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Public blog posts only as education and entertainment. private membership market updates reflect my view and analysis of the market. The information contained on this website and from any communication related to the author’s blog and charts is for information purposes only. The chart analysis and the market comments do not hold out as providing any financial, legal, investment, or other advice. In addition, no suggestion or advice is offered regarding the nature, profitability, suitability, sustainability of any particular trading practice or investment strategy. The materials on this website do not constitute offer or advice and you should not rely on the information here to make or refrain from making any decision or take or refrain from taking any action. It is up to the visitors to make their own decisions, or to consult with a registered professional financial advisor. And i absolutely discourage trading options.

Wednesday, November 3, 2010

$rut - 2 levels of broadening Top

two levels of expanding triangles are wide open, much wider than spx, that could mean downside is much larger.

PS. 1). one person express the "pain" of an intraday new high today. well, spx made 0.18% higher than 8 days ago. i guess i can live with that kind of "pain". even though the Fibonacci cycle got invalidated, but the Nasdaq symmetrical timing-price cycle and the big picture crash pattern won't be altered by this 0.18% higher intraday. you will be fine if you don't trade options. that's one reason i strongly against trading options. the big picture could be right, but if the timing is off, then your options position is doomed.
2). some people disappoint market doesn't crash today. well, i don't expect market to crash today. as i sent email, i expect xx days, 45% grand crash.