The day a bear jumps out from his skin and goes long is the day the market goes down.
Dear Friends,
This is not Armageddon. We are not going to set new lows nor new highs for a while. The reason is the Fed put and CARES-2 on one hand and the shitty economy on the other. This fake movement is to get the VIX flowing again so 'real money' can be made by MM in selling you option premiums and then burning you. They have no other way to make any money!
I have switched from using trend indicators to harmonics because all this wave 4 chop messes up the indicators. Harmonics and chart patterns that work in the crazy world of currency should start working well in the equity world now. Plus too many algos are being "copied" over from the currency world into equity world and soon these markets will appear the same.
Caveat Emptor and good luck!
Longer term harmonic
Futures are better at nailing the dimensions of harmonics as they run through out the day.
www.tradingview.com/...Li8SpEpB-Going-down/
Dear Friends,
This is not Armageddon. We are not going to set new lows nor new highs for a while. The reason is the Fed put and CARES-2 on one hand and the shitty economy on the other. This fake movement is to get the VIX flowing again so 'real money' can be made by MM in selling you option premiums and then burning you. They have no other way to make any money!
I have switched from using trend indicators to harmonics because all this wave 4 chop messes up the indicators. Harmonics and chart patterns that work in the crazy world of currency should start working well in the equity world now. Plus too many algos are being "copied" over from the currency world into equity world and soon these markets will appear the same.
Caveat Emptor and good luck!
Longer term harmonic
Futures are better at nailing the dimensions of harmonics as they run through out the day.
www.tradingview.com/...Li8SpEpB-Going-down/
Comment:
day trade maybe
Comment:
failed to setup harmonic.
Comment:
lets try another one.
Comment:
Bravo, what a last minute flush today on Thursday to place it back of 285! Hopefully your stop losses triggered on the way down. I have puts expiring tomorrow. Hopefully, we close well below this level. I would expect an inverted red hammer tomorrow closing near the bottom from today if we are to make a push up next week.