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jimkane
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Posts: 33,089
Very dangerous spot here for the bulls, Watch the TL/price flow here.
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jimkane
Rep: 3,058
Posts: 33,089
This really does have the look of huge downside coming. I am so used to that being the setup for a trap, but some day it will mean exactly what it looks like, and although it seems hard to believe that day could be now, I always wonder...
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jimkane
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Posts: 33,089
I really don't think this area is going to hold. That steep of a sell off, and all it can bounce is a KZ, when the Fed gives 'em everything they want? Uh-oh. But, in reality, so it drops a bit, they'll just come in and run it right back up to new highs, over and over. Until it collapses, and we have chaos. Been my theory all along, and I'm more sure than ever now. Look at the comments here by Market Sniper, a guy who's opinion I generally respect.
http://slopeofhope.com/2013/10/the-start-of-something-bigger-2.html
http://slopeofhope.com/2013/10/the-start-of-something-bigger-2.html
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jimkane
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Posts: 33,089
Just waiting for it to give way... Any time now... Should be a nice flush. I am really anxious to see if that's a fake snap trap, or a backtest and really dump situation.
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jimkane
Rep: 3,058
Posts: 33,089
This thing can't get off the floor. "I've fallen, and I can't get up!"
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jimkane
Rep: 3,058
Posts: 33,089
I'm repeating myself, but it sure seems like if they don't come in here this would get killed. But, they hit the KZ hard three times and then it reversed, so maybe now with these three tries, up it goes. I can't see it, though...

