Monday, 4 January 2016

10am update - did they halt the market yet?

The equity bull maniacs failed to break an important new high. The bull flag from early Nov' has been negated, as also confirmed via strong declines across other world markets. Regardless of any bounces - of which there will doubtless be, first soft target is the sp'1920/00 zone.


sp'monthly3, rainbow


*a new month/year.. and I'm more inclined to highlight some of the bigger cycles today.

There are some HUGE bearish trend changes underway.

Note the lower bollinger on the monthly and weekly cycles coincide around the 1920/00 zone

Okay.. so.. day'1, and we're off and running.

re: bounces. Considering other world markets.. a straight run to the low sp'1900s looks possible, if not probable in the near term. Were that the case.. it makes the case for new historic highs extremely difficult, if not impossible for some months.

It is already somewhat amusing to see how the cheerleaders on clown finance TV are getting spooked. Pisani is already talking about circuit breakers. lol

Prices are falling, HALT the market!

Other issues...

Gold, fear bid, +$17
Oil, +2.6%, as the middle east tinderbox becomes ever more... tinder.

I need at least a little sunshine, back soon

10.35am   Market vainly tried to rally.. fails... -45pts.. 1998....    next support is the 1993 low.. but that won't hold.

Really, it seems a straight run to the 1920/00 zone. It'll be pretty funny to see how quickly talk will start to turn of the 'rate hike was the worse fed decision ever'.

In any case....  bigger charts tell the real story.