11am update - they bought the dip, and got the kick

I have to say, it was very amusing to see the maniacs buying the gap lower, only to get kicked en-masse at 10am. Clearly, all of those were amateurs, who have no concern about the state of the daily cycles. Utter madness for them to buy the gap lower, immediately after the huge bear flag having been confirmed.


Sp'60min

A little bounce is to be expected, by end-day, bears would prefer a close under the 10MA  -currently 1378, but falling rapidly.


Sp'daily - bearish outlook

*special note on daily chart
Its possible - if it is a H/S formation, that we are still creating the right side of the 'head'. Thus 1340..then a bounce to 1370/80....and then a break under 1340...with target of 1270/50 in May.
I will update/create a chart to illustrate that idea later.
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The daily cycle is now a very pleasing sight, we have the big bear flag confirmed, and first target remains an easy 1340/25. There is a lot of chatter about 'where will we floor?'.  As noted earlier, we'll probably know nearer the time.

First, we need to hit 1340..more likely late Tuesday/early Wednesday.

Frankly, anyone taking on new long positions today is a crazy maniac.

yours...
 in the bunker.

10am update - everything as expected

The morning gap lower is a very good clarifying situation for the bears, the wave'2/bear flag IS confirmed. SP'1340 will surely be hit within the next few days. Whether we can hit 1325/00..we'll have a better idea once we are at 1340. So...lets take each day in this down cycle as it comes.

*the exciting thing from a doomster point of view is that both the weekly and monthly cycles are now seriously warning of major trouble on the 1-6 month time scale.


Sp'60min

VIX'60min

Clearly, we've already seen a bunch of maniacs chase the open and take on 'bargain' long positions...crazy! They will all get the kick (those that use stops at least) soon enough. It is especially both amusing and disturbing at the same time to see people chasing AAPL back up. Do they not look at the daily charts?

We are sure to get a little bounce at some point in the day, but main trend IS down.. so I hold short regardless of any intra-day noise.

Holding to all targets as stated over the weekend.

More throughout the day!

Shields UP...you bullish maniacs!

Good morning! The daily cycle bear flag will be confirmed at the open with a gap lower of around 1.25% or so, that gets us to around sp'1365.

Everything is looking good for a bearish week ahead.

This remains the primary chart to keep in mind...

Sp'daily, bearish outlook

Doubtless, regardless of how low we fall this morning, we'll get a bounce/test of the 10MA later in the day, and then rollover again.

Those bulls who were going long on Friday are getting a chance to exit this morning for just a minor loss, if they hold, they could be panic selling by late Wednesday. From a bear's perspective, this could be a highly amusing week to watch and be part of ;)

Much more throughout the day!