I'd wait till it touches the bottom, I don't like to make a position against the trend, thank you! great analysis, I agree in closing my position now without so much risk :D
pxzib2
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The peak on the left graph was on a Friday and started crashing the following Monday.
Another great fractal! We are very close to the end of this incredible upward move. Fasten your seat belts!
mjcpaull
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I think you are right.... I've been riding short positions and bleeding to death for the past 6 months. I've converted all my stock holdings to cash and grit my teeth each day watching the market hand my head to me.... but I can't hold any longs. Everywhere I look I see reasons for the market to unwind and every time I look for value, there isn't any. Machine trading is driving price action, not human sentiment - means older traders like myself need to re-assess how we interpret market turning points.... when the algo's turn negative the selling pressure will self-compound... and I'm not sure what will stand in the way to stop it. Either I buy some more time on my short positions or buy a bucket of tulips.... don't like tulips...
Can you see any chance the machines go down to 4000 or 3900?
s_proper
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@karistocrat, We need bear market for that, market will be in massive denial for weeks if real selloff begins, it will stall for long time before giving in, but once it gives up then it will go straight to hell.