03/20/2020 Live Update

[BullTart]

Made it back into the ascending triangle within time... looks like that was fakeout to shake the longs out and snap up all the stops before heading back up... now let's see if we make it back up to the top of the triangle

[Junior Buffett]

Made it back into the ascending triangle within time... looks like that was fakeout to shake the longs out and snap up all the stops before heading back up... now let's see if we make it back up to the top of the triangle

looks like it is really breaking down now..I have 2390 as my entry point from bottom for reentering within ascending triangle.

[Al_Dente]

Hmmm......On my calculation of the Russell 2000 equivalent of the NYMO, the oscillator went positive yesterday.
Perhaps we will see the R2K lead the turn. Something to watch.

Boss: how do you chart the "Russell 2000 equivalent of the NYMO" ??

[Al_Dente]

.......looks like it is really breaking down now..I have 2390 as my entry point from bottom for reentering within ascending triangle.

All of our old friends are coming back....
WELCOME BACK

[Junior Buffett]

.......looks like it is really breaking down now..I have 2390 as my entry point from bottom for reentering within ascending triangle.

All of our old friends are coming back....
WELCOME BACK

thank you boss..yes bottom sniffing!

[JFR]

ES 5. Press conference over. Very contentious at times. ES is relatively quiet. Taking a break here.

Have a good and safe weekend, Everyone.

[Al_Dente]

I just listened to an Eliott Wave International podcast thingy (by Brian somebody-or-other).
He believes that there will be violent short-covering rallys, BUT NO DURABLE BOTTOM YET because “market allocation” has yet to wash out to its lowest point. Meaning the market won’t bottom until EVERYONE is out.
So, don’t get back in yet (except for short-term covering rallys …aka: rallys in a bear market). Wait for everybody and their uncle to be OUT OUT.

"Each day, people think they are buying a low. When the real low arrives, they will be selling.”

Bob Prechter, New Orleans Investment Conference, Nov 3., 2019: “We are in an unprecedented financial bubble. Everything is overpriced. Stocks are overpriced; bonds are overpriced; real estate’s overpriced; and I think commodities, even though they’re down from their highs and gold, even though it’s off its all-time high, are also overpriced. There is virtually nowhere to hide.”

[QED]

I just listened to an Eliott Wave International podcast thingy.
He believes that there will be violent short-covering rallys, BUT NO DURABLE BOTTOM YET because “market allocation” has yet to wash out to its lowest point. Meaning the market won’t bottom until EVERYONE is out.
So, don’t get back in yet (except for short-term covering rallys …aka: rallys in a bear market). Wait for everybody and their uncle to be OUT OUT.

Thanks! Did he give any levels/numbers?
.

[Cobra]

Bull's last chance here, decisive break down then it's measure move down.

[Al_Dente]

I just listened to an Eliott Wave International podcast...

Thanks! Did he give any levels/numbers?
.

No, he didn’t give numbers. He showed historical crash charts, and “proved” that the “We are in uncharted territory” narrative is false.
He showed how we are still in the big-ass major “A” wave down… which will be followed by “violent rallys” to “B” and then
JUST PLAIN DOWN to “C”.
Historically, sometimes the C wave is huge and much deeper than the A wave down, sometimes the C wave is relatively shallow, and ends roughly at the same depth of the A wave down....

[btw: This is what Cobra has been saying in his overnight commentaries: paraphrased: don’t get too excited by a rally, we’ll likely continue down].

He, the EWI guy, emphasized “market allocation” which has not washed out yet, meaning folks are still trying to buy-the-dips.
For me, stockcharts, I’m trying to see how “sentiment” can chart that "market allocation".
He also emphasized the EW is best when combined with analysis of VIX, volume, breadth and momentum...
I'm working on that........

[Al_Dente]

PDCF = Primary Dealer Credit Facility
“Veterans on Wall Street think of the PDCF as the cash-for-trash facility, where Wall Street’s toxic waste from a decade of irresponsible trading and lending, will be purged from the balance sheets of the Wall Street firms and handed over to the balance sheet of the Federal Reserve – just as it was during the last financial crisis on Wall Street.”

The PDCF is not “an overnight loan facility…that provides a… backup source of funding to banks”, as the Wall Street Journal says. That’s baloney. The PDCF “was the largest Wall Street bailout program during the financial crisis” which issued roughly $9 trillion to underwater banks for their low-grade-dogshit collateral. The facility was used to bail out the banks casino operations (“trading and derivatives”) while providing lavish multi-million dollar bonuses to voracious, thieving executives.
https://www.zerohedge.com/markets/fed-r ... to+zero%29

[BullTart]

stopped out of my TQQQ positions - pattern morphed into a bear flag, and it we just broke the bottom of it

will be in cash over the weekend - don't want to hold any positions so i can sleep peacefully

[Al_Dente]

Any EW folks here?
All the charts he showed were dow charts $INDU
no $SPX charts
comment on this please

[as you may have noticed, i am not an EW person, but he made it VERY simple..... simple enough for even me to follow]

[Cobra]

Measured move down as expected. Now testing yesterday's low, key time.

[Al_Dente]

HAPPY HOUR

[Heck]

Clearing firm Ronin Capital unable to meet capital requirements at CME:

[QED]

Any EW folks here?
All the charts he showed were dow charts $INDU
no $SPX charts
comment on this please

[as you may have noticed, i am not an EW person, but he made it VERY simple..... simple enough for even me to follow]

The three Elliott Wavers that I watch:

coolbiz1 (@coolbizone)
https://twitter.com/coolbizone

Pretzel Logic
http://www.pretzelcharts.com/

Daneric's Elliott Waves
http://danericselliottwaves.blogspot.com/

.

[Heck]

GS Target - 77 %
From 149.19 to 34.98
- 3.58 % Dividend

661.83 % Debt/Equity

[Al_Dente]

thanks QED

[QED]

.
35 year weekly #DJIA chart, putting this decline in perspective.

The only thing that comes close in terms of velocity off of all time highs is the 1987 crash.

https://twitter.com/NorthmanTrader/stat ... 2507202561
.