Short ETFS 60 Min Charts Setting Up: These Are Very Bullish Patterns
whcih is obviously very bearish for the markets. I anticipate the biggest spike in volatility yet. You ain't seen nothing yet. VIX will be over 100 within two weeks.
The Dow chart looks a lot like it did in Oct/Nov 1929. If it unfolds the same way, we would see three more days down now, bottoming 8% below the current low. Breaking through the current low probably would bring the VIX up to 100. There's plenty of people thinking we put in a bottom on Thursday.
thanks for the charts stewie. john at http://www.weeklyta.blogspot.com/ also pointed out a bear flag pattern in the dow. seems to me that a lot of 30 min charts are showing triangle patterns that will most likely breakdown soon. i would check out the Ag names for great short opportunities too
The Dow chart looks a lot like it did in Oct/Nov 1929. If it unfolds the same way, we would see three more days down now, bottoming 8% below the current low. Breaking through the current low probably would bring the VIX up to 100. There's plenty of people thinking we put in a bottom on Thursday.
ReplyDeleteyes agree 100%. cnbc is buzzing and singing happy bottom songs. they got a little surprise coming.
ReplyDeletethanks for the charts stewie. john at http://www.weeklyta.blogspot.com/
ReplyDeletealso pointed out a bear flag pattern in the dow. seems to me that a lot of 30 min charts are showing triangle patterns that will most likely breakdown soon. i would check out the Ag names for great short opportunities too
thanks for that link Psy.
ReplyDeleteI recently found John's blog. Really good stuff he has.
ReplyDelete