Originally Posted by Vanity
You making more money than your professors yet?
Glad I went full short again, Japan's index is down -2% and Aus is down -1% too. After a powerful 60 handle rally on the SPX, everything is reset for another leg down. I'm thinking in the vicinity of a 50-100 sell off on the SPX. ST target anywhere from 1215-1265 from our current 1315.
Like I said before, if crash doesn't happen then we are going to rally up, and that's going to cause a much larger crash. The main body isn't even here yet because of this prop-up this week. But you can't hold back a Mama Bear.
I think I passed them up a while ago
She will get here eventually slowly
Originally Posted by r0wr
The pull back today confirmed my 2 leg theory and I believe that the first up leg is now over. we may see further pull backs tomorrow but I personally believe there will be another leg up. Realize that I personally think there will be two legs up but there is definitely a possibility of a third leg up just as well. I just think that it's going to be a short term rebound and eventually we will continue back downwards. In terms of the bigger picture, I still think we will break the 06/04 lows, which in my book implies that the intermediate-term is still short.
And this is the reason I believe slowly! I agree if there is going to be a large fall we will have a few days of re-consolidating in between (as we saw this week). Even if you pull up last years charts before the large drop we had Two legs up before the final fall (as you can see in the ellipse below)
PS: sorry for the shitty quality of the charts at my gfs house using her computer and it sucks -_-