Wow, fade this opening..

[polpolik]

I think a blowoff top is near...

 

[S2007S]

Quote from polpolik:

I think a blowoff top is near...

tough to say, im leaning towards a 5% chance on that.


After Shanghai fell over 4%, the next day it nearly gained back all its losses.

 

[Ivanovich]

One thing I think is for sure, the world equity markets cannot continue to maintain this pace forever.

 

[krazykarl]

Quote from S2007S:

tough to say, im leaning towards a 5% chance on that.


After Shanghai fell over 4%, the next day it nearly gained back all its losses.

That's more important a point then people realize.

It shows emotion is trending back to the upside after the debacle on the A-PAC/NYSE earlier this year.

Once we start getting complacent again, look for a minor-trend reversal.(near-term)

For the next few weeks, our boards are green.

 

[krazykarl]

Quote from Ivanovich:

One thing I think is for sure, the world equity markets cannot continue to maintain this pace forever.

What pace? In February markets lost an avg. of ~8% of their value overnight. That large sucking sound was free-markets correcting themselves for another push higher. We are going to trend higher for the near future.

 

[MiniDowTrader]

Options expiration...I'm expecting a narrow, mind-numbing range after this first hour.

MDT

 

[S2007S]

i think one more push at intraday highs.

 

[Spooz Top]

Quote from polpolik:

I think a blowoff top is near...

yup...

 

[Ivanovich]

Quote from krazykarl:

What pace? In February markets lost an avg. of ~8% of their value overnight. That large sucking sound was free-markets correcting themselves for another push higher. We are going to trend higher for the near future.

The pace since then. Look, don't get your panties in a bunch. I'm not saying we're crashing, nor am I saying to fade anything. I'm just saying we can't continue to make new highs forever without a severe correction. The more extreme a market goes in one direction, the more extreme the correction must be.

 

[krazykarl]

Quote from Ivanovich:

The pace since then. Look, don't get your panties in a bunch. I'm not saying we're crashing, nor am I saying to fade anything. I'm just saying we can't continue to make new highs forever without a severe correction. The more extreme a market goes in one direction, the more extreme the correction must be.

No worries - I un-bunched my panties.

we only recently started making new highs - and only in the DOW. Don't forget this is the DOW - companies that are international conglomerates making most of their money outside the US. The only people that use the DOW as a barometer of health are warren buffet and CNBC.