We have five waves down the /ES and SPX since the FOMC key reversal high. The move has stayed relatively well-behaved in a tight channel. A bounce is due, but how large of one?
FWIW, The /ES (hourly chart) stopped at the -23.6 extension of the 1963 to 1910 drop at 1898 after having hit a 50% retrace at 1936, so I would not be surprised to see it head back up here. Yellen will provide CNBC, et al, an explanation for whatever happens, no matter what it does, or what she says.
CG- I don't know anything about guns. Perhaps I better learn. What do you recommend? Just want to protect my daughter from all that is evil. Would love for her to embrace Ronda Rousey as a role model.
Bryan, I have a CCW issued by the State of Washington, but I'm not your source for real firearms info. I suppose you need a rifle, as well as a pistol so that you can get to your rifle. Then you can be an armed free citizen of the republic like me and the Swiss.
Go to a range that lets you try out a variety of guns, find something you like, lock it up securely. There are also mobs of tasty deer in your neck of the woods; the top predator is either you or the hood of your neighbor's Buick.
Hello, would you care to update your post "Does 1987 have any lessons for today?"? As it looks to be following your A-B-C moves pretty closely, and we're getting close to the interim top before your big break down. Would love to hear an update on that one.
If these legs are ABCs, then we get caught off-guard waiting for 5th wave lows below 1867 and unpleasant things like that. By the time we figure that out -- whoa -- there's our next C wave down.
Bicycle, I don't know if it's sporting to make fun of BBRY any more. How much of the S&P 500 will suffer a similar fate?
10 comments:
If we're done selling off for now, the .618 retrace of the drop from 2020 SPX is around 1977.
FWIW, The /ES (hourly chart) stopped at the -23.6 extension of the 1963 to 1910 drop at 1898 after having hit a 50% retrace at 1936, so I would not be surprised to see it head back up here. Yellen will provide CNBC, et al, an explanation for whatever happens, no matter what it does, or what she says.
Thanks, George. And welcome.
BTW, if you have any recipes for tasty long pig or innovative techniques for man-traps and punji sticks, please do share.
Meanwhile Bicycle is focusing all his psychic energy on lifting the tape, like a psionic attack from a mind-flayer.
If the Bear really is coming, a good bounce would be great.
Mind-flayer reference material.
Bicycle -- since the lows this morning.
A up, a B-wave triangle over the last hour of trading, C up tomorrow?
Is Rock River Arms hiring?
CG- I don't know anything about guns. Perhaps I better learn. What do you recommend? Just want to protect my daughter from all that is evil. Would love for her to embrace Ronda Rousey as a role model.
Can we fill the gap @ 1990 SPX today?
Such a move would clear the field of bears.
Bryan, I have a CCW issued by the State of Washington, but I'm not your source for real firearms info. I suppose you need a rifle, as well as a pistol so that you can get to your rifle. Then you can be an armed free citizen of the republic like me and the Swiss.
Go to a range that lets you try out a variety of guns, find something you like, lock it up securely. There are also mobs of tasty deer in your neck of the woods; the top predator is either you or the hood of your neighbor's Buick.
Hello, would you care to update your post "Does 1987 have any lessons for today?"? As it looks to be following your A-B-C moves pretty closely, and we're getting close to the interim top before your big break down.
Would love to hear an update on that one.
Thanks
Yeah, Steven, good idea, I'll do that.
If these legs are ABCs, then we get caught off-guard waiting for 5th wave lows below 1867 and unpleasant things like that. By the time we figure that out -- whoa -- there's our next C wave down.
Bicycle, I don't know if it's sporting to make fun of BBRY any more. How much of the S&P 500 will suffer a similar fate?
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