Great Bear Market cycle of 2013-2014!  GLTA!


Bryan Franco said...

I'm sure tuesday's flasher, and today's CBOE outage until 1 pm had nothing to do with one another. Bandwidth test anyone?

Jeff Schrader said...

I sure hope so. Though not in the mood for burgers after viewing your video. Cowabunga!

Permabear Doomster said...

1560 tomorrow? Yes, thats viable, 25pts down, by late Friday, with VIX 17s.

That would make for a micro-wave'1.

If thats the case, I exit at the Friday close, and look for a 4-6 hour bounce on Monday.

not watching scary videos