I'm not watching TV....
for some reason it feels like Pre-Euphoria...
but maybe that is the good sentiment... even I'm scared to call top.
Financial history doesn't repeat itself, but it often rhymes. You can't be stupid enough to trade off anything I say.... I'm lucky they let me out of the straight-jacket long enough to trade.
we had that nice test of top setup on friday... which seems to have failed.
Throwing a few flags in here... It could just be Basing.
I hate listening to CNBC.... BLECH!!! makes me want to puke.
This is kind of fucked up as an E-Wave count. Even as an ABC.... From my read... seems like we are close to a bit of panic. Many people took notice of the market today.
No bounce... Impressive. I'm covering some into the close. I earned my money, watching this all day.
If I feel like it, I'll show you some patterns. This is sort of in-Between. There is some very funky Sentiment out there. I'm in the middle of about 5 projects, it's hard for me to get any perspective on that sentiment.
There is no good reason to sell it. So Flat on my end... If I want to play it long again... I can do that tomorrow.
I told tony on Friday that red upswing looked like a failure or a double top. We gap faded... and we got the dying swan.
The target here was/is about where we are trading in the futures.
So, it's these ranges... for all the "Crash Talk" realize how, we just puked up... a little bit of gains. from the past months. Either we are accepting or rejecting these price levels. Geee that is No fucking help as a statement. But for all the traders from October until now to get flushed.
feels like a bit of panic.... on the TV... I had to turn it on......
I suspect this is the low, and we will get a bounce through monday.
We are at a retest of the Jan high.... I'm not sure what smarty pants has on this, But we are "playing with" that jan high....
Doug kass is fairly positive.... you have either a spike and ledge... which it falls off of.
10 day spy. there is one of those solid chances that everybody selling today, will be on the wrong side of the trade tomorrow. We could even stay in that trade channel
I'd guess more complicated patterns.... I think trading is going to get more "Sentiment" oriented, and less technical. and we may only see "Complicated" technical patterns, one beyond your usual mouthbreather.
Looks like the jig is up.... I wonder how many, out there... are "Hoping" for a Manic Monday, to puke into, to cash out.....
We are watching this upswing for a failure. A move below the afternoon low, with no new high, would probably end the swing. Futures are down 2... that seems close.
Like I said a few days ago, we needed to see the next significant upswing... Here it is...
We went up, tested the Pennant and sold off.... I have no idea what is going on, on the idiot box.
we need to see the 65 or 130 minute Down Swing, then the next upswing.... etc....
I said it the whole time... BE CAREFUL!!! but maybe you were not awake or paying any attention.
It's a small consolidation, if it is one. I don't know if I can say, one way or another. "Still Resolving"
If we are going to get the upswing.... it should be here.
There is a chance we have another HUGE leg down....
these are the levels you are looking at. This is actually much more important stuff than the rest of it.
in red, and as I've pointed out previously, these are the levels to look for "In case of Downtrend" for hedges/bounces for getting short.