Saturday, August 03, 2013

Are we there yet?



A lot of bears finally say: “Oh well, it is a bull market indeed”


A lot of bulls say: “We told you so”


Some wonnabies technicians say: “Top is on July 19th”


A lot of traders possessing common sense getting hate emails – Todd Harrison and yours truly to name just a few (Of course Todd is much smarter, but I am better looking)


VIX is down 7% in the flat market.


Possible “outside event” (that is how I read consulates closings all around Middle East) does not matter.


This is when that brown smelly stuff hits the fan … of course “this time is might be different”




Some people say that history does not repeat [exactly], but it rhymes.


This is the “Grand Channel” off 666 Evil Lows in 2007.

It shows 2 D-Waves


Compare waves “5”s ends



Now – look at he closeups of 5-A-B-C 2011 and recent possible 5 top and Andrew’s Pitchfork off lows of wave 5 over the tops and bottoms of “shakedowns”



2011 ( same chart – same grey channel line )



2013 ( same chart – same grey channel line )



How look at the channel of wave 5 of 2013 (different chart)


2013-08-03_1657 Same chart, just last two months – see how desperately SPX is trying to stay in wave 5 channel? It broke down, got back in, hanging by the thread, but rate of incline has changed dramatically (channels are self descriptive here) compared to the rise off June 24 low.














P.S. And don’t forget to look at the “The "Big Picture" OR Long Term Charts” – I do not want to be accused that I keep looking for Total Recall of Faulty Cruel World or PeeTree.


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