Loading ...had some usefull technics ,like the squaring of TIME and PRICE then change occurs…..Some latter day chartists use to say the top price is the same as the length of time it took to get there ..like a 90 degree carpenters rule..(Right angle) .I also like RENKO charts because they are like point and Figure charts that look at price only to time change of direction ….
ipso facto @ 15:26 on June 3, 2020
Seasonals are usefull for a trend following ,like a BIG picture..them short term charts to hone in on exact dates using stochastics with various dates like 3 day crossovers and 21 day cross over .I like using Fibonacci numbers in averages like 3,8,21,34 ,for a broader time I convert 14,3 stochastics to 144,31 stochastics it give a short term then longer term picture..Seasonals are a starting place only ,better to run with the wind at your back ,then sprint to the finish line..
Thanks for the definition of Gallant
Mr. Copper. I know a great man who graces these pages with this name and it helps me understand him more. He is this exact quality and a great man.
re Dow, SnP, Russ 2000, Naz, etc, general stocks The Players are making a Gallant Endeavour
Hey we all know, if things go too high too fast, its a disappointment, not a good sign. It happened to us too many times on the way to $1700.
Gallant (of a person or their behavior brave; heroic)
Endeavor (an attempt to achieve a goal try hard to do or achieve something)
Indices Chart, 5 years: https://finviz.com/futures_charts.ashx?t=INDICES&p=m1
Note: If the buyers have a secrete or sub conscious desire to lose, they will keep on plowing in more and more funds until prices get really good and high, so they really “get it” real good and hard. (success) 🙂 That’s what gamblers do. Keep on playing until they lose it all. But not addicted to gambling. Addicted to losing.
3 other Minneapolis police officers charged in George Floyd’s death, Chauvin charges upgraded
MINNEAPOLIS (FOX 9) – All four now-fired Minneapolis police officers involved in the death of George Floyd are now charged.
The charges against former officer Derek Chauvin have been upgraded to second-degree murder. Court records now show Chauvin is charged with second-degree murder without intent, third-degree murder and second-degree manslaughter. With the upgraded murder charge, his bail has been upped from $500,000 to $1 million.
The other three officers–Tou Thao, Thomas Lane and J. Alexander Kueng–are now charged with aiding and abetting second-degree murder and aiding and abetting second-degree manslaughter.
Ororeef @ 14:27
I sure hope it doesn’t take two weeks for us to bottom!
I don’t put too much credence in the seasonal charts. They’re an average and things may or may not happen as they predict.
Richard640 @ 14:04
None of that means doodly-squat at a potential super-cycle top.
The bounce in stocks could go on for months like in ’30.
Lots of idiot specs to chew through.
Cheers
Not seeing heavy volume
Would’ve thought we’d see extreme selling in GLD, SLV and the shares today, but looks like it will be average at best.
Brutal day nonetheless.
CAPTAIN–this is the 11th straight day of gains for stocks…
. Look at the VVIX today-it shows traders expect the VIX to be higher
The Cboe VVIX Index (the VVIX) represents a volatility of volatility in the sense that it measures the expected volatility of the 30-day forward price of VIX®. This forward price is the price of a hypothetical VIX futures contract that expires in 30 days..the SQQQ [3xshort] and Qid-[2xshort] are both back to their pre-crash lows–
LOL
This man is living in 2090. #2020Protests pic.twitter.com/VwydvmyC6V
— Omar M. Khateeb (@OmarMKhateeb) June 3, 2020
I would guess that
there’s a lot of bigly money looking to go into the precious metals and shares … looking for a decent entry point. I don’t think this downdraft will last long.
Tit for Tat
Trump Admin Bars Chinese Passenger Planes To US
The move by the Trump administration comes in response to China refusing to allow US airlines to resume passenger service in the country. The Trump administration claimed last month that the Chinese government has made it near impossible for US carriers to operate in the country.
The new order banning all Chinese passenger airplanes from US flights is expected to take effect on June 16. More details will be announced in the afternoon hours on Wednesday.
Offshore Yuan has slumped to 7.1253 on the Reuters report.
https://www.zerohedge.com/markets/trump-admin-set-bar-chinese-passenger-planes-us
Richard640 @ 11:54
Exactly — once the highs are exceeded and the ratios turn down you can try shorting.
Cheers
I will send a cashiers check for $200 t0 anyone who can give me a satisfactory explanation as to why QID is only down 5 cents as I write
Izzit the “never say die” shorts?…I don’t think so…all the other long vol ETFs are down 4 to 8 percent
Now we have a new wall to break down ….$ 1700 gold….scum sitting on it.
Buygold
My work has a small 4th down here….another 3 days..then shud run again,classic scum attack on NEM today, hit way harder than the rest…
Captain–great point about the double top–but, perhaps, inadvertantly–u have set the conditions for a good short trade, finally
As the NAZ breaks thru the double top today… thursday and again….then on friday on the open…Fiday mornings opening surge will be devoid of the NAZ shorting club members…THEN it will roll over, creating a false breakout failure…and friday ends down 2000 DOW points….[giggle…or so the fantasy goes]…
But hey! Let’s sit and look at paper profits on a Bloomberg screen as a delicious meal is about to be delivered by a gig worker risking Covid-19 and street robbery and who earns less than the minimum wage! Everything everywhere is being resolved Hollywood style, right?
Meanwhile, back in the home of the real Hollywood, nationwide street protests show few signs of abating – and markets keep going up and risk remains on. There are two equally-depressing conclusions here: 1) We no longer have actual markets due to central-bank elevation of moral hazard to the foundational pillar of financial capitalism; 2) We still have markets, but they find the idea of the US military operating on the streets to quell popular unrest to be reassuring – just as it would be in a banana republic where the asset holders are traditionally happy to do ‘whatever it takes’ to keep the peasants in line (incidentally, this may not be too far off; see “It’s Official: The United States Is Now A Banana Republic“.
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Like the one ominous black spot on X-ray of an otherwise perfectly healthy looking pancreas, Apple—the U.S. stock market bellweather— [all the other FANG stocks are down]—is up just 38 cents—this is the only blemish I can find in todays market profile…
@Buygold re your “Interesting that we’ve been getting whacked as the USD has been falling”
Maybe its time to get bullish on the Dopey/Dollar?
USD was propelled up in April then went choppy lateral.
https://finviz.com/futures_charts.ashx?t=CURRENCIES&p=d1
Gold was propelled up in April then went choppy lateral.
https://finviz.com/futures_charts.ashx?t=METALS&p=d1
Interesting that we’ve been getting whacked as the USD has been falling
I guess maybe not all that interesting, the scum does what they want.
Surprised we haven’t seen any dip buyers show up, BTD has been working for awhile in pm’s and shares…
I picked up some NEM @ $55.44 – we’ll see if I’m the greater fool.
Richard640 @ 10:51
That’s exactly what is happening with that piece of crap. Stupids short it and it continues to trade way above its fundamental value.
The Nasdaq is now back at the highs. Idiot specs, who are only semi-conscious, are saying to themselves, I’m pressing my bet here at the ‘double top’ — these stocks are way overvalued — they can’t possibly go higher.
Then they wake up tomorrow and stocks are higher because of them — then they cover send stocks even higher.
I think once the highs have been exceeded techs will top because the idiots specs won’t know what to think other than ‘I guess it’s a bull’. I don’t know what happens after that in terms of how much stocks will go down, but then I don’t worry about that.
I just do the opposite of the idiot consensus.
Cheers