Coming Aug 29th: Black Monday or Bounce Monday?

Overnight said:
You have an odd way of self-flagellating. It is not apparent.
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Minute 2:05 starts er off with a fantastic scene: "Whatcha got there boys"?
The Medici - Godfathers of the Renaissance 1/4 BG sub

hour 2/4 minute 36 has some from a renaissance expert. Not my cuppa tea.
https://www.bitchute.com/video/MOf9DefNeorb/
The youtube hour 2 of 4 copy of this is restricted...
it's on bitchute at minute 36.
This entire series is più eccellente!
 
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Overnight said:
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I love a good blues band. Close your eyes and sounds just like Howlin Wolf.
padman OG.jpg
 
easymon1 said:
I love a good blues band. Close your eyes and sounds just like Howlin Wolf.
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Easymon, if you have any desire to speak VOX, send me a PM and I will gladly give you my number. Phone. Fuck Skype and all that. I sense you are old enough to know how to use a telephone.
 
Overnight said:
Are you out of your mind?!? That was not a knee-jerk reaction...That was a solid selling regimen into RTH close, and it continued down and down into the futures ETH close. The shit closed on a down tick. I expect this to continue. As I had mentioned in some other thread...The bull market cannot resume until the Fed indicates a pause on rate hikes or some other sign of QE. This idea, ( which was hoped for by some, me included,) was annihilated yesterday when Powell put his foot down.

Remember, there is no more PPT, because they cannot trade stocks any longer. So they don't give a shit. Hammer down!
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The downtrend may continue yes but the magnitude of today's move would not be repeated. The entire down move today is an overreaction. The market didn't expect that Powell would have the resolve to stick with fighting inflation even at the expense of having a recession now that they know and they panicked a bit. Now that they know they will adjust. The market always adjusts and you will see the down move magnitude from now on will not be as big as on this Friday unless there is some really unexpected market-moving news or economic data.
 
TheDawn said:
The downtrend may continue yes but the magnitude of today's move would not be repeated. The entire down move today is an overreaction. The market didn't expect that Powell would have the resolve to stick with fighting inflation even at the expense of having a recession now that they know and they panicked a bit. Now that they know they will adjust. The market always adjusts and you will see the down move magnitude from now on will not be as big as on this Friday unless there is some really unexpected market-moving news or economic data.
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FALSE! But true.

The market will see moves of this same magnitude down, just not in one day. I expect this next week to slowly fade another 5%. The week after, another 2%. The Sep Fed meeting is now the most critical decision this market will face after the inflation prints. See how the VIX is above 25 when the marker closed? 25 VIX is a bottom now. That is your baseline until Fed decision. Range it from 24 to 30. This means more downside pain on equities.
 
Overnight said:
FALSE! But true.

The market will see moves of this same magnitude down, just not in one day. I expect this next week to slowly fade another 5%. The week after, another 2%. The Sep Fed meeting is now the most critical decision this market will face after the inflation prints. See how the VIX is above 25 when the marker closed? 25 VIX is a bottom now. That is your baseline until Fed decision. Range it from 24 to 30. This means more downside pain on equities.
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That I agree. But we might also get some up days here and there whenever we see some easing in inflation or some factors that could lead to a drop in inflation. The overall trend will be down until there is some "relaxing" in the monetary policy or at least some hints of "relaxing". But the upcoming Monday will be a flat day.
 
TheDawn said:
..The overall trend will be down until there is some "relaxing" in the monetary policy or at least some hints of "relaxing". But the upcoming Monday will be a flat day.
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As far as I can tell, there will be no relaxing. So i'm in on Powell's strap-on. He totally fucked the Bulls. Next stop? Late Sep.

 
What do I think? I think that the market will fall. However, I would not go so far as to call it 'Black Monday'. I expect to see support either at the 50% or 61.8% retracement of the move from 3639 to 4327.5 in ES to hold as support. See below.
2022-08-27-TOS_CHARTS.png

How am I playing this? I am short the market going into the weekend as well. See below for how I view the bigger picture.
2022-08-27-TOS_CHARTS bigger picture.png
 
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