Starting it off.

Well, they are holding that low rigorously so far, which is how I would expect it to be. I'm just surprised they didn't 'make it all right back' like they so often like to.

they wait as long as they can.....the question is: what does it take for them to close the year with a marginal spx gain but scare everyone out first...

The Euro likes triple tops and bottoms these days.

Happy New Year, guys!

HNY to you, too, Marcin, and to everyone else.

Get a load of the smooth trend down overnight and in the AM session, and the smooth trend up in the RTH. Just insane action. And the moves back down were highly tradeable in my opinion. Another trading period that I rate 12 on a scale of 1 to 10. Just crazy good action.

Recall what I said about the Pound. I am not sure why 1.4700 is super-critical for Armstrong. Other than a key weekly TL that is very close to there, it seems odd to have a major point being at an exact even level (1.4700) with that not being say a previous yearly low or something like that. I am baffled as to how he came up with this. Anyway, I said it would likely close the year very close to that, but absolutely not below the key value. By my data it had just traded a new low for the move at 1.4726 (as it was grinding down), and it exploded. Like I said, in my opinion, if a below 1.4700 yearly close indicates a crash in the Pound, no way it will close below that. No way.

Okay, Armstrong has a new post, and he says the main number in the Pound is 146.12 (no danger of that today, unless it takes off over 130 pips in the next hour...). No mention of 1.4700, which he mentioned last time. So, perhaps it isn't significant at all. Yet he said it was the line in the sand for a crash scenario. Hmmmm.

According to Armstrong (how many times have I used that expression?) 2058.90 is the key yearly close number for the S&P. I assume he means the index. This could easily put on eight or so points here in the next just over forty minutes, especially since I just got a buy trigger. That would really chap my hide if it did it, to close above the critical number. Assuming, of course, that all this Armstrong stuff is as critical as he says it all is.

Let me quote Armstrong specifically on the Pound:

"In the British pound, the number is 15200, but the main number will be 146.12."

So, why 1.5200 even, and where's 1.4700 even? I'm confused now...


Source: http://www.armstrongeconomics.com/archives/41264

And, indeed, that was it.

Originally posted by jimkane

That's realistically all I would expect right there.