Sunday, October 23, 2016

Time to break out of this eternal sideways

We have a New Moon next weekend.  If we're going to put up new highs before Election Day, now would be the time to do it.  We made the .382 retrace for W4 at 2114 SPX, and have drawn a plausible A and B of W5 since then.  A spicy enough C wave could easily make our target this week.

Let the craven MSM declare Hillary up by 20 points with their faked and flawed polls, and Wall Street can follow-through for them.  I still believe that that awful harpy will fall before Election Day, either by her own failing health or a checkmate from the brave and formidable Julian Assange.

Good luck to all ...

SPX 30d

17 comments:

Christian Gustafson said...

Did Howe and Strauss mention the Cubs in the World Series?

Bicycle said...

Cubs can clinch in Chicago on that new Moon, you know.

Even as a lifetime Sox fan, I hope they win it this time.

Stockboom said...

Hi CG,

I think HC is almost in the office now, it is next to impossible for Trump...people looking into conspiracy in HC but real conspiracy I think is Trump is there to make HC win!

Just my 2 cents.

Market has no stopping till long time if HC wins the white house.

Christian Gustafson said...

Hillary's campaign comes to a full stop in an instant if one of two things happens:

1. she has another public personal health episode

2. Wikileaks releases the goods on her

Again, Julian Assange has pledged to release all he's got by November 1. The Podesta files are hors d'oeuvres whetting our appetites and building Wikileaks's credibility leading up to the final blow.

It could come next weekend, coincidentally on the New Moon.

Ken Barrows said...

I don't know. If I had information that would bring HRC's campaign to a full stop, I'd just release it. Maybe I am not theatrical enough.

Hugh Jazole said...

http://conservativeamerica-online.com/wordpress/wp-content/uploads/2016/06/cd63d6b97513bb8a0674f4c8649fc47e.jpg

Bicycle said...

the SKYY is falling

Bicycle said...

https://www.youtube.com/watch?v=pADHLsECWxY&sns=tw

Christian Gustafson said...

We get over the 50dma tomorrow, we could go on a real tear. Hillary is in coronation mode.

T.Berry said...

+1 stockboom. hrc, like this young less than 8 year old secular bull will not be stopped! the market will continue to perform well under hrc but no where near as historic as it has under bho. It will be years maybe decades that the market to perform as great as it has these last 7+ years. levels of wealth never seen before have been created under this administration.

about time to push the "2016 crash" back yet another year. just like the last 7 annual crashes. lol :)

Ken Barrows said...

T Berry,

Yes! Just like pushing off fed funds rate increases!

Bicycle said...

T Berry, it gets old. S&P 500 has gone absolutely nowhere in the past 2 years. Buy and hold philosophy hasn't worked in years now. BTFD has, but not as well as before 24 months ago--but that's different...

The historic secular rally that will be remembered over the next years will be the one in the US Dollar.

Christian Gustafson said...

And here is a fine piece on McMansions.

T.Berry said...

bicycle, secular bull markets don't necessarily go straight up every year. especially after the previous 5 in which the mkt almost tripled. heck the 1980 to 2000 secular included the '87 "crash". the past 2 yrs may have been dull but 5% is much better than the .002% that money markets & cd get.

I agree buy & hold only works some of the time that is why it's best to deploy a cost average in while buying and holding---this strategy works 100% of the time. you have to remember, the stock market ALWAYS comes back.

be careful, seculars can last up to 20 years. we're not even halfway there. :)

@ken, the fed proved low rates work.

Bryan Franco said...

T Berry. Not all markets come back. And those that do come back, don't always come back in the timeframe that you need them to. In fact, large market downturns often correlate with other things in life like: layoffs, large business debts that are due, and other unforseen liabilities. Thus, one might not be in a position to dollar cost average when one would like to. Worse yet, one could get margin called at an inopportune time.

Hugh Jazole said...

Agree Bryan. Most people grossly underestimate the amount of cash they should hold. They have been brainwashed to put every penny into stocks and real estate.

Ken Barrows said...

T Berry,

Low rates do work to lift asset prices, but it's a strategy done since the early 1980s. For it to continue to work, rates will have to remain low forever. It also helps that federal debt and S & P 500 have climbed in lockstep since that time.