I don't like this bollocks at
https://www.armstrongeconomics.com/armstrongeconomics101/basic-concepts/the-numbers/"Marty; your numbers are just incredible. Your number 17800 I thought would be elected. The Dow was above it and looked like it was preparing to take off. ... "
WTF? Why he needs this kind of nonsense with such hosanna from some random assholes? I have his private reports and I read his public blogs, but I can't remember he said anywhere anything about a DJIA 17.8K resistance. Anybody read anything from him about a DJIA 17.8K resistance?
In this particular instance even retail day traders like me could understand (i.e. without the input of Armstrong) and it was clear that the latest rally is a dead cat bounce. I probably even said in this blog that I expect DJIA is flattening out and pulling back. I have been almost as long on the market as Armstrong so by being on the market you learn to be calm and understand when the market is uncertain. Plus, all sane analysts like Caldaro and the rest say clearly that this is very much a bear market right now. So even my 4 years old grand daughter would started shorting from DJIA 18K 6 weeks ago and wouldn't fall for this latest bull trap. Why he needs such hosanna about fairly obvious numbers, when again, in fact he hasn't even said anything about the DJIA 17.8K resistance? (or I just completely missed that).
" We will see the Dow come into that sweet spot where you can buy it with two hands and watch it rally to test the 23,000 level in the years ahead. Nobody seems to expect a rally and that makes this even more explosive."
within a week, your super forecaster has flip flop again to the bull camp.... what a joke.
OK, you are quite right to say that, but please note, nobody is having a fucking clue about what is happening on the market.
Caldaro, from a bear transformed into a bull, now he is in the bull camp and he blames the PPT (Plunge Protection Team), and he is one of the most intelligent analysts. All technicals and fundamentals contradict this rally, so people are confused. For example the number of IPOs is at historically low which would indicate a bear market should come. The VIX was historically low, which would indicate a sudden pull back. Still the rally is on. In the past, Armstrong would say: the market is not tradeable, get out. So he was honest. My trade were always long straddle in that situation and it always worked just fine. Now Armstrong is saying nothing useful or flip-flopping, because he has no clue as well. So yes, since Friday everyone is a bull again.
I am not overly worried about the situation. If the SPX 2131 resistance dont hold then we could have the case for a bull market, but who knows. In this situation I am on long straddle again, nothing can go wrong with that.