10 thoughts on “CHART OF THE DAY

  1. Ken

    I see a top being made in the S&P and the Dow. I think I will be an idiot and get some shorts on immediately.

    1. gary Post author

      People have been seeing that top for 6 years.

      You can light your hair on fire and run through the dynamite factory. You may even get lucky and survive…but you’re still an idiot.

      There’s no need to take risky trades like shorting a Fed protected stock market when the easy and big money will be made by just waiting for the next ICL.

      Of course most traders are really just gamblers so they take stupid trades like shorting stocks.

  2. mark crawford


    I agree its idiotic to short this market as long as the FED in charge. What is your ICL target, 2040?? or lower?

    1. gary Post author

      Normally I would look for a 50-62% Fibonacci retracement, but with the fed backstopping the market it may stop at 38%.

      1. Crawford

        All time close was 2117 and we are at 2110 – we are entering the danger zone for sure.

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