Everything they taught you in school about, including S+P high today right at resistance, ...and no further.
Patterns are all Bearish, including the Throw over H+S potential pattern on the 15 minute Dow chart, shown.
My only concern, is that Bearish Sentiment is rapidly becoming a crowded tradeas the CBOE Put Call Ratio reveals
Sometimes real world events overwhelm for a time period, like the current financial crisis in Turkey is doing now,
and major price bottoms are made, or broken.
Because of that, I am on the sidelines, waiting...for a more important test back to 2860 Resistance, or down to S+P 2790-2800 Major Support.
THE_UNWIND
lkdahleh
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Excellent analysis, i love it! Keep up the good work.
@DaddySawbucks, Yes, i started to confirm my strategies with your trades, you rock buddy! keep it coming please :-)
DaddySawbucks
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@lkdahleh, LOL I'm a total amateur but tyvm I'm up about 50% on options during this wild ride.
lkdahleh
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@DaddySawbucks, How do you see the market tomorrow? I think we get a bounce before additional declines to about 2832-2835 S&P? What do you think?
DaddySawbucks
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@lkdahleh, No idea tbvh wave theory suggests longer-term patterns but day-to-day movements are impossible to time and difficult to anticipate.
I get whipsawed even when I have a good idea where it's headed!
lkdahleh
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@DaddySawbucks, I see a sizable bounce tomorrow for the markets to resistance in all markets (Dow 25230 and 2835 S&P), if resistance doesnt break, then we retest 2800, if it breaks, it will go sideways. I have very good indicators installed on my system that signaled a strong sell on Dow at 25500 and i rode it all the way to 25085. I have a new sell signal on Nasdaq at 7379 but i will wait for tomorrow's action to sell it higher. S&P is in sell mode since 2848. However, i liked your intra-day analysis.
Everything they taught you in school about, including S+P high today right at resistance, ...and no further.
Patterns are all Bearish, including the Throw over H+S potential pattern on the 15 minute Dow chart, shown.
My only concern, is that Bearish Sentiment is rapidly becoming a crowded tradeas the CBOE Put Call Ratio reveals
Sometimes real world events overwhelm for a time period, like the current financial crisis in Turkey is doing now,
and major price bottoms are made, or broken.
Because of that, I am on the sidelines, waiting...for a more important test back to 2860 Resistance, or down to S+P 2790-2800 Major Support.
THE_UNWIND