SPX reached the downside price target on Friday. The timing is early though so probably bounce around and re-test supports for a few more days at least.
In my view it is early. I think support can be retested this week so not too appealing to chase upside here imo. In a few days once there is sufficient evidence that SPX has settled, then I'll consider a long trade.
The market is very likely to go through a flat period in my view next. Xmas is coming, often slow market around this time. Traders go on holidays etc...little action.
Drift sideways and with some retrace to 1420's imo.
sc..you have been talking about your "big picture" view for about eight months now.. lets see it. You have been hinting at a market collapse lets see big picture chart, pretty please. That huge VIX spike never happened.
SC, could you shed some light on the latest drop in gold and silver? in addition, both usd and yen drops. what does that mean? is the year end rally still in the picture? or is the big sell off about to take place? thx a lot!
Came to within 4 points of the white trendline on that dip. I think SPX probably just flattens out for about 3 days or so.
SCDecember 19, 2012 7:20 AM "SPX does look likely to drift and retrace lower for a few days imo. The white trendline is where the short term support should be located."
You have called Crash coming so many times, would be better and people more interested in what is the next move, not after the moves already made and market closed, then come out and post some emails stated that you see it coming, maybe that's why you are never wrong
Hi SC. Spent some enjoyable time over at ZZ's blog which has now gone the subscription routeso I'm out. Have read some past posts here and have a couple suggestions if I may.
1) create a "current trades" section. Keep this updated with your real time trades. 2). Create a section which shows your long term charts and views, another seperate section with your medium term charts, and another with Short term charts. 3) stick to the S&P along with Gold and Silver.
I think if you implemented these suggestions, you would be fully transparent and gain many more readers.
Thank you for the feedback. I agree that it is important to keep short term and longer term views separate as that can lead to confusion. Updating trades is a good idea as well to keep things current.
Certainly, I plan to implement a number of changes to the site going forward. Thanks again!
SS76, I still don't understand why they change to subscription site so abruptly. Don't want to be mean, but whoever that ANON guy was yesterday said what I had on my mind, Anthony's calls and Platy's calls have been quite off. Look at NUGT,gold and silver, if one is to follow their trades, deep red already. ZZ is more a long term guy, he went long wway too early too, of course now he is ok, but guys who don't have deep pocket like him, I remember reading this guy's comment, who bought at the same time as ZZ, but couldn't hold and sold at the panic bottom. That's why I am still thinking whether to try the subscription for maybe 1 month. I do think Karen has some amazing chart, and rotrot and gannman too, I would want to reda what they have to say more than what Anthony has to say...but even reading comments require subscription. What about you? Do you think you will try for 1 month after the new year just to see the new charts??
ZZ is really good and he averaged his position so he'll be just fine regardless. Anthony I respect cause he admitted he has been way off but his reasoning wasn't very good. Platy had some good calls but like you said she has been way off on the metals and nugt has been a disaster.
SCDecember 19, 2012 7:20 AM "SPX does look likely to drift and retrace lower for a few days imo. The white trendline is where the short term support should be located."
VIX spiked, but it seems premature. We are starting to see unusual behaviour in the market, and quite frankly given my Deja Vu pattern this is to be expected during this phase.
This is like the script to a B movie. I can hardly wait until the next act when the media proclaims that the "end of the world" has been averted due to a last minute fiscal cliff deal.
All's for the best in the best of all possible worlds！ I have not see post good enough like yours here.Just admire your intelligence and informative explanation. I am a wow gamer but can't write such detailed info about that. More tags:wow gold for cheap / world of warcraft money / gold for wow cheap / cheap gold for wow
No time to learn Chinese? Take online live lessons on demand, in real time, at your own pace. If you ever need to cancel or reschedule a tutoring appointment, just contact us no later than 6 hours before class.I am a Chinese teacher,you can learn more about Chinese language info: Learn Chinese | Learn mandarin | Chinese teachers
SPX reached the downside price target on Friday. The timing is early though so probably bounce around and re-test supports for a few more days at least.
ReplyDeleteWhat trade can we plan here ?
ReplyDeleteIn my view it is early. I think support can be retested this week so not too appealing to chase upside here imo. In a few days once there is sufficient evidence that SPX has settled, then I'll consider a long trade.
DeleteSPX rocketed off the 1412 support yesterday. Probably settle and retrace lower for a few days next.
ReplyDeleteHi SC
Deletewhat price you looking at with the retrace for the new few days on SPX?
is it back to 1412 or lower
Thanks!
The market is very likely to go through a flat period in my view next. Xmas is coming, often slow market around this time. Traders go on holidays etc...little action.
DeleteDrift sideways and with some retrace to 1420's imo.
SC...you are a GENIUS!
DeleteThank you, SC, for all of your guidance. Helps me navigate the market better. :P
ReplyDeleteThank you very much. We're approaching interesting territory in my model....
DeleteSPX does look likely to drift and retrace lower for a few days imo. The white trendline is where the short term support should be located.
ReplyDeletewhat lvl is the white TL today SC ?
ReplyDeleteIt is right around 1427 today.
Deletesc..you have been talking about your "big picture" view for about eight months now.. lets see it. You have been hinting at a market collapse lets see big picture chart, pretty please. That huge VIX spike never happened.
ReplyDeleteSC,
ReplyDeletetake a look at gold volatility index. It is cheap. Move is coming, which way? Gold spikes as markets sell off ... or everything sells off?
Both I think. Gold spikes then sells off with everything.
DeleteSC,
ReplyDeletecould you shed some light on the latest drop in gold and silver? in addition, both usd and yen drops. what does that mean? is the year end rally still in the picture? or is the big sell off about to take place? thx a lot!
Yes, I still see another push coming for SPX. There are some early warning signs that we are starting to see. VIX popped yesterday as well.
DeleteStill a little early but getting closer, and I think that is why some of these events are occurring.
Came to within 4 points of the white trendline on that dip. I think SPX probably just flattens out for about 3 days or so.
ReplyDeleteSCDecember 19, 2012 7:20 AM
"SPX does look likely to drift and retrace lower for a few days imo. The white trendline is where the short term support should be located."
pattern of Great Crash.
ReplyDeletehttp://humblestudent777.blogspot.com/
You have called Crash coming so many times, would be better and people more interested in what is the next move, not after the moves already made and market closed, then come out and post some emails stated that you see it coming, maybe that's why you are never wrong
DeleteHi SC. Spent some enjoyable time over at ZZ's blog which has now gone the subscription routeso I'm out. Have read some past posts here and have a couple suggestions if I may.
ReplyDelete1) create a "current trades" section. Keep this updated with your real time trades.
2). Create a section which shows your long term charts and views, another seperate section with your medium term charts, and another with Short term charts.
3) stick to the S&P along with Gold and Silver.
I think if you implemented these suggestions, you would be fully transparent and gain many more readers.
Thank you for the feedback. I agree that it is important to keep short term and longer term views separate as that can lead to confusion. Updating trades is a good idea as well to keep things current.
DeleteCertainly, I plan to implement a number of changes to the site going forward. Thanks again!
SS76, I still don't understand why they change to subscription site so abruptly. Don't want to be mean, but whoever that ANON guy was yesterday said what I had on my mind, Anthony's calls and Platy's calls have been quite off. Look at NUGT,gold and silver, if one is to follow their trades, deep red already. ZZ is more a long term guy, he went long wway too early too, of course now he is ok, but guys who don't have deep pocket like him, I remember reading this guy's comment, who bought at the same time as ZZ, but couldn't hold and sold at the panic bottom. That's why I am still thinking whether to try the subscription for maybe 1 month. I do think Karen has some amazing chart, and rotrot and gannman too, I would want to reda what they have to say more than what Anthony has to say...but even reading comments require subscription. What about you? Do you think you will try for 1 month after the new year just to see the new charts??
ReplyDeleteCurious, what's your email address?
DeleteZZ is really good and he averaged his position so he'll be just fine regardless. Anthony I respect cause he admitted he has been way off but his reasoning wasn't very good. Platy had some good calls but like you said she has been way off on the metals and nugt has been a disaster.
DeleteSince we both trade the canadian market also, it will be great to hear your input, my email is curiousmind3861@gmail.com, btw, HVU is on fire today.
DeleteWhat's the link to ZZ blog ??
ReplyDeleteS&P futures are acting crazy tonight. Dropped to 1391 in an instant, then rebounded back to around 1420.
ReplyDeleteSo Orchestrated. "end of the world". Absolutely ridiculous!
DeleteThat's true
ReplyDeleteSPX at the white trendline around 1427.
ReplyDeleteSCDecember 19, 2012 7:20 AM
ReplyDelete"SPX does look likely to drift and retrace lower for a few days imo. The white trendline is where the short term support should be located."
VIX spiked, but it seems premature. We are starting to see unusual behaviour in the market, and quite frankly given my Deja Vu pattern this is to be expected during this phase.
ReplyDeleteThis is like the script to a B movie. I can hardly wait until the next act when the media proclaims that the "end of the world" has been averted due to a last minute fiscal cliff deal.
ReplyDeleteWhat is the next expected move ?
ReplyDeleteIt could take a few days to solidify, then another push up for SPX. Final push.
DeleteFrom some cycles Monday is a candidate for the next low for SPX.
DeleteIf it undershoots the white trendline then 1420 may be possible.
DeleteWill have charts this weekend.
ReplyDeleteAs long as 1420 holds, then the uptrend remains in tact as part of a rising wedge.
ReplyDelete1415 to 1420 does look really important.
DeleteI think NUGT is a buy here. All the sell signals are at their weakest and its due for a rebound.
ReplyDeletehttp://barchart.com/opinions/etf/NUGT&view=detailed
SPX has cooled off and is due to test supports this week. Additional time spent in re-testing support is probable this week.
ReplyDeleteswtor gold
buy swtor credits
cheap swtor credits
tor credits
buy tor credits
cheap tor credits
As long as 1420 holds, then the uptrend remains in tact as part of a rising wedge.guild wars 2 gold
ReplyDeletebuy guild wars 2 gold
cheap guild wars 2 gold
cheapest guild wars 2 gold
guild wars 2 gold for sale
All's for the best in the best of all possible worlds！ I have not see post good enough like yours here.Just admire your intelligence and informative explanation. I am a wow gamer but can't write such detailed info about that.
ReplyDeleteMore tags: wow gold for cheap /
world of warcraft money /
gold for wow cheap /
cheap gold for wow
No time to learn Chinese? Take online live lessons on demand, in real time, at your own pace. If you ever need to cancel or reschedule a tutoring appointment, just contact us no later than 6 hours before class.I am a Chinese teacher,you can learn more about Chinese language info: Learn Chinese | Learn mandarin | Chinese teachers
ReplyDelete