1- we broke above 2007 highs and the original May breakout with ease today
2- massive pomo from tonight all the way to Friday.
3- vix desperately trying hold up before collapsing
4- global metal rout. Metals getting hammered the worst they have in history and that money is finding a new home in stocks
5- GDP disaster today enforces that QE will continue past the earliest on the taper timeframe
6- weak volatile hands shaken from market over last week
7- sideline money starting to nibble
8- fuel bay loaded again with shorts
9- japanese/chinese/eurozone stock markets hammered to the point buying is very attractive which just happened to coincide with the US 3 day bear raid bottom.
10- margin use showing no sign of slowing down but rather increasing
11- the highs were not even tested once
12- most important. The chart clearly shows the beginning of Elliot Wave 5, the strongest and most powerful of them all.
Conclusion- new market highs could come in a matter of trading days. The move will be parabolic.
sounds like a failed hi,with a horrible looking bar there.
world financial system is cracking so you better get that alltime again soon because party is in the last hours,last call coming real soon
Some of what you've said is true, unfortunately TIMING is more important to traders than direction.... and your timing is very likely OFF... 10% correction has already been penciled in, and we've only had a 5%er so far... no parabolic move yet.
So, because stocks have fallen 5% they "must" fall another 5%? Thats ridiculous logic. Not a dam thing has changed. The fed had another of their several goof off meetings spoke and the market had a quick emotional outburst. Thats all you bears get and quite frankly it disgusts me. After all the smack talk I thought you bears would actually make a respectable fight out of it.