Don't know if my glasses are just too bearish, but there is something not right about this chart. I originally thought that when oil prices went sub-zero it would be the end of a big major wave 3 in the oil bear market. However, it seems to have rebounded too quickly and too high for a 4th wave. Therefore, that bottom would more likely be better classified as...
The P/C ratio hit absolute extremes which historically suggest a market top a few days ago and the overall structure over the past two weeks resembles the Feb 2020 top to the day. With the QQQ overload, I can see clearly that the tsunami mays just around the corner, exactly as an important resistance line is about to break and everyone about to jump on the bull train.
Although I trade mostly U.S. stocks, Canada is actually my home country and dearest to my heart. Unfortunately, I see the same long term economic consequences in the years ahead, perhaps even worse than America. Canada is a great nation and believe it is still one of the remaining nations of great integrity and honesty. However, we face economic hurdles,...
Ladies & gents, it has been a gruelling number of weeks waiting for this second wave bear market rally to complete, but with the drop over the last two days and this morning, I am convinced that we have entered the next leg down. As promised, I am now posting my overall outlook for the bear market which I believe will initially last about 57 weeks. I will...
People continuing to feverishly *long* this market, especially future's and options speculators taking on extreme risk, do not seem to understand the bigger picture risk that might be involved. The March 2020 crash made historic records in every single technical department. Let me say this again. NOTHING in our world's advanced databases matched the speed and...
I think I finally found the catalyst that will finally kick off the second leg of this bear market. Treasury yield rates are about to skyrocket. Debt will become unmanageable. Nobody will want the money injected by the FED at high interest levels. FED will lose control. Remember, the economy starts to die when yield rates invert. It collapses when yield rates...
The wedge breakout I observed two weeks ago turned out to be a dud, but it then proceeded to create a double wedge structure. Early this morning, the Phoenix again appears to have broken out of its chains (the double wedge structure OR bull flag). As this has become an incredibly difficult rally to analyze, I will take it one step at a time before jumping to...
Cryptos abruptly dropped 10%+ over this weekend's session forming a massive red candle in what could already be a bear market continuation. Short term it is stunning. Even more interesting is the longer term picture. Could cryptos be a leading indicator to what other bears and I have been waving red flags around about the stock market in general? Since 2018,...
One day after I last posted about oil, crude prices sank to -50$ per barrel for the first time in history. A mere week later, market action seems to suggest that everything will be fine and dandy now. Will it? There are two paths that I see moving forward for oil based on the long term elliott count, and neither are pretty. 1) The more optimistic scenario is...
Are you dizzy and nauseated by the market action this week? Are you a bear feeling like you are a wreck and on the wrong side of the camp? Are you a bull feeling like the 'V' shaped super recovery is grinding into high gear? Well, that's how bear market rallies are supposed to make us feel. It's dizzying because of the divergence. It's nauseating because of the...
My observation is that the KING (AAPL) representing 5% of the U.S. stock market is in checkmate and kicking off the second leg of the bear market overnight, along with the other tech giant that reported today, AMZN. In fact, pretty much all tech stocks are making their final *gasp* spikes and about to return to earthly valuation.
Since my original post on this bearish scenario, the market has chopped up and down for weeks and finally there has been a stronger move up over the past two days. However... those moves were primarily gaps formed in the future's market which do not provide strong support. The technical TRIN and PCC readings I have been following to identify the true bottom have...
So, while the market is blasting up today, business insurance companies are dumping. Hmmm... I wonder why?
COVID-19 seems to have brought out the short sightedness of our societies into full light. 1 month into this dark tragic "centurion" event, and central blanks and governments have completed blown all their reserves, and the masses already believe that the economic damage (to the stock market) will soon be over. My longer term vision suggests that we have barely...
This rally has certainly lasted a lot longer than i expected. However, it is possible that the Phoenix is ready to soar again. Many expect a quick return to ATHs, and that is certainly possible. More expect a final retest of the March lows. I personally still expect that the Phoenix will obliterate almost everything in the next round, whenever it...
This post is mainly for the people already following my bearish technical analysis. It has been a difficult rally to navigate but here is what it currently looks like in my eyes. We are near completion of an ABC rally from the March 23rd bottom. We formed a bearish wedge pattern since then, kissed the top twice during the top of the 'A' and 'C' waves. This...
Found this SNEAKY dark pool print at the last hour of day! It is likely MASSIVE institutional selling into the Easter long weekend. This ETFs top holdings are the market leaders MSFT AAPL AMZN GOOGL and FB. Look at that end of day volume spike! Please rest well and be mentally prepared for next week.
Circling high in the sky, Assessing the ruins of its initial attack, Still burning far below. The Phoenix patiently waits, Carefully studying the wizards' traps, Never wanting to be chained again. Do not be fooled, For when the Phoenix makes its final strike, It shall leave nothing but dust and ashes. Although we are being called by media to start buying back...