Top 2.0

Quote from marketcynic:

In April and July, earnings season was a catalyst to catapult the market to new highs. Expectations were low, and they were soundly beat. Stocks went higher on the news. Well, the expectations were low this time as well, and most bellwethers beat the numbers. But stocks have not gone up on the news. Since INTC earnings, the market has gone nowhere. The bulls were ready for a good earnings season and had already bought ahead of it. Only the fools were left to buy on the news. The cat is out of the bag. Sure, overall market sentiment is still skeptical about this 7 month rally, but actions speak louder than words. People are still complacent as seen by the put call ratios over the past couple weeks. And I don't know too many diehard bears left standing after a 60% up move in 7 months. Those that are left standing are reluctant to short. The bears still need to be nimble here because the trend is still clearly up in the intermediate term. But now its more of a two sided game, no longer is it going to be straight up moves.

http://marketcynic.blogspot.com/

Ok that's sweet. Now where's the dollar bottom? And next time don't end your stupid post with a link.
 
Quote from athlonmank8:

Yup. This is a cycle top as well so candle with resistance is a very high percentage trade. Anything above this high today would violate it of course but it's better using a fixed $$$ stop in this case.

Also, we need to hold this top for 2 days. A drastic sell-off is going to leave the FED racing to get this market back up (which i've seen before) but increase the % this is a top. A few more days to see whether they're gonna game it or not. If we're below this high friday, Monday is going to be a shit-storm.

Dow off 100. Not a shit-storm, but not a drizzle either :D
 
Quote from athlonmank8:

Horrible candle. Restaurants and airlines going into that group too.

Quote from athlonmank8:

Retail banks are a mess.


Sad state we're in but we finally have a catalyst.

Retail's the next to go, JWN/Coh
 
Asia is getting hammered right now. HS down over 400pts!

I do not think the FED can keep up the illusion any longer, they are the boy who cried wolf and no one believes then anymore. Even housewives can see just how fraudulent all these bailout actions are. Just throwing money right out the door and into the wind, a completely wasted exercise.

You can not gut the entire blue/white collar workforce and not pay the price. There is no such thing as a jobless recovery and washington has DONE NOTHING to create policies that would lead to substainable job growth and I mean decent jobs with benefits and paychecks that where as good as the jobs that where allowed to be sent to cheap labor markets. The middle class is decimated. We are at the point of no return. The ARM's are going to spike again(they have been in a temporary pause while the hot air rally has taken place. They are going to spike again beginning in Nov. and this will send the DOW into Catastrophic Wave C. The big wave DOWN.

You cannot run propangada in the media, and artificially inflate paper assets(stocks, bonds) while the fundamental continue to worsen on a exponential scale and not pay the price. The price is the whole house of cards comes tumbling down this time. No illusions, no propaganda, just brutal honety and reality as the truth is revealed.

This will be our chance for some real and meaningfull change. Things cannot continue as they are, it's to insufferable. Smart folks know the rally is over and that the hedge funds and institutional banks have been distributing for 4 days now. When distribution is complete Catastrophic wave C will commence.

You can fool some people some of the time, you can not fool them forever, this time folks are not taking the bait, good for them, better to have someting left than nothing, especially during the Kondreitieff Winter we are about to go through.

Besides printing money 24/7, they better get used to printing food stamps 24/7 for the amount of apps for them will spike as well.

You have over 100 TRILLION DOLLARS in intitlement obligations(Social Security, Medicare, etc), 650+ TRILLION DOLLARS of Toxic Waste hidden on the world's bank balance sheets and the debt goes up more than $140,000 dollars a second=ticking time bomb.

Get ready and prepared, the fallout is coming and the chart shows it a mile away.
 
Yeah I agree.

It's starting to get ugly. Market off 260 finally some panic. Really tearing thru the bids. One thing is though this could be setting up for the largest sideways move the market has ever been in for the next year or so.

We go thru lows we're gonna see a blood bath but it looks like some FED shenanigans are going to start in a bit here.....
 
Back
Top