Thursday, July 9, 2015

Is 4 finally over?

We failed to make a new low on the SPX and DJIA yesterday, while VIX spiked above 19.

Counting that as A and B of a final 5th.  C of 5th is an impulse.  Let's wrap this up.

SPX 7/8


Christian Gustafson said...

Maybe I sit down and write something about the true End of Days for Microsoft coming up. 117K employees, really? And no longer needed, for anything at all.

/short eastside RRE

Bicycle said...

Motorola used to have as many employees in the northern Illinois, replete with factories, even. Now there are less than a few thousand housed on the top floors of the Merchandise Mart.

Seattle is not Chicago... but if AMZN goes down at the same time... look to us as a model for what may be. Stagnant real estate, and a general malaise... with pockets of societal collapse. should be good for a revival of the music scene there... the 90's alt bands are all rich old men now... and the republic is going to need a new Woody Guthrie, soon.

Bryan Franco said...

I can provide some singer/ songwriter entertainment (good or bad, dunno)... We should all assemble a list of "real" things we can all do for End of Days. But then again, music might not be a priority under that scenario. Shoot. Can I trade a demo tape for some hunting lessons? Anyone?

Christian Gustafson said...

Actually, there's a much better triangle in play here, visible on the /ES and SPX RTH.

AH /ES is up 14 handles. If this triangle is B of 5, we still have C of 5 left to go.

C of 5 will clear the deck of ALL shorts, reverse just as hard off the new high, and keep going.

Bryan Franco said...

Not buying it. Perhaps I just haven't learned my lessons yet.