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The Bear Is Out For Blood
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The Bear Is Out For Blood

by The MoleFebruary 5, 2018

It’s going to be a bare bone post for me today as I’ve worked through the weekend (again) and am feeling the pinch a little. But things are transpiring swiftly across the board, so let’s proceed directly to the meat counter. Speaking of which, the bear is awake, and having hibernated several seasons he’s out for blood. So unless you run faster than 35mph you are officially breakfast and lunch. Now if you’re hailing from W. Virginia or MississippiΒ then you’re breakfast, lunch, and dinner πŸ˜‰

Bitcoin apparently isn’t done scaring the children as the floor pattern that started forming last Friday was first put on notice and then invalidated earlier today. I would not recommend to go bottom fishing here just yet until we see a retested spike low at minimum.

Observe the continuous sequence of lower highs and lower lows. I don’t have a crystal ball but this formation does not yet look complete to me. And there are still a ton of U.S. crypto traders who are going to puke all over their breakfast this morning. Meaning there’s still meat on the bone for the angry bear.

Now here’s Stellar for comparison, one of the lower rated crypto currencies in circulation. Looks tame in comparison right? Well, looks on log charts can be deceiving…

Well, it’s almost been cut by 2/3 while BTC has been slammed by 1/3. XRP and ETH have been hit a lot harder than e.g. BTC or XMR. So if I was pair trading here I’d consider going long the biggest losers and hedging with BTC or XMR.

The sell off in equities may be nearing its temporary completion although it’s tough to say when exactly we’ll see a floor as we are now paying the cost of an effervescent multi-year bull market. No context to hang our analytical hats on. To me this current formation is still looking incomplete – so we may get a leg up followed by another down.

Of course we saw this coming three miles against the wind. I am sure you recall my various posts on the subject in mid to late January. Seems like the perma-bullish excesses of the past few months have finally come home to roost.

Evil Speculator Rule 462: When you see prominent politicians repeatedly take credit for a bull market then you know it’s time to quietly cash out your chips.

Our Dollar campaign is still hanging in there. Could go either way at this point but we are basically positioned near a major inflection point.

If 88.2 gives way then I expect more ugliness for the greenback. Let’s not forget that we are in a bear market and on a medium term basis everything continues to point down. The monthly offers a small glimmer of hope courtesy of the 100-month SMA but yeah – who am I kidding… it hasn’t been touched for years, so its validity is questionable.

Our USD/JPY campaign may reach an early conclusion but the fat lady has not yet sung. Holding my trail near 1R and let’s see if a bounce will materialize during the NYSE session.

One more goodie below the fold for my intrepid subs:

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About The Author
The Mole
Mole created Evil Speculator amidst the chaos of the financial crisis in early August of 2008. His vision for Evil Speculator is a refuge of reason, hands-on trading knowledge, and inspiration for traders of all ages and stripes. You can follow him and his nefarious schemes at the usual social media waterholes.
Enjoyed this post? Consider a small donation to keep those evil deeds coming!

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  • HD

    BTC. 7600 got the reaction but only 3 waves, ie. corrective. New impulse. Conservative wait for 2-4 TL. Next fib level and symmetry near 7100, 7000 roundy. Approaching swiftly. IMO there is a 3500-5000 bounce coming. https://uploads.disquscdn.com/images/b997cf7991f86a7506e78f9a4e0c69404591352456014d53ac70492717e676e0.png

  • HD

    anybody buying the open?

  • http://gerb-reloaded.blogspot.com/ Gold_Gerb

    But I was going to be a Billionaire..
    πŸ˜‰
    https://www.youtube.com/watch?v=UG7zLhEWanc

  • http://gerb-reloaded.blogspot.com/ Gold_Gerb

    ask Elliot. {chuckle}

  • https://evilspeculator.com Sir Mole III

    Was anyone else drunk this weekend and tore up Philly? πŸ˜‰

  • Yoda

    Closed the VXX trade at the open

  • Yoda

    Yes still in recovery mode for me

  • ridingwaves

    the Jan 10th candle held, might get a little ride up here

  • HD

    10 handles in 6 minutes off 27(34) pivot. You were saying…. πŸ™‚

  • HD

    great game. Congrats Eagles fans. Nick Foles was our UA qb. Very cool to see him win.

  • HD

    $VIX 18+, 2% moves potential. This may be as good as it gets this year. Be quick and accurate. GL

  • Tomcat

    Shorting $CL here and waiting for $GC to come up to short it.

  • StockTalker

    Bull attempt coming

  • ridingwaves

    definitely a fans game, referees were letting them play, I have a meeting in Doylestown this week with big auto group and I’m thinking of closing them hard on euphoria…

  • BobbyLow

    Mornin Folks,

    They Eagles played a great game and deserved to win. The Pats had their chances and failed. No excuses and Congrats to the Eagles.

  • StockTalker

    Big swings here, watching for a 50% retrace.

  • ridingwaves

    Pats played lights out also…the ball knocked out of Brady’s hand was the big play of game…

  • StockTalker

    FYI, you could also see a 26k back test on the /YM

  • ridingwaves

    VIX hit PNF target objective already, be nimble

  • Mark Shinnick

    So far I don’t see “oversold” as much as I see correction of “overbot”.

  • BobbyLow

    FBOW, I just shorted it via SCO and picked up a short of OIH as well.

  • Tomcat

    Nice one.

  • ridingwaves

    big SPY seller at 274 and change needs to be gapped up, here we go

  • Tomcat

    Not sure if I will get a fill on Gold.

  • http://gerb-reloaded.blogspot.com/ Gold_Gerb
  • Tomcat

    BIG toe

  • daverg

    is the market pulling down bitcoin or is bitcoin pulling the down the market?
    since bitcoin started rolling over first
    i say the latter

    i think the posts here prove it !!
    no ??

  • http://gerb-reloaded.blogspot.com/ Gold_Gerb
  • daverg

    you like stockcharts? Is that what you are posting from ?

  • StockTalker

    Can run above 25400, don’t under estimate these bulls.

  • http://gerb-reloaded.blogspot.com/ Gold_Gerb

    yes, been using it for Mmmmm 7 years?
    universal, on the web, great uptime, and…..free.

  • daverg

    i like it too, trying to figure out which features work best .

  • Mark Shinnick

    Broaden your POV, take in more history if possible.

  • ridingwaves

    SPY can backtest 276.50

  • Tomcat

    correlation doesnt necessarily mean causation

  • http://gerb-reloaded.blogspot.com/ Gold_Gerb
  • StockTalker

    Have a tendency to do that, let r run. first roadblock on the /YM is 25750

  • ridingwaves

    maybe 277 first inflection, than 279 per your chart

  • Mark Shinnick

    I took 3x leveraged bear trades, not the “set-and-forget-it” sh, but might be tempted to cover that. by now. I saw that as a longer term position stab for longer term holders, however.

  • StockTalker

    Welcome to a bear market:)

  • StockTalker

    Will make an attempt to short at 25500

  • Mark Shinnick

    Could be, those holders of a presumed market top I think are looking for holding a stable position,; I figured that might be a good shot at it for them.

  • HD

    Closed /ES long from open, BTC -300 swiftly, 7100 on deck?

  • http://gerb-reloaded.blogspot.com/ Gold_Gerb
  • ridingwaves

    the big dip is coming, hard to time it right now but I think we go much lower than this…warm up

  • StockTalker

    If I see a huge bull run here the market is telling me something.

  • http://gerb-reloaded.blogspot.com/ Gold_Gerb

    there’s not much on the calendar this week!

    https://finviz.com/calendar.ashx

  • StockTalker

    Glad someone else agrees.

  • http://gerb-reloaded.blogspot.com/ Gold_Gerb
  • HD

    The EW, recap. 1/29 noted SPX ‘overlapped’ previous weeks high for first time this year, 1/30 28(34) pivot bullish above- bearish below, 2/5 SPX trades down 100 handles pivot to pivot. Feb stat 6:8 HH’s for this bull market still valid. Close above 27(55) gate keeper.

  • daverg

    point me towards “more history”

  • HD

    Hi Mark, FWIW my 1 indicator was DITD oversold.

  • StockTalker

    If she does not get out of the gate here going down hard but that is not going to happen yet. Never know, prepared for either direction.

  • Mark Shinnick

    It is hard to get right when all we’ve seen so far is a return to mean correction of the overbot. That would be a good camouflage for trapping BTFD’s

  • StockTalker

    Stopped out on BTC

  • http://gerb-reloaded.blogspot.com/ Gold_Gerb
  • http://gerb-reloaded.blogspot.com/ Gold_Gerb

    Inverse Treasuries 20 year – significant boundary cross IMHO.

    http://stockcharts.com/h-sc/ui?s=TBT&p=D&yr=1&mn=6&dy=0&id=p22317862398

  • http://gerb-reloaded.blogspot.com/ Gold_Gerb

    Over rated.
    look mate.
    read these 10 things, memorize them, hell tatoo them on your body.
    πŸ˜‰

    https://evilspeculator.com/ten-trading-rules-for-avoiding-extinction/

  • Mark Shinnick

    Really think so, its that same megatrend break.

  • Ian Naugler

    Long from 72xx liquidation around 68xx, I think this might be sell the rumor buy the news on CFTC/SEC hearing this week

  • http://gerb-reloaded.blogspot.com/ Gold_Gerb

    where’s JULIE?
    I wonder if her coworkers are use to the volatility?
    he he

    https://ledelano.files.wordpress.com/2016/03/depositphotos_14263095_s-20153.jpg?w=277&h=352

  • Mark Shinnick

    Well, for one thing why would a crypto symbol with a very tiny micro fraction of stocks, real estate, bonds and derivatives capitalization ever be so influential?

  • StockTalker

    One more leg up to complete this wave. Shorting /YM 25500 for the upside and 25380 to the downside. Caught the leg up

  • StockTalker

    This is a dream come true:)

  • StockTalker

    Hanging tight here, just a stop run. Still going up for now.

  • Mark Shinnick

    One physicist’s understanding of the Big game:
    https://www.youtube.com/watch?v=fT8LaMrn_MM

  • ridingwaves

    sellers still in control…bullishness is waning, dip buyers not as motivated…
    BPSPX around 70-72 on daily makes sense for bleeding to stop….

  • http://gerb-reloaded.blogspot.com/ Gold_Gerb

    BPSPX daily,
    now that’s some serious downhill momentum.

    http://stockcharts.com/h-sc/ui?s=%24BPSPX&p=D&yr=3&mn=0&dy=0&id=p87316676646

  • Mark Shinnick

    Seems so, I don’t see relative blow off type energies.

  • http://gerb-reloaded.blogspot.com/ Gold_Gerb

    if you were long, balls to the wall last week.

    you may not want to watch this clip.
    πŸ˜‰

    https://www.youtube.com/watch?v=I-hadDvJseg

  • Tomcat

    I went for a hail Mary and took a small long on ES this morning. Looks like I will get stopped out @ daily low.

  • ridingwaves

    66 touch replication of last move?

  • http://gerb-reloaded.blogspot.com/ Gold_Gerb

    low probability, high reward. not to be discouraged. some people benefit very well off of risk taking like that.

  • http://gerb-reloaded.blogspot.com/ Gold_Gerb

    ..interference around 72, stop at 70 median. IMHO.
    EDIT: or 66. πŸ˜‰

  • StockTalker

    Bulls get one more stab at it here, see what they got.

  • Tomcat

    Sure, but I prefer HIGH probability and HIGH reward. Those setups dont come to often though…

  • Tomcat

    Curious if you are a day trader? If yes, how many execution per day do you avg?

  • StockTalker

    10-15

  • Tomcat
  • Tomcat

    does this mean, you do this full time?

  • Mark Shinnick

    Well, I guess nobody can ever take his experience away from him.

  • StockTalker

    Yes, have a few businesses as well.

  • http://gerb-reloaded.blogspot.com/ Gold_Gerb
  • BobbyLow

    This isn’t something I would do especially going to a place that’s so frigging cold, but if the markets have a severe downturn like 2001 and 2008/09 then at least he had the benefit of being at the SB and seeing his team win. πŸ™‚ Prospects for a continued market rise like the past 8 years are ????????????

  • StockTalker

    Careful of a late day rally here. Need to run stops, don’t see the bulls giving up that easy.

  • http://gerb-reloaded.blogspot.com/ Gold_Gerb

    He could die of some accidental or unforseen event later this year.
    Life is Short. Party on Garth!

  • http://gerb-reloaded.blogspot.com/ Gold_Gerb

    that’s when you need the Zero. anything above VWAP? go for it!

  • StockTalker

    Got my own:)

  • ridingwaves

    XLF may need to wash out at 28, WF fed action and earnings taken bite out of it right now…
    it was the proxy to move higher, now kind of hurting…

  • http://gerb-reloaded.blogspot.com/ Gold_Gerb

    …I do enjoy the crypto chart in the right panel.
    BTC 7220

    sitting at work, I’m limited.

  • ridingwaves

    he’s probably seeing it as good thing being that they won, maybe not so if they lost

  • Tomcat

    Sure, but I wonder how he would have felt had the Eagles lost. Also, how is he gonna feel having to work another 10-20 years because of this “memory”. I guess we will agree to disagree. I find it stupid supporting your team by putting your life/retirement on the line…

  • ridingwaves

    XLE taking it in chin now

  • Mark Shinnick

    Ok, lets see what happens here πŸ™‚

  • HD

    Sweet. 25+ point moves
    Same 2734 pivot

  • http://gerb-reloaded.blogspot.com/ Gold_Gerb
  • BobbyLow

    Like I said this isn’t something I would do. . .

    /CL has been kind of squirrly all morning but just got its head right. πŸ™‚

    Still waitng on Gold.

  • StockTalker

    Go bulls

  • Julie

    Hi GG Watching to short the lower highs on a bounce XHB UNP and GDX. GDX still dropping. BAC opened lower and bouncing
    JULIE

  • Tomcat

    Yeah, taking some off the table here. Keeping my RB short.

  • http://gerb-reloaded.blogspot.com/ Gold_Gerb

    GDX, don’t remind me. Hedge with DUST just now.

  • Julie

    I stated that a trade shortly would be shorting Texas Tea and long the greenback. If USO closes red below 13.05 will open a small short and add below 12.76
    JULIE

  • http://gerb-reloaded.blogspot.com/ Gold_Gerb

    yes, the greenback is holding on today’s weekly.
    all this drama, people tend to forget.

  • Tomcat

    you are on fire today

  • http://gerb-reloaded.blogspot.com/ Gold_Gerb

    ..at the stake. he he.

  • HD

    If ur an indicator type –
    since Dec high BTC what’s the profile for a bounce on the daily? From my lens we have those conditions.

  • daverg

    crypto’s have nothing to do with those items you mentioned or their markets. Everyone I know has a crypto mining operation in their homes/basements, etc. They are freaking out with price drop. Maybe look at the impact on whole economy. Been to an electronic’s store recently? They are out of stock on nearly all the essentials you need to build a mining rig. Power supply, cards, graphic cards. So their is some impact on the electronic side and on the supply side of the equation (people mining, miners) and their ability , or perceived ability to spend what is now a lot less earned capital (should they decide to cash out at these prices). Been to craig’s list recently? See the prices on these mining rigs?

  • HD

    10 handle rally!
    Thinkers 0
    Reactors 3

  • StockTalker

    Remaining long through tomorrow, I want to see some sort of back test now.

  • StockTalker

    /NG looks like toast

  • Mark Shinnick

    I’ll never forget that 85 super bowl, I was the only smiling face in the sea of Pats fans….because it was all such a damn amazing miracle we all even there in the first place….WTF could have possibly figured we could beat that obviously superior Bear tram of 85?….yet that was the irrational setup for disappointment. It was just one hell of a great experience to have made it that far. That Giants guy’s take-home is for life; nothing like what the markets ever give us.

  • ridingwaves

    true, but I would have went with a dive vacation in Fiji or Roatan for 7 days at same cost…different strokes for different folks

  • http://gerb-reloaded.blogspot.com/ Gold_Gerb
  • Tomcat

    Actually, its come close to a lot of support. 2.5 area is where you pull the trigger

  • ridingwaves

    2690 good spot to go long for a bit

  • HD

    Hit the 7100 noted before open. Got filled 7070. It feels terrible.

  • Mark Shinnick

    …and the food πŸ™‚ . I paid for most of my Superbowl with my first (and probably last sports bet) Whole different life these days of course, Fiji or Roatan, count me in πŸ™‚

  • BobbyLow

    I’ll never forget that season. Winning 3 games as big underdogs on the road to get there led us to thinking maybe, just maybe we could do it and got whacked instead. However, the most dissapointing SB loss for me was against the Giants after the 2007 Season going for a 19-0 perfect season.

    But dissapointing losses by my favorite sports teams helped give me a different perspective in the biggest and most important game of all which is my life. Simple questions like am I happy? Healthy? How’s my family doing? Hows my trading going? These are the things that really matter to me. All the rest is purely entertainment.

  • Mark Shinnick

    Acceleration would be natural around here.

  • Mark Shinnick

    Yeah, I still don’t see any of this as but overbot correction.

  • BobbyLow

    OK I don’t get it. I can see quick day trades on the long side on some of the equity indices or even BTC for that matter but can anyone give me a good reason WTF anyone would want to take an extented long position right now? I could be wrong but this looks like falling knives all over the place.

  • HD

    Dude this is a crash. 5+% now.
    VIX 21+ massive risk either way.

  • Mark Shinnick
  • StockTalker

    Ya, got /YM at support 25k

  • StockTalker

    Trying now, 2.75

  • HD

    They let me know that was wrong immediately.

  • Mark Shinnick

    Years of BTFD conditioning wont be undone with our most recent bias.

  • StockTalker

    Just scarring the children right now, very close though.

  • HD

    Agree. Everything should be a scalp now.

  • StockTalker

    /YM 25k should hold for now. Loose that and market in big trouble.

  • Mark Shinnick

    …or a better place to reenter short.

  • HD

    Where’s the 50 DMA etc all the old school stuff?

  • https://evilspeculator.com Sir Mole III

    How’s my crew!!??

  • Julie

    Great Chief Thanks for everything
    JULIE

  • StockTalker

    Market does not go straight down, especially this one. Would expect a recovery rally or quite possibly a retest. Key is not to let your emotions get the better of it.

  • Tomcat

    I think we have to show BL a little more respect and not point to the obvious. He has been through more bear/bull markets than all (most) of us combined. Especially judging by the nature of comments.

  • Mark Shinnick

    the bear is awake….and just how hungry?

  • https://evilspeculator.com Sir Mole III

    Check my twitter feed. I just featured several posts over the past few weeks in which I warned everyone what was coming. Of course everyone is now too busy taking it up the ass – LOL :-))

  • https://evilspeculator.com Sir Mole III

    VERY hungry. But you know how it goes when you’ve been starved for a long time. Poco a poco πŸ˜‰

  • HD

    Ha. True. We should have been sellers BTC instead of finding buy spots.

    Nice calls BtW!

  • https://evilspeculator.com Sir Mole III

    Sell offs and especially bear markets always come with quick/violent snap backs. If you’re nimble play along, otherwise watch out below.

  • BobbyLow

    That’s for sure.

  • StockTalker

    It’s not obvious, a trader must use support and resistance. What do you mean?

  • HD

    SPX 50 DMA is 2717.
    10 handle rally.
    Walking away green
    3:4 today

  • BobbyLow

    What’s this must use shit? Some people are succesful using support and resistance and I respect that. But others follow short and long term trends, do not use “perceived” support and resistance levels and are just as successful.

  • BobbyLow

    Emotions don’t have anything to do with what I said. Personally, I don’t give a rats ass what the equity indices do because I don’t trade them. πŸ™‚

  • ridingwaves

    easy part is done, tough slogging to begin…were just 4 points away from being even for the year….

  • BobbyLow

    Doing fine Boss. Account is green for the day at this point in time so no complaints. πŸ™‚

  • Julie

    Chief Bear market rallies can be very powerful and V shaped bottoms
    JULIE

  • StockTalker

    No reason to get cocky about it. You asked

  • ridingwaves

    XLE bounced off 100sma…XLF still ripe for 28ish

  • Julie
  • http://gerb-reloaded.blogspot.com/ Gold_Gerb
  • Mark Shinnick

    Crypto Victim Report LMAO

  • https://evilspeculator.com Sir Mole III

    Guys – check my twitter feed!

  • http://gerb-reloaded.blogspot.com/ Gold_Gerb

    switch to the 110, I’m curious..

  • https://evilspeculator.com Sir Mole III

    Hehehe πŸ™‚

  • Julie

    OK GG
    JULIE

  • https://evilspeculator.com Sir Mole III
  • http://gerb-reloaded.blogspot.com/ Gold_Gerb
  • Julie

    GG The 110 ema is bottom of cloud
    JULIE

  • http://gerb-reloaded.blogspot.com/ Gold_Gerb

    Evilspec, ‘THE port’ in the storm.

    https://www.youtube.com/watch?v=JsxavPANO8s

  • daverg

    only white trash morons tattoo
    them selves all over their body, no real person with integrity and self worth would do so, sans navy military personnel, and they don’t do the trash all over your body BS

  • https://evilspeculator.com Sir Mole III

    I dedicate this song to all those crypto #HODL monkeys who held their positions for β€˜philosophical reasons’

    https://www.youtube.com/watch?v=h4UqMyldS7Q

  • https://evilspeculator.com Sir Mole III

    More like the storm in the teacup but I appreciate the good karma πŸ˜‰

  • Julie

    Love this action Exciting ! GDX bust https://uploads.disquscdn.com/images/ff6d4d7833c8c92f4274d99cf345f28d7702430d12cc2946106382bc9307bb18.png s down thru it’s 233 ema and upper cloud boundary Gonna watch it at lower cloud boundary JULIE

  • https://evilspeculator.com Sir Mole III

    Come on you bastards – let’s make this SPARTA!!

  • HD

    Classic. They bot the 50DMA and sold that pivot again.
    I have 2713 on a weekly but support is an illusion may be the theme.

  • http://gerb-reloaded.blogspot.com/ Gold_Gerb

    I feel a Mole video coming on…

  • http://gerb-reloaded.blogspot.com/ Gold_Gerb
  • Julie

    Lol ! GG
    JULIE

  • http://gerb-reloaded.blogspot.com/ Gold_Gerb
  • ridingwaves

    XIV hourly candle from 12-1-17, were there

  • HD

    Amazingly the VIX cult is very quite at 25

  • Julie

    USO LOD 12.74 and a slight bounce I mentioned 12.76 in a post below.

  • BobbyLow

    Not cocky at all. I asked the first question as general banter and qualified it with the exception of quick trades. The statement that I recoiled at was “a trader must use support and resistance”. I do not believe this to be true. It’s appears that it works for you and that you’ve been doing great. It also works for others as well. There are people here using all kinds of different things that work for them. I guess it depends on what fits into an individual’s game plan.

    BTW, when I saw the /YM tank on Friday, I thought of you and that you were kicking ass. That was a great trade.

  • http://gerb-reloaded.blogspot.com/ Gold_Gerb

    my GDX’s bleeding 16 cents, but my DUST is up 32 cents.

  • Julie

    For all those late Johnny Come Latelys Gotta Get In Ma and Pa Welcome to the world of a developing Impulse Down ! JULIE

  • http://gerb-reloaded.blogspot.com/ Gold_Gerb

    they don’t know what you are talking about. Impulse is when Pa grabs the Viagra on a Saturday night.

  • ridingwaves

    Didn;t think it was going to be in a week but….

    ridingwaves Mark Shinnick 5 days ago
    one of my long term lens views has XIV hitting 80 in next 4 months…

    Edit View in discussion
    ridingwaves
    ridingwaves Gold_Gerb 5 days ago
    130 is solid wall, tried earlier and got bushwhacked….seeing a trend change starting to take place on VIX.. some big opportunities coming for going L

  • http://gerb-reloaded.blogspot.com/ Gold_Gerb
  • Mark Shinnick

    Margin selling?

  • Julie

    SPX slices down thru the 55 ema Next watching the 89 ema and lower cloud JULIE https://uploads.disquscdn.com/images/2f590731a44ffb290604b69be3aee527d012808b83f463e70f6934cdf026aca2.png

  • Julie

    Mark Yup !
    JULIE

  • Yoda

    Yes, we now have fear.
    I am looking at a potential bounce target at SPX 2686.
    Waiting for the positive divergence on the zero first

  • http://gerb-reloaded.blogspot.com/ Gold_Gerb

    I’m not an expert, but I’ll try to help..
    https://www.hkex.com.hk/-/media/HKEX-Market/Services/Clearing/OTC-Clear/Risk-Management/Variation-Margin-,-a-,-Margin-Call/Collateral(Eng).png?la=en&hash=1AD9F9436B14A69218AFCF04608F6577AA73E2D7

  • http://gerb-reloaded.blogspot.com/ Gold_Gerb
  • Julie

    Well Yeah SPY slicing down thru a Volume Hole. Now some volume 89 ema and lower cloud
    JULIE https://uploads.disquscdn.com/images/9e89c9afc73cb64f44ed1a82d1020c1cbec3001f009540902feba24817fc7d06.png

  • Mark Shinnick

    Big help reminder πŸ™‚

  • ridingwaves

    about to try XIV

  • Julie

    Yoda IMO Also look for positive divergences on the 60 min chart. IMO not till then
    JULIE

  • Mark Shinnick

    A whole lot of participants wont get their calls until tomorrow at this rate.

  • http://gerb-reloaded.blogspot.com/ Gold_Gerb

    dare I say it?? “you’ve got a shot”
    RSI ~20 on the daily. May the Force be with You.
    πŸ˜‰

    https://uploads.disquscdn.com/images/7ed103d11500ab4195ac1431d22fc57683e372017a0ebeb633f6a5cbd5c2a6ef.png

  • Mark Shinnick

    Like the board headed right for your head….ballsy.

  • Yoda

    Waiting patiently for a positive divergence on zero…

  • kim
  • Yoda

    agreed

  • Julie

    RW XIV could be a nice shot here Coming down to weekly 55 ema and a support. The high today 118 and the Ichi Cloud baseline (21) at 118.21 i.e. the morning bounce just shy XIV weekly chart JULIE

  • Julie
  • Yoda

    Ms Market is pissed that Pats lost the SB

  • Mark Shinnick

    He may be the only one here who could get away from it, id yank out of the way if I could.

  • Julie

    RW miss type weekly 55 ema not 21 ema JULIE

  • Yoda

    Some big 5 min candles on the DX right now

  • BobbyLow

    Holy impulse down Batman! 1,000 Points down on the DOW. I don’t have a position in it but this is facinating. BTC with a 6,000 Handle is amazing too.

    I was reluctant go short the energy sector this morning because it was a little late to the party but I’m glad I did. I also remembered something Jesse Livermore said many decades ago.
    “Prices are never too high to begin buying or too low to begin selling.”

  • Yoda

    Miners are bid

  • Ronebadger

    Trend Day?

  • HD

    Effing crash! Unreal

  • BobbyLow

    1500 Points now!

  • Mark Shinnick

    Very satisfying.

  • Yoda

    WTF!!! -10 on 5min zero

  • BobbyLow

    LOL

  • http://gerb-reloaded.blogspot.com/ Gold_Gerb

    INCONCEIVABLE!

  • HD

    Hope nobody got hurt. I walked away at 2727 and am wishing I was in but this is carnage

  • http://gerb-reloaded.blogspot.com/ Gold_Gerb

    holding my nose, a small entry position into VZ.

  • Julie

    HD Is wave 3 down gonna be 8.236 X wave 1 ? ? WOW ! Exciting !
    JULIE

  • BobbyLow

    Sorry but I have to ask, if a “prominent politician” takes credit for a rally does he get to take blame for a crash too?

  • Tomcat

    NO, because it is not CREDIT πŸ˜‰

  • BobbyLow

    You did great. Take the money and run!

  • Mark Shinnick

    Keep it frosty.

  • http://gerb-reloaded.blogspot.com/ Gold_Gerb
  • Tomcat

    what is next, a close above the 50 MA?

  • http://gerb-reloaded.blogspot.com/ Gold_Gerb

    nope. blame it on the Blue Moon.

  • Mark Shinnick

    What about those who wont get their call until tomorrow?

  • http://gerb-reloaded.blogspot.com/ Gold_Gerb

    no regrets.
    make the plan, trade the plan.

  • Yoda

    We got one exhaustion move down with a quick reversal. Now it’s time to pay attention to a lower low with a positive div. on zero.

  • http://gerb-reloaded.blogspot.com/ Gold_Gerb

    talk to me Goose.
    40 minutes remain..

  • Tomcat

    Margin calls?

  • Mark Shinnick

    Welcome to the bear market.

  • ridingwaves

    got in at 95.50…

  • http://gerb-reloaded.blogspot.com/ Gold_Gerb

    you know…Margin.
    the stuff that crashed the 1929 Market.
    πŸ˜‰

    https://www.fidelity.com/trading/faqs-margin

  • Tomcat

    This is not a bear market…yet. One step at a time.

  • Yoda

    Not really

  • Julie

    SPX The bounce bottom off the bottom of https://uploads.disquscdn.com/images/8f71b6cbb92ea9daee00e312c0f3ea2465a271e086a3d418b965688d48b85dff.png my Ichi Cloud parameters 8,21,55 Love My Cloud as much as I love my husband. Maybe more LOL ! JULIE

  • HD

    Ask Mole. He called 3 of 3 down. One of the most epic EW calls I have seen! Ha πŸ™‚

  • http://gerb-reloaded.blogspot.com/ Gold_Gerb

    ok. it’s a correction .. for now.
    but if Mole posts a BEAR, well – I’m not taking chances!!!

    https://www.investopedia.com/terms/b/bearmarket.asp

  • Tomcat

    BL, what is very interesting is how GC and CL have held despite the carnage in ES. The former confirms to me that Gold below 1350 is to be shorted.

  • http://gerb-reloaded.blogspot.com/ Gold_Gerb

    on a pure dollar gold ratio….
    gold is on the cliff. I await the dollar, toe hold.

    http://stockcharts.com/h-sc/ui?s=GLD%3AUUP&p=D&yr=1&mn=6&dy=0&id=p52933840024

  • Mark Shinnick

    You might say its really a psychological tipping point, marking a time when money and confidence is no longer entering the market. From a strictly price POV, still a overbot correction, to be sure.

  • Mary

    check out those 30 minute candles on the 4 indices …

  • http://gerb-reloaded.blogspot.com/ Gold_Gerb

    Mary!
    you’re alive. did you survive the crypto carnage??

  • http://gerb-reloaded.blogspot.com/ Gold_Gerb

    237 comments….dam, it’s going to be close.

  • Mary

    I didn’t trade any crypto. I made a comment about Mole buying BTC and it was misunderstood that I did.

    I was long XIV last week but got stopped out.

    I’m doing fine … being patient ….

  • BobbyLow

    I’m trading a faster time frame and just opened a long position via UGLD. We’re on opposite sides and I’m probably wrong. πŸ™‚

  • Tomcat

    Ohhh BL, you gotta stop doing this to me… πŸ˜‰

  • HD

    That was one huge fat fucking finger today

  • http://gerb-reloaded.blogspot.com/ Gold_Gerb

    I’m holding UGLD & DUST.
    I’m so messed up.

  • Mark Shinnick

    Whew. Fin right over you.

  • Yoda

    In Wave term, I think we just witnessed the end of a 3rd wave

  • https://evilspeculator.com Sir Mole III

    Case in point: Snap backs after extended sell offs are the most violent:

    https://uploads.disquscdn.com/images/fa507e9a0339e7da53c3b28005580986f451140939360aaabed949da79592a4c.png

  • Julie

    HD SPX not getting above it’s 60 min 8 ema possible down for more. Must get above the 60 min 8 ema
    JULIE

  • Julie

    Chief SPX must get above it’s 60 min 8 ema and now a failure there
    JULIE

  • https://evilspeculator.com Sir Mole III

    Oh damn it – and I thought we could go one day without wave wanking.

  • BobbyLow

    LOL I’ve got a tight stop and do not have a lot of faith in this trade so you’re probably safe. πŸ™‚

  • http://gerb-reloaded.blogspot.com/ Gold_Gerb

    HYG printing press at support IMHO.
    stay tuned!

    http://stockcharts.com/h-sc/ui?s=HYG&p=D&yr=1&mn=0&dy=0&id=p26165655637

  • BobbyLow

    Nothing wrong with being hedged in this case. That’s probably a good move.

  • Mark Shinnick

    No, seriously broaden the viewpoint into the 35+ year situation.

  • http://gerb-reloaded.blogspot.com/ Gold_Gerb

    et TU Yoda?
    come on man..

  • Yoda

    Sorry

  • HD

    VIX doubles. 35+

  • BobbyLow

    Nope. What I’ve seen and heard over the past 13 months speaks so loudly that it destorts reality to the point of being unrecognizable.

  • http://gerb-reloaded.blogspot.com/ Gold_Gerb

    son of a..

  • Mark Shinnick

    I got it.

  • http://gerb-reloaded.blogspot.com/ Gold_Gerb

    like JULIE has been saying. all according to plans and no
    Cougaritis. (neither is a full position)

  • http://gerb-reloaded.blogspot.com/ Gold_Gerb

    TIME CHECK
    snap out of your dopamine-d minds!!!

  • Mark Shinnick

    Ive got some xiv objectives met here.

  • Mark Shinnick

    Rotted floor there too….but a shot 93.77

  • Tomcat

    We have a “positive” divergence here…

  • Julie

    GDX the bounce off the lower cloud. Will buy some on the 60 min with a 60 min candle closing above the daily cloud. Will watch at the daily 5 ema.and a https://uploads.disquscdn.com/images/6b56d111543efe90ebebe66abb6f76e7c5f6ed53411df4b693f12ee58150e859.png close above will add Goal is to short a lower high on a bounce JULIE

  • Yoda

    not on zero

  • Tomcat

    Sorry, was just messing around…to see if everyone had the eye on the ball

  • http://gerb-reloaded.blogspot.com/ Gold_Gerb
  • Tomcat

    What a fckin close…WOW

  • Yoda

    We have one now but it came after the close

  • Tomcat

    -113.18 today. Largest point loss in history. WOW

  • http://gerb-reloaded.blogspot.com/ Gold_Gerb
  • BobbyLow

    That’s one of the reasons I bought UGLD this afternoon plus it was picking up a little MOMO on my 30 Minute. But at the close it’s looking marginal at best. We’ll see what tomorrow looks like.

  • http://gerb-reloaded.blogspot.com/ Gold_Gerb

    Life moves pretty FAST…..

    https://www.youtube.com/watch?v=jDfbWDLNjjE

  • ridingwaves

    I like my XIV position….think the bounce will be strong after some whipsaw in AM…

  • Mark Shinnick

    Nioe hanging with you all today.

  • HD
  • http://gerb-reloaded.blogspot.com/ Gold_Gerb

    watch’ed it live, freaked me out. I though Iran was getting nuked.

  • Mary

    futures still selling – /ES 2620

  • Julie

    TC SPX a small bounce exactly off the bottom of the cloud. Tomorrow a close below the cloud will be bearish JULIE https://uploads.disquscdn.com/images/f0d79c32ca07707b963d64216acff0bf994075d6f5ff17f284f76abdd46907dc.png

  • HD

    Was today worse?

  • http://gerb-reloaded.blogspot.com/ Gold_Gerb

    I’d have to look up the %-change.

  • HD

    Homework tonight. WTF are they pricing in?

  • http://gerb-reloaded.blogspot.com/ Gold_Gerb

    Mole, this should increase your readership.

    get out there and recruit some newbs.

  • Mary

    media will talk points to the masses, not percentages …

  • Mary

    closed at 2607

  • Julie

    SPX 30 and 10 min charts a possible consolidation developing retracing approx. 30% of 2835 – 2638.This consolidation if continues will be a harbinger of more decline
    JULIE

  • http://gerb-reloaded.blogspot.com/ Gold_Gerb

    I would say Scott’s weekend BTC phalic prediction, nailed it.
    LOL.

  • Tomcat

    BL, were you looking for Credit…check the second tweet: πŸ˜‰
    https://twitter.com/RealDonaldTrFan?ref_src=twsrc%5egoogle%7ctwcamp%5eserp%7ctwgr%5eauthor

  • http://gerb-reloaded.blogspot.com/ Gold_Gerb

    I KNOW, sell that fear. doom porn.
    I can only IMAGINE bear sites are slathering.
    Tim Knight alert. alert!

  • BobbyLow

    Not in percentage terms. But in comparison, I’m Green today. During the Flash Crash I was long and had my ass handed to me. The funny thing is that I didn’t have much of a game plan back then and if I was using the same system that I’m using now, I would have went short a day or two before the flash crash and have been “the windshield and not the bug”. πŸ™‚

  • BobbyLow

    Come to think of it his description was perfect. πŸ™‚

  • http://gerb-reloaded.blogspot.com/ Gold_Gerb

    290 comments.
    we came up ‘short’.
    LOL.

  • Mary

    291

  • Julie

    GG Shorted USO at the close Initial target 12.34 No trade BAC No cougaritis and want a lower high
    JULIE.

  • Mark Shinnick

    Yeah..really caught the “mood” swing πŸ™‚

  • kim

    crypto “cheap” and fiat falling, anyone?

  • kim

    awesome pic, try post it to some bitcoin hodlers forum, they will eat you alive πŸ˜€

  • HD

    Biggest point drop ever. POTUS loves records.

  • HD

    So BTC low is 666 (1+5) 6615

  • https://evilspeculator.com Sir Mole III

    We’re here, Kim πŸ˜‰ And we’ve been watching with interest. Thus far buying no still is a bit of a crap shoot but exploratory lottery tickets are permissible. However be warned that this formation does not look complete yet.

    https://uploads.disquscdn.com/images/d54653c279c7fe4c34736587eded472c9d614eb91713d6eee0ab6099efa71d41.png

  • BobbyLow

    If I said what I really wanted to say how I feel about what he says and does, it would call for so many expletives that I probably would get banned from here. He’s not worth it. πŸ™

  • Julie

    HD SPX You being a waver a wave 4 must appear on the daily chart as did wave 2
    JULIE

  • BobbyLow

    Yep it’s the biggest and best ever. πŸ™‚

  • BobbyLow

    Reminds me of the Gold Bugs when Gold was pushing $2,000 in what seems like a lifetime ago.

  • bravenewworld2011

    What’s up with XIV after hours?

  • https://evilspeculator.com Sir Mole III
  • https://evilspeculator.com Sir Mole III
  • https://evilspeculator.com Sir Mole III

    Show me.

  • https://evilspeculator.com Sir Mole III

    https://uploads.disquscdn.com/images/30d18bb78653e1f8409ccf750b0aab72b4b01dddc1034ab25e21e49d3c01b5bc.png

    I show you mine… looks like it took more than the recommended dose.

  • Floyd

    Yea…down 57% after hours?!!!

  • Mark Shinnick

    You ok?

  • ridingwaves

    I jumped in at 44 after stop hit earlier at 93….

  • ridingwaves

    I’m good, stopped out at 93, just got back in at 44….

  • ridingwaves

    trying to close gap from Election day from looks of it…

  • Mark Shinnick

    Whew..

  • https://evilspeculator.com Sir Mole III

    Careful guys – some of these ETFs may be wiped out today. SVXY is trading at 36 – opened near 100.

    https://uploads.disquscdn.com/images/1a65bbe9d3b1c3142cb8b2e5a831bb4a61912e6f0183b8784053789ba893a61b.png

  • kim

    i was thinking more general, what if? possible scenario at the moment

  • Yoda

    Wow!!! If it works out, drinks on you for the rest of the year. πŸ˜‰

  • Mark Shinnick

    Maybe 33.14

  • Yoda

    it says 35 now

  • https://evilspeculator.com Sir Mole III

    Is anyone seeing my comments? Alright, I’m packing it up for today… sheesh..

  • https://evilspeculator.com Sir Mole III

    Here we go… now we got wave wanking and DJT bashing on the same day. i need a raise…

  • https://evilspeculator.com Sir Mole III

    Please is mutual.

  • Mark Shinnick

    Hungry bear …pretty much nailed it man, as good as it gets πŸ™‚

  • http://gerb-reloaded.blogspot.com/ Gold_Gerb

    Sparta achievement. We die another day.

  • BobbyLow

    Here’s another anecdote regarding our “2%” inflation target. I assume food and energy are not in this equation. I just received a 6 month bill for my auto insurance and had yet another 4% Increase. My premium includes all discounts including safe driver, old fuck discount , and numerous other discounts, yet I still got a 4% increase on top of a similar increase on last bill and the bill before that. I wonder what actually is in the government’s calculation?

  • ridingwaves

    my 80 XIV prediction last week was blown by….but I was definitely closest to right number….

  • http://gerb-reloaded.blogspot.com/ Gold_Gerb

    doesn’t matter. the bill is printed and processed in dollars.
    worthless, and worth less every day.

    http://2.bp.blogspot.com/-w6pHKjcrViE/T0Kd1t0P9MI/AAAAAAAABQ4/2zk0xrZl6AY/s1600/Purchasing%2BPower%2B-%2BLog.jpg

  • ridingwaves

    34.75 closes it

  • bravenewworld2011

    Just referring to the $62 prices I seen a moment ago. After seeing VXV:VIX at panic lows and VIX pushing almost 40 and front month $21 and second month $18 I backed up the truck. The risk vs reward was there for this sort mean-reverting metric. But when I see the afterhours I hope they didn’t break the the ETN and Credit Suuisse is liquidating the fund. That would be a historic fucking, and my first major one.

  • Mark Shinnick

    pretty SH you can swim out from some of that. All I really wanted out of this event was come comfortable positioning, so pretty happy with that set-and-forget thing.

  • bravenewworld2011

    You think the exchanges might reverse that sort of swing on you?

  • http://gerb-reloaded.blogspot.com/ Gold_Gerb

    game tokens might have more value soon.

    FYI
    https://www.snopes.com/chuck-e-cheese-bitcoin/

  • https://evilspeculator.com Sir Mole III

    This is for all the #HODL monkeys who wiped out their accounts today for ‘philosophical’ reasons.

    https://www.youtube.com/watch?v=QRJ38y4Jn6k

  • Yoda

    zoz zermans, never happy

  • HD

    ha. how is that bashing? It’s factual

  • BobbyLow

    But perhaps we can get a good deal on some BitCoin and have enough buying power to buy some “Real” Chuckie Cheese Pizzas. πŸ™‚

  • https://evilspeculator.com Sir Mole III

    I don’t think I qualify anymore as I haven’t set foot on Kraut terrain since 1991. Not planning on it either. USA! USA! πŸ˜‰

  • ridingwaves

    bought second half at 35….

    I’m good, long term play….much better than buying at 130…

    gap closed…..thanks panic people…

  • https://evilspeculator.com Sir Mole III

    I used advanced algorithms and arrived at 95ish.

  • http://gerb-reloaded.blogspot.com/ Gold_Gerb

    I detect a career change in JSNIP4’s Youtube ‘career’.

    and a disclaimer, if BTC is going to $64K, I’ll know when to get in.

  • BobbyLow

    It sure is.

  • http://gerb-reloaded.blogspot.com/ Gold_Gerb

    yes, that’s how it all started right? some guy buying pizza with BTC.

  • ridingwaves

    this is so sweet….I just bought XIV at pre-Trump levels….can’t imagine the folks at 140….

  • CandleStickEmUpper

    What a day for scalping NQ’s. I have been waiting for a day like this for the last 8 years. I hope it continues through the week as volatility is back. For now.

  • BobbyLow

    Seppuku is done for “philosophical” reasons too. πŸ™‚

  • https://evilspeculator.com Sir Mole III
  • bravenewworld2011

    I’d like to share your optimism given how much I bought today…but a VIX wipeout forcing Credit Suisse to close the fund has been a hypothetical talked about a lot recently. Usually the scenario was based around a same day spike, so I assumed the last 2 weeks was trying relieve some of that pressure. But when I see it cut in half after hours I hope to hell the fund didn’t just break.

  • http://gerb-reloaded.blogspot.com/ Gold_Gerb
  • Wave_surfer

    the power of compounding over many years.
    Going from $100 to $3.48 is just losing LESS than 3% per year for 110 years.

  • ridingwaves

    I here ya….I might be stopped out here but just a 1/2R in the trade, seems to be good to be true, so your rumors could be smelling something out

  • Mark Shinnick

    Got some too at 30. Its a hedge.

  • http://gerb-reloaded.blogspot.com/ Gold_Gerb
  • bravenewworld2011

    If you’re referring to your SVXY post it just this minute showed up in my feed.

  • HD

    XIV is just an ETN – not etf. the note can fail

  • http://gerb-reloaded.blogspot.com/ Gold_Gerb

    oh sh!t.

    sort them out boyz.

    http://www.macroption.com/vix-etf-etn-list/

  • https://evilspeculator.com Sir Mole III

    SVXY may be fucked.

  • ridingwaves

    stopped out -1R

  • HD

    basically unsecured debt. TVIX was one from a few years ago. Maybe intraday but exposure ON after a day like today takes some balls.

  • HD

    they are all terrible products IMO.

  • http://gerb-reloaded.blogspot.com/ Gold_Gerb

    I believe the term was ‘for pikers’.

  • http://gerb-reloaded.blogspot.com/ Gold_Gerb

    Ford weekly.
    Maybe it’s a leading indicator. LOL.
    at least I wasn’t a bag holder.

    http://stockcharts.com/h-sc/ui?s=F&p=W&yr=3&mn=9&dy=0&id=p23979863118

  • https://evilspeculator.com Sir Mole III

    Hey guys – I got to turn in – been a long day. But what a DAY!!! Tomorrow we sort through the potential victims πŸ™‚

  • Mark Shinnick

    Ok, bot 90% of the hedge at 18.85.

  • http://gerb-reloaded.blogspot.com/ Gold_Gerb

    I’ve got another six hours. sleep tight.

  • ridingwaves

    sweet buy, to think 5 days ago we were debating 130 top….
    as long as market doesn’t open way down, I think the fund survives…

  • Mark Shinnick

    I’m using Schwabs streetsmart pro, the most worthless POS platform. Dumb fuk thing is showing a 424% return on that because its comparing the normal close price. I’ve been on them for years about their software. Yeah I guess there’s doubt about the ETN. Its one of those creatures of all the recent years’ insanity, after all.

  • BKXtoZERO

    wow… I think XIV is gone…. down more than 80% = termination event for fund. See if it ends with all those bag losing 80%-90% tomorrow.

  • http://gerb-reloaded.blogspot.com/ Gold_Gerb

    BK!
    yes, at least according to the Japanese document.

  • Julie

    GG INTC watching 43.35 which is the 89 ema ; lower keltner channel and lower cloud boundary. All we can do is identify support levels and see if they hold
    JULIE

  • http://gerb-reloaded.blogspot.com/ Gold_Gerb

    I would venture a guess the options are just too damned expensive now.
    long and short!

    part of the calculation – implied volatility is whacked, yes?

    https://www.investopedia.com/university/options-pricing/black-scholes-model.asp

  • ridingwaves

    after hours is total carnage sp 2562

  • http://gerb-reloaded.blogspot.com/ Gold_Gerb
  • http://gerb-reloaded.blogspot.com/ Gold_Gerb

    BK and yudhi…more old timers appearing..

  • ridingwaves

    I’m fine but could have made a ton of cash by sitting in TVIX instead of selling early..

  • http://gerb-reloaded.blogspot.com/ Gold_Gerb

    yeah, I glanced at TVIX near close.
    unfreaking believable. like a 9 sigma kind of event!

    EDIT:
    http://stockcharts.com/h-sc/ui?s=TVIX&p=D&yr=3&mn=0&dy=0&id=p82465895000

  • http://gerb-reloaded.blogspot.com/ Gold_Gerb

    thanks for the warning.
    just got thrown into Schwabs after they bought up OptionsXpress.
    I’ll stick with TOS POS.
    πŸ˜‰

  • Mary

    I just read a report that XIV has been terminated. Can anyone confirm or is it a bogus report?

  • http://gerb-reloaded.blogspot.com/ Gold_Gerb
  • http://gerb-reloaded.blogspot.com/ Gold_Gerb
  • Mary
  • BobbyLow

    It’s 10:04 PM in the Eastern Time Zone and Dow Futures are down 565 ES down 45 and NQ another Down 85 Points in A/H. /BTC down to 6,386

    A lot can change between now and the market open but this has been a pretty big move. . .

  • Mary

    front month VIX futures are down about 10% after hours. It looks like XIV closed after hours at 15.43 after trading in the mid 90s this afternoon. I’ve read a few places that it has now been terminated … unconfirmed.

  • BobbyLow

    Wow! I’m always amazed at days like this.

  • Mary
  • BobbyLow

    Oh, oh. I hate to give up leverage but I’m going give some thought to switching over to GLD ETF from UGLD ETN on my next Gold trade. Another thing is that GLD is now trading around the clock like futures on TOS. I’m using ETF’s for energy so they should be OK. The structure of ETN’s are starting to make me a little concerned.

  • Mary

    I wonder how many pension funds are holding XIV …. could be a disaster of epic proportions.

  • BobbyLow

    With the amount of daily volume in these things there’s probably some.

    It’s been a long day and my brain is turning into mush about now so we’ll see what happens tomorrow.

    Have a good night Mary. πŸ™‚

  • Mary

    Good night Bobby

  • Ian Naugler
  • Ian Naugler

    Looks like Credit Suisse is going to eat 6 months profit minimum…

  • Wave_surfer

    me too

  • Yoda

    Nevermind

  • ridingwaves

    spx, will the 200sma hold at 2531

  • Julie

    We must be careful here SPX down to a lower rising trend line. Daily chart SPX a bounce off the lower Ichi Cloud matching the lower trend line. Just below is the weekly 34 ema and a support. An earlier post I mentioned a possible consolidation developing on the 30 min and 10 min charts retracing approx. 30% from 2835 — 2638. Lets watch for a possible consolidation then another leg down is possible You will see the minor bounce off the daily lower cloud Shown are weekly and daily charts JULIE https://uploads.disquscdn.com/images/7cbf9ff4eb1613ebbb718ecf9bc580f99c279401d54a83200c107565f6aff092.png https://uploads.disquscdn.com/images/c0aa003c48c27a57be144b90e9daae55f34b722dd405771ca0cbd77565bb45ce.png ttps://uploads.disquscdn.com/images/c0aa003c48c27a57be144b90e9daae55f34b722dd405771ca0cbd77565bb45ce.png

  • Julie

    RW SPX the weekly 55 ema at 2513 and daily 233 ema at 2527
    JULIE

  • Ivan Hrusovsky
  • Ivan Hrusovsky
  • Yoda
  • Julie

    Hi Yoda you are still up like me What a situation. We knew it was coming
    JULIE

  • Julie

    I love my Ichi Cloud CAT bouncing off the lower co https://uploads.disquscdn.com/images/19556a3d8e054d343d5ca6c9b8b43bcc4fd87f3d7e980e600192a4b24a6ee68e.png lud boundary JULIE

  • Wave_surfer

    Interesting. Everything reversed directions a couple minutes before mid-night Eastern Time. We will see if it is more than a few hours of bouncing.

  • Julie

    Are we going to wake up to the Plunge Protection Team smiling ?
    JULIE

  • Yoda

    Yes, a correction was due. I was not expecting it to be so strong in such a short time.

  • BobbyLow

    It began about 20 Minutes ago and it looks like the answer will be yes. . .

  • Tomcat

    So all those short volatility were wiped out?

  • HD

    Globex range 2529-2644 NOT A TYPO

  • BobbyLow

    Could be.

    Down below there’s a good article about it posted by Ian Naugler

  • http://gerb-reloaded.blogspot.com/ Gold_Gerb

    nothing like some sleep on good dope-amine.

    https://www.youtube.com/watch?v=U5TqIdff_DQ

  • Tomcat

    Seemed like MS and RW were trading it yesterday, so would be interesting what they report

  • http://gerb-reloaded.blogspot.com/ Gold_Gerb

    Ivan!
    another old timer.
    they’re coming out of the wood work!!

  • BobbyLow

    Yep let’s see what they say about it.

  • BobbyLow

    I’ll tell you one thing and that is I don’t know how anyone could trade futures over the past hour or so. They’ve been moving all over the place at blinding speed.

  • nyse

    Cool I remember these Ts

  • http://gerb-reloaded.blogspot.com/ Gold_Gerb

    do you think we get one of those circuit breaker warnings?
    (throttling..)

  • HD

    I’m taking a small and quick approach. 2 mini’s and 5 min max

  • BobbyLow

    I don’t know but prices were flying faster than a gas pump on steroids.

  • BobbyLow

    Wow you must have nerves of steel. πŸ™‚

  • BobbyLow

    PPT alert!

  • http://gerb-reloaded.blogspot.com/ Gold_Gerb
  • ridingwaves

    XIV is set to liquidate, I took 1R loss yesterday on move down…funny thing is they are not liquidating until the 21rst, thus you might see a move higher to ease pain of holders

  • HD

    that was a good 5 minutes

  • https://evilspeculator.com Sir Mole III
  • BobbyLow

    That’s why we have stops. Better to lose 1 R than be stuck in this thing relying on hopium.