Innaugurated on the Day of the Crash?
DriftingByTheStorm
Posts: 8,684
I'm quite sure this is 100% incindental to President Obama's innauguration,
but the stock market is fighting a bounce off of very critical technical levels,
has been doing so all morning,
and,
coming in to the last hour of trading, is looking weaker.
Specifically,
here is a 3 month candle chart of the S&P 500.
The S&P index is fighting off of the 820 level, and this is critical near term support.
This support can clearly be seen in the candles for the 3 most recent trading days continuing in to today.
Further, this support is evidenced by the 5 daily candles starting with the very large red candle that follows the lowest point on the graph.
For anyone who doesn't understand what failure at technical support means,
just look at the first 3rd of this graph where there are roughly 8-10 candles that rest on or near the 850 level.
The two day crash from 850 to 750 that follows these candles -- the lowest points on this graph -- are a great example of what happens when a stock (or index) breaksdown at technical levels.
I want to insist that i am NOT fearmongering this point, or trying to poo poo Obama's innaguration.
I'm just giving a heads up (like i did over a year ago now, when the S&P was fighting 1,320) about the very real possibility of significant downside, provided that the market can not keep it's head "up" off of this 820 area on the S&P.
Unfortuantely, it is currently at 813, which as i have said, denotes an intraday weakining from this morning.
If we go sliding further down in to close, and especially if we close -300 or more, it could signal a large bear move tomorrow or later in this week.
I'm just sayin'.
but the stock market is fighting a bounce off of very critical technical levels,
has been doing so all morning,
and,
coming in to the last hour of trading, is looking weaker.
Specifically,
here is a 3 month candle chart of the S&P 500.
The S&P index is fighting off of the 820 level, and this is critical near term support.
This support can clearly be seen in the candles for the 3 most recent trading days continuing in to today.
Further, this support is evidenced by the 5 daily candles starting with the very large red candle that follows the lowest point on the graph.
For anyone who doesn't understand what failure at technical support means,
just look at the first 3rd of this graph where there are roughly 8-10 candles that rest on or near the 850 level.
The two day crash from 850 to 750 that follows these candles -- the lowest points on this graph -- are a great example of what happens when a stock (or index) breaksdown at technical levels.
I want to insist that i am NOT fearmongering this point, or trying to poo poo Obama's innaguration.
I'm just giving a heads up (like i did over a year ago now, when the S&P was fighting 1,320) about the very real possibility of significant downside, provided that the market can not keep it's head "up" off of this 820 area on the S&P.
Unfortuantely, it is currently at 813, which as i have said, denotes an intraday weakining from this morning.
If we go sliding further down in to close, and especially if we close -300 or more, it could signal a large bear move tomorrow or later in this week.
I'm just sayin'.
If I was to smile and I held out my hand
If I opened it now would you not understand?
If I opened it now would you not understand?
Post edited by Unknown User on
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Comments
As it turned out, none of those individual breaths had anything to do with her overall health and recovery. The doctors told me they were less concerned about individual breaths than the overall plan of recovery. Who knew right?
The market dropped almost 100 points within 15 minutes of me writing this post.
-331.
I think it DOES have something to do with its overall health.
Anyone who argues against technical analysis in the markets is a fool, imho.
I'm just sayin.
If I opened it now would you not understand?
Any anyone that has nothing better to do than stare at stock tickers all day and live and die based on their every twitch upward or downward needs some fresh air, some perspective, and some valium.
I'm talking about analyzing the markets, and attempting to communicate forward looking concerns based on market patterns. I didn't say i was having an aneurysm over it.
As far as i can tell, my concerns are valid, and all you have addressed is your perception that i am a paranoid nutter. The market currently dipping to December lows is assuring me that i am, in fact, NOT a paranoid nutter, but a pragmatic realist.
Your constant derogatory tone towards me does not go unrecognized, though. :roll:
If I opened it now would you not understand?
i think we're in for a long, bumpy ride ahead......got to pay for our past mistakes and all....cyclical shit, etc, etc.......it's in motion and we have to hang in there.
i think bush out and obama in can only mean GOOD for us as a nation. it may not be perfect, it may have some serious ups and downs, but i definitely think we'll be moving in the right direction. hopefully, the markets too....in time.
Let's just breathe...
I am myself like you somehow
I've read your posts for years... you are extremely paranoid and have no life but to report financial doom and gloom every five minutes. You never have solutions and are constantly crying "FIRE". It is highly annoying...
Well i guess its a good thing for everyone that i'm just paranoid, and have not been right about financial doom and gloom? Everything is OK and the media is just overhyping the situation, huh?
The level of cognitive dissonance in this place is what is highly annoying.
:roll:
And for the record i have suggested solutions MULTIPLE times.
One time i even wrote "Drifitng's Five Point Bailout Free Plan For Saving The Economy".
Guess how many responses that post got?
NONE.
If I opened it now would you not understand?
Because I've seen you "analyze" this stuff before and have aneurysms about it. I guess I come from a different perspective though. What the hell do I care if the market crashes? I have no stocks, no retirement plan, etc etc. Honestly, I hope the whole thing collapses and we see every Wall Street piece of shit human being jump out of a tall building. This economic system built around "the market" is a complete fucking joke. It's a lame attempt to make an abstract idea seem like a real, predictable force and its only purpose it to help the wealthy get even wealthier at the expense of the poor, lower class, and middle class.
I actually feel like I did see and respond to something like that once.
Not today Sir, Probably not tomorrow.............................................. bayfront arena st. pete '94
you're finally here and I'm a mess................................................... nationwide arena columbus '10
memories like fingerprints are slowly raising.................................... first niagara center buffalo '13
another man ..... moved by sleight of hand...................................... joe louis arena detroit '14