Starting it off.

Interesting if you like this type of big picture analysis. And if Armstrong gets his 'phase transition' and the Dow blasts over 40,000, then wow, what would the valuation look like? And if it does this as a flight to quality in a sovereign debt meltdown, likely corporate profits would be plummeting, hence the valuations would soar because of that. So, perhaps three times as overvalued as 2000? Four times that of 1929? I can see it happening. Then they'll need to break out the charts of the Dutch tulip mania, the South Seas bubble, and all those, which I think they should be doing right now instead of 2000, 1929, etc. Just my humble opinion.

http://www.zerohedge.com/news/2015-12-01/most-extreme-point-stock-market-overvaluation-history

Hey, I'm just looking for spx 2200 area if it can clear 2116

Okay, the layers above are obvious, the nearly flat (but slightly downsloping) SL, the swing-high there, the contract high, and then that old contract high at 34 (I'm not sure what that one means). I see no issues with any of those. Dragh-Queen will be yapping soon enough, and that should bring some action. I expect lots of potential games around each of these levels. If he disappoints, I think there is a tiny chance of some small selling, followed by a rapid expansion as 'they' get their marching orders to buy. I see nothing but up, just like everyone in here, everyone out there, and all the pundits, too. And you have to figure how much that bothers me, to be on the same side of the boat as the suckers, see the boat all lopsided, and no one on the other side. But, you have to do what you have to do, and just hope you are smart enough to jump off before you are too close to the falls and get swept over with the boat full of suckers. That's our job, such as it is...

spx paused right at the double .886 this morning.....the end of the move, or fake out?

You recall that old saw about "The question as to whether or not we are alone in the univers has now been answered..."? Well, "The question as to whether or not this pause at the double .886 this morning was the end of the move has now been answered...". This is why I posted my comment last night about everyone on the same side of the boat.

Originally posted by rat89

spx paused right at the double .886 this morning.....the end of the move, or fake out?

Click image for original size

Click image for original size

And yes, I am posting this right on the area it should bounce. They got the primary swing-low with a near 30 point swooooosh, so it's time. If they can't bounce it here (I strongly suspect they will), watch out.

I'd love to see them act on that double .886 for real, but we have a couple of weeks of ecb, jobs report, the fed, and opex to make it really interesting....

they do love to drive it to extremes and then throw everyone off the bus in both directions...

So by 'for real', you mean a lot more than 30 points, right?

Originally posted by rat89

I'd love to see them act on that double .886 for real, but we have a couple of weeks of ecb, jobs report, the fed, and opex to make it really interesting....

Easy, easy money, easy easy chicks for free...

Originally posted by jimkane

And yes, I am posting this right on the area it should bounce. They got the primary swing-low with a near 30 point swooooosh, so it's time. If they can't bounce it here (I strongly suspect they will), watch out.

Not seeing the expected follow through on the scalp. Sometimes patience is needed. I'd like to see this moving more in here, though. There isn't time to sit through a shakeout, and one shouldn't be needed if they want to close it on the high tick of the day.