more of my indicators point to an upside breakout, but I can't help but feel it will be a false breakout
another down on Tuesday, but could recover by day's end (will wait and see)... in best case, I see it finishing the day at the 50dma... we will breakout of this volatile triangle one way or another, and if it is to the upside, it might be a quick euphoric top, still too early to say beyond tomorrow tho.
it is pretty obvious that nobody in his or her right mind would ever believe that this market is worth anything close to what it is trading for, and yet it keeps going up... of course, the imbeciles out there use the fact that it has gone up to magically mean the economy is great, or even half-way decent (it is not remotely close)... so the idea now is to just sucker in as much money as possible and blame the inevitable collapse on some geopolitical event out of the blue...
of course, there is still a lot of sucker money left out there, so they will wait for some "news" that fools will interpret as further signs of a healthy and strengthening economy--we are getting close to Last Bagholder Day.
For now, I continue to play both sides of this, and look for a fake upside breakout of this ascending triangle (have a few shorts left that I should be able to cover tomorrow for a profit)... then hedge for the massive correction the OP speaks of... if that doesn't correction doesn't materialize by May, it probably won't happen until October.
the open was 209.06, so I don't see that being broken... but I am looking for it to be under 209 by tomorrow, roughly 208.6 area.
kinda frustrating as I was looking to short, might've missed my chance... now looks like there will be one more leg up today after we bottom here.
no need to be greedy, the gap left from this morning will likely be filled tomorrow, and my short-term indicators show we are near overbought.. this gap fill is free money, but which way it breaks over the next few days I'm still undecided.
looks like a lot of shake and bake to me... market is setting up for an epic fall anytime starting between 4/23 and 5/18, but there will be lots of volatility and head-fakes leading up to it.
if our futures are down, then Monday will be all up... if our futures are somehow faked up, it is only positioning Monday for a bigger sell-off... that's all I can say based on my bull/bear market momentum indicators.
and if my aunt had balls she'd be my uncle... your starting premise does not need to be so ridiculous and fantastical in order to develop an argument against socialization... mathematics is, indeed, a creation not a discovery, but even if it is an inevitable creation, varying only in form not in underlying substance, it still does not prove that there is intelligent design at work.
while virtually 0% of the adult human population believes unicorns exist, the majority of the world in every country believes in God or some life force--hence, the concept of a unicorn is clearly less" believable" by definition of the word "believable"... it seems you are confused by the word "believable" vs the word "provable", as your little story only demonstrates that the concepts of God and unicorns are ONLY equally unprovable... if you tell me a story that I have absolutely no way of corroborating, then I can choose to believe you or not. Belief is still a choice in situations where direct evidence is not only lacking but inherently unobtainable.
In your little story there had you replaced the word "unicorn" with say "photon", for the majority of human history, then, photons should not be believed either (by your argument) because no evidence could be provided for their existence (until just the past few hundred years when the first experiments with lenses and light were performed)... lack of evidence for the existence of something does not mean it cannot exist. This is why science only deals with testable hypothesis,and why no legitimate science text will waste time talking about the existence of unicorns or God.
now, back to your story, let's suppose the year is 2100 and you went to a hi-tech genetics lab--odds are, you would find your precious unicorn alive and quite well-engineered.
copying and pasting a seekingalpha article without any reference or even credit to the original author? again, this guy pretends to know science, but if he had ever stepped near the discipline he'd be tossed on his ear for such plagiarism
most of them lost all their money years ago, and a few have likely been banned from every brokerage on the planet... if they actually traded, they wouldn't spend 99% of the day talking about subjects which they have no knowledge of pretending to be intelligent and important to compensate for the real fact that they lost all their money trading.
they did more than read her reports, they peaked at her x-ray data while they were snooping around in the lab. They basically stole her work! The OP is certainly a misogynist as he has no idea how many extremely bright and accomplished women there are out there... also, if you cannot appreciate the quality of intelligence in a female you're probably a closet rapist.
but it's been known for at least 3 years now that for Greece to avoid default was a mathematical impossibility, yet the market just hummed along.... sure, little Greece is at least as big as Lehman Brothers, but even that "Black Swan" event of '08 was total BS. The man behind the curtain knows exactly how he wants to steer the ship and what he wants his minions (financial media) to convey to the sheep (you and me) to keep them in line.
good job, I got very lucky today as my puts soared much higher than projected, but hey I will take it... in any case, I see Monday having limited downside... at least early on, a nice relief rally looks to be technically in play.. not sure how high it will go or if it will get faded.
I still see lots of upside potential on SPY between the 215 to 216 area. As you know my feeling on this massively manipulated fake market is pure disgust, but I am forced to play along to the upside when I see profit potential... does your analysis show strong upside potential as well, or are we finally setting up for that major correction now 6 years overdue?
certainly not the woman that gave birth to you, that's for sure.