| To: skinowski who wrote (39025) | 11/26/2021 6:06:19 PM | | From: skinowski | | | | There’s also the correction that bottomed on Nov 10. What followed was an impulsive move up to 470.48.
After that, a three-waver down, a three-waver up to the top of 473.54…. Only to be followed by the current mini - debacle. The entire sequence since Nov 10 top may have been one single expanded Flat. (Or multiple “three”).
So, we shall see. No reason yet to say good bye to the Bull.
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| To: skinowski who wrote (39026) | 11/27/2021 12:51:40 PM | | From: skinowski | | | | Here’s yet another possible interpretation of the decline so far. Since the market broke below a level he thought important, now he’s convinced it’s a bearish leading diagonal.
Do I believe that? I say, if we get an ABC up and then go down to new correction lows, then - yes. I’ll believe it’s a strong possibility.
Even in that case, his presumed leading diagonal may prove to be A of a larger ABC correction.
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| To: Sendme who wrote (39028) | 11/27/2021 7:52:45 PM | | From: robert b furman | | | | Hi ski,
10 day clx is extremely bullish.
I'm thinking the dips in last week's lead up to monthly expiration were in the open and mostly ended with the close going up. A lot of calls were destined to be assigned if Friday's partial day would have ended up even.
A partial day with most traders out early for the Thanksgiving holiday, is an easy picking manipulated down market. It stopped a lot of assigned calls and yet wiped out $00.00 most of the open interest in puts.
A market makers home run.
With clx having negative offsets on 9 of the next 10 days, it was either a break out into parabolic land, or a surprise manipulated crash like one day event.
Tomorrow when futures open, we'll have a clue.
Just my think like a criminal view. <smile>
Bob |
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| To: skinowski who wrote (39026) | 11/27/2021 8:13:44 PM | | From: Sendme | | | | This market loves channels. But the first drop isn't always the "BIG ONE"
I admit that I haven't done a lot with time cycles, but found this interesting. It would suggest that around Dec 7th we could see a bottom in the market if the bottom of this channel holds as support.
Weekly chart with the RSI looks like it could still bounce around the 50-70 until 2023 as it puts in a topping process
The Russell 2000 is also known for its false break outs. I was kinda expecting it to fail again, but thought it would have been the beginning of 2022
On the one hour chart I have a Head and shoulder target just a bit lower than we hit on Friday. Then would be open to an AB=CD move going into Dec 7th.
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