Bullish Patterns in a Bull Market,
the most recent,an Inverted Head and Shoulders
would have played out with a bullish resolution.
However in a BEAR market,
bullish patterns ultimately, are rejected and fold like domino's
and price reverts to the previous downtrend,
with the failure, only adding,.. to the downside momentum,
and strengthening the BEARS hold on the market.
ON BALANCE VOLUME In the S+P 500 , is currently making new lows for the move,
a confirming BEARISH signal that shows the decline is very genuine,
as selling pressure continues to overwhelm buyers,
who keep looking for a bottom.., and keep calling for a bottom.
Sellers have been unloading massive amounts of shares, ( ON BALANCE VOLUME)
to the still believing bulls many of who have been long since 2940 All time High
this past September and believe it or not, they are still long today at 2630.,
over 300 downside points later to their predictions.
That is called DENIAL ,and until those believers finally capitulate,
and become true believers in the BEAR MARKET
prices will continue to drop..further and further away from them.
Call it a self fulfilling reverse prophesy.
THE BEAR MARKET NEEDS BELIEVERS TO GROW.
Only when the still hold out bulls
STOP.... talking predicting a rally,
will the market truly find a meaningful bottom,
somewhere down the yellow brick road.
CONTINUE TO SELL ALL RALLIES BACK TO 2670
the most recent,an Inverted Head and Shoulders
would have played out with a bullish resolution.
However in a BEAR market,
bullish patterns ultimately, are rejected and fold like domino's
and price reverts to the previous downtrend,
with the failure, only adding,.. to the downside momentum,
and strengthening the BEARS hold on the market.
ON BALANCE VOLUME In the S+P 500 , is currently making new lows for the move,
a confirming BEARISH signal that shows the decline is very genuine,
as selling pressure continues to overwhelm buyers,
who keep looking for a bottom.., and keep calling for a bottom.
Sellers have been unloading massive amounts of shares, ( ON BALANCE VOLUME)
to the still believing bulls many of who have been long since 2940 All time High
this past September and believe it or not, they are still long today at 2630.,
over 300 downside points later to their predictions.
That is called DENIAL ,and until those believers finally capitulate,
and become true believers in the BEAR MARKET
prices will continue to drop..further and further away from them.
Call it a self fulfilling reverse prophesy.
THE BEAR MARKET NEEDS BELIEVERS TO GROW.
Only when the still hold out bulls
STOP.... talking predicting a rally,
will the market truly find a meaningful bottom,
somewhere down the yellow brick road.
CONTINUE TO SELL ALL RALLIES BACK TO 2670
11/25/18
NEW YORK