A Disturbing Lack of Faith?
More Nattering regarding Red October or Timing Is Everything? and the condition of our market condition, AKA A Case Of Taper Worm?
Prior to jumping any conclusions as to whether the current correction bottomed on December 25th, and whether today January 7th is indeed an inflection point or NOT....
"Today's [12/28] 2517 ES would be in the zone of a .382 retrace or reciprocal of .618. Meaning this bounce has ran its course after 4 days? And we should see a continuation of the downtrend? Possible.
2560 retrace would be .382 of the TOTAL 630 pt drop since 10/3 . So that is a value of interest. Being only 40 pts above today's 2520, this bounce could turn down in 6 days?
IMHO to get the appropriate recoil from the recent 500 pt downdraft (12/03 - 12/25), if this bounce has "legs" it might run 7 - 9 trading days.
The latter being next Friday the 4th, and bouncing up .618 or to 2630. This sets up Monday 7th for ???
Better yet, try .618 of the total 630, for 2710. Of all these possibilities, I would watch 2630 to 2650 with great interest. Resistance at the low and close on 12/12, the last UP day prior to current dip." - The Nattering Naybob - December 28, 2018 3:51pm
Friday the 4th, was the 9th trading day in the current bounce. An assault on 2550 is occurring as this is being written. Regardless of where we close today.... as previously noted when meddling with forces beware the Ides of January, early Jan 7th or otherwise by Jan 14th. All TBD.
A gentle reminder to review last years 1st inflection point...
Prior to jumping any conclusions as to whether the current correction bottomed on December 25th, and whether today January 7th is indeed an inflection point or NOT....
"Today's [12/28] 2517 ES would be in the zone of a .382 retrace or reciprocal of .618. Meaning this bounce has ran its course after 4 days? And we should see a continuation of the downtrend? Possible.
2560 retrace would be .382 of the TOTAL 630 pt drop since 10/3 . So that is a value of interest. Being only 40 pts above today's 2520, this bounce could turn down in 6 days?
IMHO to get the appropriate recoil from the recent 500 pt downdraft (12/03 - 12/25), if this bounce has "legs" it might run 7 - 9 trading days.
The latter being next Friday the 4th, and bouncing up .618 or to 2630. This sets up Monday 7th for ???
Better yet, try .618 of the total 630, for 2710. Of all these possibilities, I would watch 2630 to 2650 with great interest. Resistance at the low and close on 12/12, the last UP day prior to current dip." - The Nattering Naybob - December 28, 2018 3:51pm
Friday the 4th, was the 9th trading day in the current bounce. An assault on 2550 is occurring as this is being written. Regardless of where we close today.... as previously noted when meddling with forces beware the Ides of January, early Jan 7th or otherwise by Jan 14th. All TBD.
A gentle reminder to review last years 1st inflection point...
"Note to self... chart what happened this year [2018] during the 1st seasonal inflection" - The Nattering Naybob 10 Oct 2018, 11:46 AMA subtle reminder to review the 2nd inflection point...
"Would guess any rebound won't occur until the 2nd seasonal inflection point in Feb." Salmo Trutta 02 Jan 2019, 10:43 AMDisregard for the strong force and temporal proximity?
"I suspect we may move higher. Running out of time for an impulsive move down but the window is still open." B For Bob 02 Jan 2019, 11:02 AMA prescient reminder to review the 1st inflection point...
"Yes, but then it will hit the wall again (the 1st seasonal inflection point)." Salmo Trutta 02 Jan 2019, 11:18 AMAgain, just when you thought it was safe to go back in the water, you can't even get past the sand...
"Looks like I got the gap right but the direction wrong. Good thing my order didn't fill. Better lucky than good, as the saying goes." B for Bob 03 Jan 2019, 09:35 AM
"Spoke to soon and they got me again." B for Bob 04 Jan 2019, 10:26 AMAn astute observation?
''...Questioning my EW counts and their synchronization with Naybob's outlook."Strong, the force is with that one...(careful) IamTheWolf 03 Jan 2019, 06:33 PMContinuing disregard for axiomatic forces and temporal proximity?
"Monday is January 7th. I've seen gravity defied before. And I'm betting (pending end of day) on seeing it defied again, at least in the very near-term. However, I have no problem becoming a humble believer if come the Ides of Winter on Monday." B for Bob 04 Jan 2019, 12:40 PMThe Nattering One muses.... Nothing is tied to Monday January 7th, 2019 or written in stone. Lets be careful out there and this...
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