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Post by huh on Dec 11, 2015 14:13:13 GMT -5
Should be a very, very interesting day. SPX upside resistances are ~2040 (38.2 FIB), ~2045 (50 FIB), 2050 (61.8 FIB & gap fill), and 2057 (76.4 FIB) Expecting we'll see at least 2045, but probably 2050 as well. Though only over the highest of those would market flip bullish since that 2057 is now the squeeze trigger. And finally, here comes the option decaying squeeze action
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Post by huh on Dec 11, 2015 15:15:24 GMT -5
Should be a very, very interesting day. SPX upside resistances are ~2040 (38.2 FIB), ~2045 (50 FIB), 2050 (61.8 FIB & gap fill), and 2057 (76.4 FIB) Expecting we'll see at least 2045, but probably 2050 as well. Though only over the highest of those would market flip bullish since that 2057 is now the squeeze trigger. And finally, here comes the option decaying squeeze action Some squeeze [/sarc]
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Post by birthmark on Dec 11, 2015 15:53:28 GMT -5
A trapdoor under the trapdoor!!
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Post by huh on Dec 11, 2015 15:59:41 GMT -5
AAPL next downside target under 111.95.
I don't see any reason now why SPX won't drop to 1930's now.
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Post by huh on Dec 11, 2015 16:01:43 GMT -5
Oil target 34.95
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Post by huh on Dec 11, 2015 17:25:18 GMT -5
Interesting read: Third Avenue Redemption Freeze Sends Chill Through Credit Market-Freeze on withdrawals comes as junk bonds head for annual drop -Biggest outflows in a year are a `dark cloud' over the market "Investors who piled into the riskiest corners of the credit markets during seven years of rock-bottom interest rates are getting a reminder of how hard it can be to cash out...A lot of this looks like late 2007 or early 2008..."Dec. 11 at 5:14 PM 1SimpleTrader fun fact -- this week was the highest volume week ever for $HYG capitulation anyone?
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Post by huh on Dec 11, 2015 17:26:14 GMT -5
Dec. 11 at 3:53 PM RyanDetrick The last time the $SPX dropped 2% in December? 12/8/11. '08 before that. $SPY
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Post by novie08 on Dec 11, 2015 22:31:55 GMT -5
Remember months ago when Armstrong predicted $35 oil?
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Post by walnut on Dec 12, 2015 0:13:47 GMT -5
I did get gas for 1.61 yesterday, it's as cheap as koolaid
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Post by huh on Dec 12, 2015 8:20:39 GMT -5
Interesting read: Third Avenue Redemption Freeze Sends Chill Through Credit Market-Freeze on withdrawals comes as junk bonds head for annual drop -Biggest outflows in a year are a `dark cloud' over the market "Investors who piled into the riskiest corners of the credit markets during seven years of rock-bottom interest rates are getting a reminder of how hard it can be to cash out...A lot of this looks like late 2007 or early 2008..."And another one: Stone Lion Capital Partners Suspends Redemptions in Credit Hedge FundsThe not so ironic thing about this is that the two founding partners of Stone Lion, who founded this in 2008, were both Co-Heads of the Distressed Debt and High Yield trading group at Bear Stearns. Go figure.
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Post by huh on Dec 12, 2015 8:53:09 GMT -5
I went through a ton of charts this morning, and I have to say it looks bad out there. If you don't look at the indices, you'd think the markets had already crashed huge. For example, look at HYG (high yield corporate bonds): ... The media all bearish over HYG now - just as it hits support
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