what do you all think about the idea that this 1800-2100 range could potentially be a wave 4 and a blow out top is still to come?
ES Journal - 2016
- Thread starter Buy1Sell2
- Start date
Sure but no net buyers from public ..even money managers can't justify entering with valuations and business cycle at its later stages. So only short fuel takes us higher or trading between large inventory holders to take it higher.
It's easy to take it higher if you collude with each other to buy each other's inventory at higher higher intervals.
Market make amongst yourselves. I would argue that the whole bull run was manufactured since the housing collapse. Remember what they use to say, the price action on the daily was unique and frustrated most everyone on the run up from the lows. The current price action is the same.
There is a chart floating around the calculated overnight leaps with and without. If you take out overnight point increases the S&P didn't move up for 10 years and peaked in 2005. So low volume sessions were used to incrementally increase the S&P..
Ask yourself who has the incentive and money to do that.
It's easy to take it higher if you collude with each other to buy each other's inventory at higher higher intervals.
Market make amongst yourselves. I would argue that the whole bull run was manufactured since the housing collapse. Remember what they use to say, the price action on the daily was unique and frustrated most everyone on the run up from the lows. The current price action is the same.
There is a chart floating around the calculated overnight leaps with and without. If you take out overnight point increases the S&P didn't move up for 10 years and peaked in 2005. So low volume sessions were used to incrementally increase the S&P..
Ask yourself who has the incentive and money to do that.
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Whole of 2015 was range following a solid runup, then came the corrective move and now we are neither here nor there. No new incentives have been announced. Let's see what news will be released in the future that effect market performance. A bit of a crap shoot right now.
I still expect that 3rd lower high is likely, that event on monthly chart ought to result in a bug downturn.
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Clearly not a bug, big. Bloody spellchecker.
2009-15 is still burned deep into the many bears...Heck the fall of 2011 and 2014 were extremely sharp squeezes that never turned back...so it's not really a surprise that at the hint of a reversal (of a downtrend) the market goes near vertical on the covers...and I'm certain that the possibility of a blow-off Wave 5 is always a part of that decision.
I still believe that it is a volatile trading range (with the Fed's tacit approval)...a rip roaring market that spits in their face for not raising rates would make them look bad...hence, Open Mouth Operations to keep things "bid" when there is too much selling and "offered" when things get going a bit too frothy...Just take notes on which Fedheads say what and when...
I don't know about you, but I am ready for some claret. Hope Chris got his seat belt on.
Just a minor downdraft.. It will all be okay soon.. I'm still confident in my long positions from 20 points higher.
i'm confident you're not going to make money on that trade
