Of course, the projected future waves are pure speculation and I'm not expecting any patterns to repeat themselves exactly. There do exist, however, 7-year and 13-year cycles in the market that deserve consideration and further research, considering the similarities I believe to be showing quite clearly in this comparison. I have made an effort to simplify this...
The SPY has been consolidating over the past few days, but technicals indicate it may push into new highs soon. Keep an eye out for rejection at 198.20, which might indicate a triple top and pending reversal, but any clearance would be a safe entry point to go long. Careful shorting on the rejection, since it could be a 0.5% gap fill.
Hypothesis: S&P 500 (and the market as a whole) is approaching a series of consolidations: a) Consolidation 1: - signal: as soon as RSI begins to fall (past dotted yellow lines) - magnitude: ~10% - time: July 31st (possibly earlier) * The timing is based off of historical cycles. The current cycle is much slower than the 2002 / 2008 cycles --> 42% to 115%...
Market looking at healthy break (thank volatility) in long-term bear market. Huge pumps/Long being taken out. I called April 10th the lowest low, I see that staying like that for a while unless down-trend hasn't been broken. Good news, hype and some bitcoin innovations have lead to a small bull upbringing. imo, I believe that up to 650+ is more plausible and...
Delta Air Lines, Inc. provides scheduled air transportation for passengers and cargo worldwide. Today a trader bought over 2,000 5.9.2014 37 Calls for $.74. This gives the buyer of the Calls, the right but not obligation to buy 200,000 shares of stock at $37 between now and next week and they paid a Cash Outlay of $150,000. With recent sell-offs in UAL and AAL,...
This current bubble has overextended itself to ridiculous levels. This thing will come down, hard. Look for double tops and bearish chart patterns coming in the next weeks, and months. Tread carefully. To further this situation, gold and silver are sitting like a coiled spring, ready to pounce on this move. Check out my other idea here.
I have been adding to my silver position for months and months along this most recent bottom. At this point, silver seems like it has been beaten down to it's absolute bottom. It is currently sitting along the .764 fib level, which also happens to be the bottom of the donchian channels. The RSI is as oversold as it was at the beginning of the '08 bubble. Bullish...