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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.

Thursday, May 10, 2012

financials goes, so goes the market.

financials goes, so goes the market.
this is the 3rd pink diamond breaks down since Mar 20 peak.
every diamond breaks down induces deep plunges.
after the market close, JPM plunges more than 6.5%, C plunges more than 3.5%.

as expressed in the market close update, market should gap down tomorrow morning, then work off the fear factor. updated volume indicator spots this turn around beautifully.
financials should lead the market down tomorrow. financials goes, so goes the market.

J.P. Morgan Flags $2 Billion Trading Loss

i guess Meredith Whitney's upgrade of Citi at the peak is just like Goldman sach's bullish call on GOLD today.
after Meredith Whitney's upgrade on Citi, it dived 16% so far.
per my updated analysis, GOLD and commodities are at the verge on "point of recognition". i guess Goldma is in panic mode on their holdings. they could be the next after JPM to take billions of losses. domino effect! many more banks to follow.
i guess they are either holding the trapped bags, or eager to unload the inventories to the retails. will you catch their inventories? or ask me if you have question.