Black Monday

I wouldn't consider it to be a "black" anything till we get 7%+ drop. The last few I remember since I've been trading are the following.


Oct. 27, 1997 DOW down 554.26 or 7.18%.

Sept. 17, 2001 DOW down 684.33 or 7.12%.
 
Quote from JayS:

I wouldn't consider it to be a "black" anything till we get 7%+ drop. The last few I remember since I've been trading are the following.


Oct. 27, 1997 DOW down 554.26 or 7.18%.

Sept. 17, 2001 DOW down 684.33 or 7.12%.
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I know I just fuckin' wid all y'all. Just getting the thread warmed up.

John
 
Anyone here think we're ready to see a really really huge down day? I have this feeling we're very close to seeing a 4% down day soon and worse for the Russell 2000 small caps.

Not that 4% is huge comparatively. But, I'm feeling in the next 5 weeks we'll see the big kahuna.
 
Quote from polpolik:

Anyone here think we're ready to see a really really huge down day? I have this feeling we're very close to seeing a 4% down day soon and worse for the Russell 2000 small caps.

Not that 4% is huge comparatively. But, I'm feeling in the next 5 weeks we'll see the big kahuna.
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Can you post your chart with the analysis so we can review? Thanks
 
No charts, just pattern that I'm seeing throughout the day during the past week or so.

My chart is telling me we're range bound but this is more of a gut feel thing.
 
Quote from polpolik:

Anyone here think we're ready to see a really really huge down day? I have this feeling we're very close to seeing a 4% down day soon and worse for the Russell 2000 small caps.

Not that 4% is huge comparatively. But, I'm feeling in the next 5 weeks we'll see the big kahuna.
More...

I personally believe that a break under 1247 on the ES futs is going to be the straw that breaks the market. I am anticipating that the day that happens, we move to 1190 and stabilize.

Today was a weak consolidation, I didn't feel much strength from the buyers and I do think the current longs are starting to get anxious if they haven't exited already. What would be great is if we had a massive overnight gap through 1247... Regardless I don't really care where the market goes, I just want to see panic from the longs. Things haven't been pushed far enough down yet IMO...
 

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