1.1400-30 is a monster area, so we might see some correction here. Next strong level is around 1.18, comprising of two subareas around 1.1750 and 1.1850.
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MarcinO
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How this crap exploded is completely irrational, but it makes 1.20 plus scenario more realistic.
1.1400-30 is a monster area, so we might see some correction here. Next strong level is around 1.18, comprising of two subareas around 1.1750 and 1.1850.
1.1400-30 is a monster area, so we might see some correction here. Next strong level is around 1.18, comprising of two subareas around 1.1750 and 1.1850.
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MarcinO
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My next serious area is around 1.16.
But 1.1850 (upper subgrouping of a wide area around 1.18) tomorrow wouldn't surprise me at all.
But 1.1850 (upper subgrouping of a wide area around 1.18) tomorrow wouldn't surprise me at all.
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jimkane
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Understatement of the year, my brother.
Originally posted by MarcinO
...This market is crazy!
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jimkane
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I tried to post a fun Euro chart last night but couldn't (my issue, not the forum's). I will try again later from another comp.
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jimkane
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Here's a quote from one of Armstrong's posts from today. This additional harsh selling sure is telling, to me.
"So be on guard for we may be in a real Phase Transition in bonds and to accomplish that we may see really extreme levels in equities on the downside. This may not be 8000 points on the Dow as was the case from 2007 to 2009, but it could be 5000. If this week’s low gives way and we close August BELOW 15555, look out below. We need to wipe out the TV pundits.
We will update you on this development, but keep in mind that a break to new lows opens the pattern to the extreme."
Source: http://www.armstrongeconomics.com/archives/36526
"So be on guard for we may be in a real Phase Transition in bonds and to accomplish that we may see really extreme levels in equities on the downside. This may not be 8000 points on the Dow as was the case from 2007 to 2009, but it could be 5000. If this week’s low gives way and we close August BELOW 15555, look out below. We need to wipe out the TV pundits.
We will update you on this development, but keep in mind that a break to new lows opens the pattern to the extreme."
Source: http://www.armstrongeconomics.com/archives/36526
JI
jimkane
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Posts: 33,089
I will be watching, on the higher timeframes, this possible bullish 'W2' ABCD here to 'put in a bottom'. I would rather lean heavily on the short side relentlessly until the vicious bounce starts. But, this might be a 'retest', so be alert, in case.
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MarcinO
Rep: 67
Posts: 5,506
Originally posted by jimkane
Understatement of the year, my brother.
Originally posted by MarcinO
...This market is crazy!
