Full discosure I have no positions at the moment. Today played the long side a couple of times for some change not big bucks. IMO The close on the VIX should invoke a pullback Monday AM.
Petsamo wrote:We have euphoria! Everything is peachy keen! Those bears are a bunch of dummies!
How long can euphoria last before reality hits though? I'm scared to go long at these levels!
The bulls were bloodied this summer. Time to bloody the bears?
Not bloodied. Gutted
I'm not sure that's necessarily the case. I think they decimated the funds this summer, who traded both ways. And then in the mid-August to Oct 4th chop I think they nailed them 6 or 7 times and the volume we see here is that many have quit.
I think that the computers have beaten the crap out of anything they have done and I don't think it was with a strong bias either way. And now I think many have let a number of traders go and left the mkt.
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Sort of agree with the timing -- a bit off. But for last few top and bottom calls, locations were almost perfect.
Mark his words here, next Tuesday open or close will be a top if Monday is a higher high close. ( If not, wait for the next close in the higher high sequence. )
Will check back a few weeks later.
tdo722 wrote:
trader_jay wrote:He nailed this rally from Nov, when spx was about 100 points lower.
FinancePhD wrote:
trader_jay wrote:Good news and bad news for bears:
On Bloomberg a few moments ago, DeMark just called the market will top out next Tuesday. But it will be 20-30 ES points away.
I saw it as well. But was his previous prediction accurate before?
His prediction seems okay but his timing is about a month off. He said 1330 by december 23rd then game over for bulls.
Or... maybe he's just wrong? And that is why his "timing" is "off"?
Hey I can be right about market calls too, in fact I often am, and if I am wrong just give it time, eventually I will be right. Seriously anyone can mark a support or resistance area, proclaim that it'll be the bottom or top, but that won't necessarily make it one! Please, does he have a crystal ball?? You guys don't trade by this stuff do you? Seriously, I hope not. Gaaadds. Anyone picking a top (like so many in TVIX over the past two weeks) are getting their heads handed to them on a gold plated platter that they paid for. Don't try to catch a falling knife or stop rocket with your hand.
Is there overhead resistance ahead? Sure. Will there be a reaction at it? Probably. Will it be a top?? Depends how you define a "top" I guess. I'm sure whatever happens there will fit into his definition of a "top" or like other prognosticators his calls will be forgotten soon after they are made. I can look back at a lot of "tops" which are now below us.
I bought the December top... I added to longs today.
stlwater wrote:Or... maybe he's just wrong? And that is why his "timing" is "off"?
Hey I can be right about market calls too, in fact I often am, and if I am wrong just give it time, eventually I will be right. Seriously anyone can mark a support or resistance area, proclaim that it'll be the bottom or top, but that won't necessarily make it one! Please, does he have a crystal ball?? You guys don't trade by this stuff do you? Seriously, I hope not. Gaaadds. Anyone picking a top (like so many in TVIX over the past two weeks) are getting their heads handed to them on a gold plated platter that they paid for. Don't try to catch a falling knife or stop rocket with your hand.
Is there overhead resistance ahead? Sure. Will there be a reaction at it? Probably. Will it be a top?? Depends how you define a "top" I guess. I'm sure whatever happens there will fit into his definition of a "top" or like other prognosticators his calls will be forgotten soon after they are made. I can look back at a lot of "tops" which are now below us.
I bought the December top... I added to longs today.