8 thoughts on “CHARTS OF THE DAY

  1. Bob UK

    That top chart puts everything into perspective – thanks.

    I was hoping for Facebook to drop down to 50 bucks in a big tech fall before the NASDAQ goes for the record high. The momentum tech stocks have mostly not done anything much in this sell-off.

  2. Joe

    Glad that you published the chart for recent market pullbacks. It makes sense that the market is not yet ready to end this correction and reminds me that I have more pain with all long holdings. Unless I can get lucky with a large short or just sell and assume that I will get a lower entry.

  3. Mark Crawford

    Sure they said they will end QE. But it will be replaced and call it something else. The FED need to pump $ in the system otherwise the USA economy is hosed. The democrats needs a higher market before the mid-term election. its the only thing the democrats can be proud of.

    Gary as always thanks for the great charts and your perspectives.

  4. Jorgy

    POLY SAYS, “The S&P is in serious trouble. In this last DC, it made new all-time highs and now a Cycle failure, not other way to see this. That means that this current 22-24 Investor Cycle, which is only on Week 7, is going to be a Left Translated correction Cycle, meaning that by Jan or Feb the S&P will be down by over 10%. OR, a case that few see, this Cycle failure is a trap and the market goes into a blow-off like move right here over the next 12 weeks. Under than scenario, I would say that the end of the bull market circa 2009 would be in play. Under the correction Cycle scenario, we should see further all-time highs in 2015 as the market finally peaks.”

    The blow off scenario is low probability, whereas the failed IC is high probability. Longs are playing with fire at this point in time IMO and any long attempt had better be a short-term counter trend trade as the next bear market has started. 😎

  5. arthurk

    EW suggests that wave IV equals II, so that implies about a 270 pt drop in SPX to about 1750. This could occur over a s/t crash, or in two legs 1850, xmas rally, then 1750. You are right about wave V, which would 2100-2200 depending on how long it takes.

    I really don’t believe in either EW or cycles, but look at them as a measure of market psychology – if enough people believe it, it becomes self-fulfiling.

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