Like umm oil market collapsing. And sales of single family homes. And retail car sales. And ....
Thinking out loud.
- Thread starter momoNY
- Start date
When we get there, we will look for signs of market bottom. For now the top is in place, unless a miracle happens before the end of the year.
You are too pessimistic guys!
Yes, oil down 40% just this quarter! The trick was how to distribute all their shares while holding the indicies higher from around May thru early October.
Pull up a weekly chart of any of the retail favorite or "hedge fund hotel" names. The parabolic blow off moves in those stocks are nearly identical to 2000. Even worse in many ways since liquidity is garbage compared to that era with so much consolidation in the industry and algo's that simply pull liquidity regularly. Plus short interest is at rock bottom in most of these names since it was a one way liquidity pull higher for nearly a decade.
You may be right. I don't look at anything else than indices, SP and Dow essentially and my analysis is based purely on price and volume; they can only predict from one support/resistance to another not deyond IMHO.
LOL numbers don't lie. Most numbers most of the time.
Meanwhile the one number(s) Wall Street is frantically trying to get positive, for the year, are for the indices. Watch them try to manipulate those numbers.
I think we have a short term bottom here at 2441. It will take us to 2630 where it will be a good shorting opportunity; maybe a little higher, but this market will definitely have many legs down, before it is over.
Last edited:
ALL markets are manipulated at some extent, more in the short term, indices are not an exception.