Friday, April 4, 2014

October 11, 2007?

A proportional selloff today would have us get down around 1853, with a bounce back to 1880 early next week.

Good luck to all bears ...

6 comments:

christiangustafson said...

If today is THE day, sir, I have us at SPX 1450 by the July 15th Bradley turn. Yay.

christiangustafson said...

Today's sell-off finishes Monday morning -- 5th waves are powered by margin calls.

Then we test 1880 as resistance.

Bryan Franco said...

Yes. On board for a monday morning dip... and rip. Would love to add to shorts once next rip loses steam. Keep in mind, we also dont have my pesky 3-5% correction issue anymore, and i love that.

Trading Sunset said...

october 2007, a provoking thought...but no.

If I had to stick a date on it, we're spring 1998.

Even if we drop 15/20% this year...up we go again, not least if interest rates are raised (if only a little).

christiangustafson said...

My crappy "stretched 2008 tape" model was looking for an initial low of 1854.11 this morning for i of 1 of a. We got 1854.26, neat.

Now it would have us retrace back to 1880.60 -- tomorrow early would be great -- and SPX 1770 by April opex.

Will watch it carefully for both price and time targets.

Trading Sunset said...

down goes 1850

1550 potentially on deck

then a hyper ramp to 2250
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Not sure if you meant it, but it invokes boxing imagery.

A giant bull, on steroids....Mr Bear..bites....DOWN goes bull....crowd go wild.
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I do agree entirely..the low 1600s/1500s seem viable.

The issue I have...and it should deeply concern the bears...what if we then hyper ramp?
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It would be the most horrible thing if the bears do well on a down wave, only to stay short..and get ground down whilst the market ramps for another 12-18mths.
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Good wishes for rest of April.