Quote:
Originally Posted by mact3333
You mean like 30 pts off the 300 pts I have called so far?...  ...where were you when I called ST bottom near 1820?...I called top at 1950-70 and we get to 1947 and we close today at 1930 and you're complaining ...you can do better.
Still no calls from you??..unlike you, I make my calls days to weeks in advance, I don't show up to criticize after the mkt closes lol.
Well, make your call "now" where mkts will be in few weeks...time stamp it now...ask me to and I will gladly do it right now lol...  . |
The thing is your "predictions" are not that remarkable when they are at technical levels that most professionals know. When one support breaks, the next target is another level. Same goes for resistance (durrrrrr). The real key is to MAKE MONEY on your calls. Walking the walk instead of just talking. Something I think you don't do. Hence why today you were very wrong (dead money wrong).
So here is my analysis along the lines of how your "crystal ball" sees it.
Today was an interesting and somewhat important day. Let's just use the S&P for this one. The finish above 1925 indicates a lack of conviction shorting, with maybe a bit of buying mixed in. The clear resistance around 1945 will remain an overhang, unless/until it is violated. Here is the interesting setup. There is an inverse head and shoulder pattern setting up with the key being if the second shoulder is formed at 1869ish. The reason I say "ish" is the zone is between 1869-1873. Any drop below that will open the floodgates and we will be making new lows (1780ish followed by 1567). The flattening of the Russell 2000 is showing signs of upward strength, though with resistance at 1030. This is a good/interesting sign for the S&P. Possible risk on coming. Weakening in Utes, Telecom, and Staples are showing this too.
So what is my thinking? If the S&P breaks through 1869 all bets are to the downside. If it holds and retraces back to the 1925 - 1950 range there is a strong possibility we rip up to the 2030 area. Wanna know what is really interesting about this? The time frame for the completion of this movement looks to fall around the Fed meeting in mid March. Central bank (ECB, BoJ, BOE, maybe sprinkle in some PBoC, capped off by the Fed) rhetoric/data will determine the setup over the next few weeks.