Thanks for your input
when everyone expect a crash , not going to happen. also SPX is now above 3200 .
It is going to all time high and suck everyone in .
The small traders are all very committed. Armstrong should mention that this is a slingshot move
that sucked every one in and then crashed down into 2021 . Shocked
but not now. expect a big crash after the Trump election .
Pls comment .
This is what I am trying to figure out in the current market. When we go for March retest and with what format or speed, or do we just keep going up
What I try to do is match my technical signals to possible outcomes and in some cases try to match them against what armstrong has been saying.
He has said we are in for the wildest volatility in 300 years. I have to intrepret that to mean that the VIX will go back up all the way and take out its recod all time high.
He also said that Nasdaq will turn back down in June and that it could retest the low.
The question is... what type of price action will we get that tests the March low ? with what speed, format or structure.
IF this entire rally has only been a counter trend rally, then one has to consider we could get a massive crash down that is fast and retest the March lows. We just had a lunar eclipse this past weekend. There was also one on October 7, 1987. Right before a massive plunge down and crash.
There are a couple other eclipses this month and apparently we never had so many in one month in 2000 years. We also have mercury retrograde June 18th.... The february and March crash was a mercury retrograde leg down.
I wish Armstrong would just go out and say it..... a CRASH.
on the monthly NDX100 chart versus RSI there is a CLASS C Bearish divergence. That makes the case that we can see a massive crash down that has persistence and sustained down moves.
There was also a put buyer of $2 million in 255 July 3 SPY puts.
Daily level for DJIA says "possible critical high"
last but not least the US Dollar is showing a 2 month bullish crab pattern and looks set for a massive northward rally. There is a very strong inverse correlation between sp500 and us dollar.
That might lead to a massive crash in sp500 if we see the US Dollar go into orbit.
IN summary we need to be prepared for the possibility that we see a massive 4 week crash down into end of JUNE.
Armstrong is still calling this a false rally and a retest of the march low is still in play, the timing may be off but this information is invaluable. most people have jumped back into the market thinking we are off to new highs.