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| ... Millennials ... |
IMO the big test comes at 2780 on the S&P, with an instant 200 pt free-fall when we fail it.
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| /ES hourly ending-diagonal count |
Wednesday, August 15, 2018
Five waves down
/ES is perky tonight on China trade delegation news, and I may be the only sane person who sees five clean waves off the top and a 50% retrace in the works.
IMO the big test comes at 2780 on the S&P, with an instant 200 pt free-fall when we fail it.
IMO the big test comes at 2780 on the S&P, with an instant 200 pt free-fall when we fail it.
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Possibly could have drawn that channel a little narrower -- we'll see if /ES has peaked in the AH and sells off tonight.
It is possible that the bounce off the 2802 low today was a brief, sharp W2, with another gap down and increasing fear and panic.
wmt seems to be ruining the bear party cg. still hanging on to the chance of a 3% pullback but losing faith as the economic news just keeps getting better. it's hard to trump fundamentals. we'll see though. august & sept are the 2 worst months of the year for the stock market so there still may be hope for the bears.
I have the same count. Probably have to close the new gap near SP 2860 prior to grand slide. Fed raise rates in September, AND waiting period on $200 billion of China tariffs in early September, looks like the catalysts waiting to ambush the bulls.
day 3,447 and counting.
longest bull market in history.
How did all other longest bull markets in history end?
Slowly at first.. then all at once!!
Lance Robert's with a timely article to answer my question:
http://realinvestmentadvice.com/the-longest-bull-market-in-history-what-happens-next/
the longest bull mkt in history getting a bit longer today.
trannies joined the new all time record today joining the naz, russell, s&p mid-caps and s&p small caps in the all time record camp. won't be long before the s&p and dow jones join in.
and it was 1 year ago today the great guru charles nenner screamed to get out of stocks before sept 2017 as the dow jones was going to 5,000. those who did missed out on another 15% gain. pay no attention to those perma-bears lol
some ta from marketwatch
Why this bull market may have miles to go before it sleeps
The chart watchers said that the strength in the market’s breadth, as gauged by a record high in the S&P 500’s NYSE Composite Advance-Decline line last week, indicated that stocks have a long way to go before hitting a wall.
https://www.marketwatch.com/story/why-this-bull-market-may-have-miles-to-go-before-it-sleeps-2018-08-20?siteid=yhoof2&yptr=yahoo
How's the air up there CG? Does Seattle smell like a giant campfire?
as expected with no surprise welcome market new all time record highs in what is the longest bull market in history.
and if you pay attention, mr naz, mr trannie & mr russell are saying this market is going higher, much higher.
now the assault on 3,000 begins! just 4% to go!
happy new all time record day!
#sideways
naz less than 1% till 8k
we're in the back and forth mode of all time record highs----
one day naz hits ath, then one day trannies hit ath, next day russell hits ath, then s&p hits an ath, then s&p small caps hit ath, next s&p mid-caps hit ath,
the 2nd longest bull mkt eclipsed the previous one by 50%, if this current longest bull does then same, then we have another 1,700+ days left which is just under more years. it's very possible as secular bulls can last a very very long time.
#churn
whoa, what just happened? did powell begin speaking?
all time record high tri-fecta!
nas all time record high
s&p all time record high
russell all time record high
naz 8,000!
#6850isthetop
LOL
#sideways
cg, hope you are doing ok,
i have a feeling my s&p year end 3000 target is going to get blown out again. my naz 8000 target already hit so that is going to be a big miss too.
we're less than 36 months from the big s&p 4,000 at which time i'll begin to scale mainly into divy stocks in prep for early retirement. boomers are retiring in record droves now thanks to the historic market performance. long term buy and hold always pays off if you approach it correctly. i do admire short term traders who can make fast money
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