5 thoughts on “CHART OF THE DAY

  1. MuffinTop

    Like I said in the previous post.. You’re thinking ‘megaphone’ but I’m looking at a ‘bullish wedge/flag’ whatchamacallit on a Daily SPY chart, which normally indicates a continuation of the current trend. Today’s fundamentals are backing that up! I’ll call Yellen first thing in the morning to thank her!

    1. gary Post author

      I’ve always thought the Nasdaq was going to at least 5100. Never a doubt about that.

      I was hoping it would be allowed to have natural corrections along the way though. Apparently not. Not with the Humphrey Hawkins address approaching.

  2. TraderPL

    Hi , following you here and on Kerr Report, great info.
    Question : I am confused, if the powers that be can abort, how can you be confident that the YCL or any CL for that matter will happen , this month, this year.
    Can they not just keep stick saving/aborting the CL event you forcast.

    1. gary Post author

      Eventually the market will correct. They always do. You just can’t sell short hoping that the market will do it in the natural timing band. Selling short just isn’t a viable strategy in a market that the Fed is actively protecting.

      If I think the market is likely to correct then I just go to cash. Whenever it does correct then I buy. But I never sell short.

  3. Roy

    “It’s always time for Plunge Pro-tect-tion Team!” It even works to the tune of “there’s always time for J-E-L-L-O”. Try it. Kind of catchy.

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