I'll start the new week off. I'm watching around 16.50 for the ES, there is a lot of stuff there. Like I said, it could push a bit higher, but there is a lot coming right up in here, and if that doesn't check it back a bit, that would indicate to me immense strength. I'm still looking at my higher timeframe scenario, with two areas. Let's say 1830-60, and around 2000. Both are technically solid areas, but I like the 2000 area better (although, admittedly, it would take a monster blow-off to achieve that) for several reasons, one of which is it would set up some harmonicities that would be remarkable.

I am still watching that possible new proprietary timing thing that has this rising until Oct-very early Nov, and then a final push into Jan. It would be amazing if it was destined for the 2000 area if it did that first time area pullback right off that 1800's area. I had said I would post something on the bear market and oil at perhaps $250 this weekend, and I may, or I may get to it 'later'. I'm just one person, and a person with limited energies, so I'll do the best I can...

A basic article with some cool charts. Note how the S&P didn't follow corporate profits in the dotbomb era. It goes to show how sometimes things correlate very well, and at other times they simply don't. Anyway, the key sentence from this article, to me, is this one:

"But the bull view should always be subject to the macro view because one day policy will not be there to support stocks if bond market supply/demand dynamics overwhelm the Fed’s interest rate manipulation schemes."

That surely is one of the possible market shock triggers I am considering that will set the bear off. If they lose control of bonds the last thing on their mind is going to be what the stock market is doing. They'll have a problem of infinitely greater significance to attend to. Just my opinion.

http://slopeofhope.com/2013/08/momentum-by-definition-it-is-hard-to-stop.html

nice chart rat!to those of us who use the technique of watching the index etf's as a group.... today's low was important...we shall see

i am sure all are aware of this... but i wonder if i should have taken it more seriously when i saw this... on monday, the day of all time high in SPX, THERE WAS NOT A SINGLE MOMENT WHEN BREADTH WAS POSITIVE...

wow

Originally posted by roofer

i am sure all are aware of this... but i wonder if i should have taken it more seriously when i saw this... on monday, the day of all time high in SPX, THERE WAS NOT A SINGLE MOMENT WHEN BREADTH WAS POSITIVE...

And pop goes the weasel. 92.25. What a surprise.

Here's my surprised look:

Here's my usual look:

So, I will watch this area closely, but I suspect:

1) it wants 1700 and a few ticks ASAP

2) 1700 plus a few ticks won't stop it, it wants that higher level, as I said before

94.50... 5.50 points away...

Yeah, roofer, things are setting up slowly but surely for the eventual bear market. Oh, how I wish it could start from here... But I think it will be from 1830-60 or more likely 2000 after a monster blow off.

yes! thank you roofer

gz in the red box

Originally posted by roofer

nice chart rat!to those of us who use the technique of watching the index etf's as a group.... today's low was important...we shall see

I'm sorry to bore with another chart of the same thing, but what they did here is just too funny