Experience is never limited, and it is never complete; it is an immense sensibility, a kind of huge spider-web of the finest silken threads suspended in the chamber of consciousness, and catching every air-borne particle in its tissue.
Henry James
The 120-minute SPX chart above shows a clustering of Wave 5's (various degrees), followed by a breakdown of the Up-Trend Regression Channels and a Blue Wave Sell Signal, all taking place since last's Thursday's close.
The above chart the SPX pans out to the Daily perspective and reveals a rounding top that is just barely holding onto an 11-day-old Blue Wave Buy Signal that did flip to Short on an Intraday basis today, before those mysterious institutional buy programs again propped up a weakening close.
Finally, the above is a Weekly chart that is about as long in the tooth as it can be.
I want that Weekly trend regression channel broken to the downside and/or a Blue Wave Sell Signal before committing a total and immense sensibility to the Short side of this market.
A
5 comments:
What an exquisite bit of eloquent insight from the master, Henry James.
I have a really good feeling about this current decline and I loaded up to the hilt with deep out of the money puts. People are starting to skip and whistle again thinking all is well but they are about to get the slap down. I saw a guy crying on the train yesterday cause he had just lost his job and It made me smile. Suffering=profit people if you know what to do.
anon who writes:"I saw a guy crying on the train yesterday cause he had just lost his job and It made me smile" is sorry excuse for a human being. You'll get yours eventually...there's no doubt about it.
Mike
Mike, I agree with your concise assessment of anon., but I think you are being too generous to attribute any humanness to such a lout. There has to be a special place in the lower reaches of the invertebrate kingdom for such a leech. He will definitely "get" his due and if I was standing in front of him right now, I would be the delivery man..
yes I did get mine guys. Some nice fat profits on my Puts with more to come.
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