tag:blogger.com,1999:blog-547276048038789798.post4420357657287257730..comments2024-02-26T10:14:10.039-08:00Comments on Deflation Land: Charts 10-17: Breakout aheadchristiangustafsonhttp://www.blogger.com/profile/07216348353801614419noreply@blogger.comBlogger4125tag:blogger.com,1999:blog-547276048038789798.post-88599323318784160472014-10-19T04:07:35.300-07:002014-10-19T04:07:35.300-07:00Target on that inverted head & shoulders is 19...Target on that inverted head & shoulders is 1976 SPX, a devastating, demoralizing swing.<br /><br />Especially if we run up all the way to the upper edge ... and crash.christiangustafsonhttps://www.blogger.com/profile/07216348353801614419noreply@blogger.comtag:blogger.com,1999:blog-547276048038789798.post-81593495402148462542014-10-18T23:35:07.940-07:002014-10-18T23:35:07.940-07:00Note the large open interest in VIX call options. ...Note the large open interest in VIX call options. I think the market is likely to move sideways or up until the options expire on Wednesday. Whatever can be done to lower volatility.Markushttps://www.blogger.com/profile/16268998244101678807noreply@blogger.comtag:blogger.com,1999:blog-547276048038789798.post-83828952923987766422014-10-18T20:43:35.321-07:002014-10-18T20:43:35.321-07:00I know, I know Doomie.
Now check out the long-ter...I know, I know Doomie.<br /><br />Now check out the long-term chart I just posted.christiangustafsonhttps://www.blogger.com/profile/07216348353801614419noreply@blogger.comtag:blogger.com,1999:blog-547276048038789798.post-18756712934563789612014-10-18T19:36:18.626-07:002014-10-18T19:36:18.626-07:00Hello CG.
I'm bemused that after a full three...Hello CG.<br /><br />I'm bemused that after a full three years of waiting.. now that we've fallen 199pts from 2019 to 1820, with VIX soaring from 11 to 31... the first thing that many are touting is 'ohh, here come new highs'.<br /><br />The monthly charts on the broader market are only just breaking.<br /><br />The same chatter happened with the Gold bugs in spring 2012 (not the initial break in spring 2011)... they called for a floor, at the VERY time the giant monthly cycles/trend had just broken.<br /><br />..some two years later... they're still floor calling, and haven't learnt a damn thing about watching the bigger trends.<br />-<br /><br />R2K broke July<br />Dow.. 2 weeks ago<br />sp', 1 week ago.... <br /><br />..yet here we are.. and many are touting 'new highs are coming'.<br /><br />I ain't going long unless >sp'1970, and sure doesn't look likely.<br />-<br /><br />Frankly, EVERYTHING I've experienced in market land across the last few years tells me this is the best shorting opportunity (after a bounce) that we've seen in years.<br /><br />To see you.. and others seriously contemplate new highs... its just bizarre.<br />--<br /><br />I realise you are trying to keep an open mind, but really, go stare at ANY of the monthly cycles for a few minutes, and then ask yourself, how the hell (barring immediate launch of QE4).. we're going to break new highs, before at least falling to the sp'1600s.<br /><br />Regardless.. hope your weekend is good... next week...and more so.. November will be... dynamic.<br />Trading Sunsethttps://www.blogger.com/profile/13291647197167518399noreply@blogger.com