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jimkane
Rep: 3,058
Posts: 33,089
Okay, I'll start it off. I can't say I'm really excited, like I usually do. Maybe that's just me, personally, and maybe it's these 2.75 point for four or five hour deals. I suspect, as I mentioned on Friday with that 'odd' late session pop, that this is going to gap up and do a 'gap and go'. This is substantiated by the 'news' that war is now put way off by the details that were hammered out over the weekend. They now have until like mid-2014 for the final compliance and inspections. Too funny, from an imminent strike to delayed almost a year. I wonder how they are going to get their needed war regardless... So, this 'should' be a large gap up, taking out the all-time high I would suspect tonight or no later than tomorrow. If it doesn't do that, that would be a clue to me.

BTW, India tested a missile today capable of carrying a nuke, with a range of about 3,000 miles, which puts Beijing and Europe in range. All this while Pakistan is adding nukes to its stockpile at a rapid pace, ready for 'tactical nuclear weapons strikes'. I'm sure the warmongers will find/start their war soon somewhere anyway. But, what to do about that gas pipeline issue with Syria... What to do... What a messed up world...
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jimkane
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I know this is a long shot (a million to one?), but it still is possible that that was the 'bull' market top. There are a zillion reasons why it isn't, but let me list the few why it may be.

1) The bulls are insanely giddy. It's beyond ridiculous. The blogs almost make me laugh, if I wasn't already crying.
2) Highest margin debt ever. The last two times it was this high was 2000 and 2007.
3) There is a 'modified' formation I have been studying here, and it says 'now'. The full formation said in Jan, but it may have morphed to not be so obvious.
4) Notice the 3 pushes now at this high? There isn't lower line symmetry, but it's close enough to a 3D formation to have the same effect.
5) Huge news events can mark the point where the opposite of what is expected happens.
6) Lots and lots of things coming up, especially the debt ceiling debate,
7) Historically weak month, September (although bottoms usually form after the weakness in this time period).
8) Bulls on the cover of Time and The Economist, with the titles 'How Wall Street Won' and 'Wall Street is Back'. Uh-oh.

So, it may still reach for one of those upper levels. It may still take until January. It may not ever stop until the entire planet collapses. But, just maybe, it's done. I'm keeping an eye on that as a possibility.
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jimkane
Rep: 3,058
Posts: 33,089
If this doesn't turn here at 13.50, and if it does intend to bounce soon, my best area is 9.25-11.75.
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jimkane
Rep: 3,058
Posts: 33,089
A nice little summary of the obvious.

http://www.zerohedge.com/node/479121
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jimkane
Rep: 3,058
Posts: 33,089
Wow, read the first comment for that last post. Someone else besides me that thinks 3 billion will perish when this all plays out. That one loses pretty much everyone I talk to, even the staunchest believers in what I am saying. At least there is one other person who understands what can happen in a globally interdependent world when the entire system collapses.

http://www.zerohedge.com/node/479121#comment-3974949
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jimkane
Rep: 3,058
Posts: 33,089
Watch the bearish ABCD here.
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jimkane
Rep: 3,058
Posts: 33,089
If they overcome that, my next area is 19.25-20.75.
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jimkane
Rep: 3,058
Posts: 33,089
4.0 point range for about 3 hours. Even when it seems to be moving, it's dead.
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jimkane
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rat89
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MarcinO
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jimkane
Rep: 3,058
Posts: 33,089
Okay, 'the public' is finally 'all in'. We are soooooooo close.

http://www.zerohedge.com/news/2013-09-20/btfath-here-2nd-largest-equity-inflows-2000-bubble-popped