Vince Farrell - "Market down tomorrow"

[DeepFried]

Vince Farrell on CNBC - "The market sells off tomorrow no matter what the Fed does."

I remember a bunch of "experts" saying the same thing in September just before the Fed cut. The S&P500 went up 11% in the next month and a half. Longer term, of course, they could be right but I doubt it'll work out that way short term.

 

[empee]

damn i was hoping for a pullback 2 get long

 

[der_kommissar]

Quote from empee:

damn i was hoping for a pullback 2 get long

typical ET'er.

Market rallies "damn I want a pullback to load up".

Day later market sells off "screw this it might crash".

 

[abducens]

I was hoping for a huge rally to short.

 

[der_kommissar]

Give us a specific price level you guys will buy at or short at.

 

[abducens]

Would short at 1420 to 50 area, thats why I said huge rally. Worry area would be 1475.

 

[der_kommissar]

Quote from abducens:

Would short at 1420 to 50 area, thats why I said huge rally. Worry area would be 1475.

I'll go with a touch of 1385 tomorrow and then reverse. A quick and ugly one and then another rally. I'd have to look a bit closer to see what support might be.

 

[Landis82]

Yes.

A 61.8% ratio of the first move up from the 1270 SPX level will argue for 1384.

21 day MA coming thru above that at 1389.00

 

[Landis82]

Quote from Landis82:

Yes.

A 61.8% ratio of the first move up from the 1270 SPX level will argue for 1384.

21 day MA coming thru above that at 1389.00

Kaaaa-CHING!!!



(1385.80 SPX intra-day high)