Imminent and severe market correction

[OK2]

go for it tech/a. I wanted to question some of the beans comments lately but did not feel qualified to criticise another user in the forum. I still enjoy the diverse assessments of world markets by all users when they support their comments.

 

[nizar]

The only thing we will know for certain are the closing prices.

And the trend.
If closed flat its possible that it was 100pts up at a stage but then got dumped, or 100pts down at a stage and punters saw it as a buying opportunity.

 

[Uncle Festivus]

Well, 6 weeks later and it's neither imminent or severe. Move along please, nothing to see here (the policeman said as he stood in front of the blazing fireworks factory).

 

[Kimosabi]

Well, 6 weeks later and it's neither imminent or severe. Move along please, nothing to see here (the policeman said as he stood in front of the blazing fireworks factory).

haha, now that we've got to this point, the Dow will probably be down 1000 points tonight...

 

[Uncle Festivus]

haha, now that we've got to this point, the Dow will probably be down 1000 points tonight...

Dunno. I really can't see anything that is going to rock the boat soon. Central banks used the last correction as a rehearsal for any subsequent attempts at corrections; besides, if you have unlimited amounts of money at your disposal would you be worried? I think gold is looking pretty sick in these conditions too, you could say it's a has Bean .

 

[bean]

That sort of retractment tonight would be enough to turn a few of those US Indexes I mentioned BEARISH.
(The Nasdaq for example would drop 2% plus easy in the blink of an eye)
And would possibly make it to hard for the DOW to pull them back up.

This is tongue in cheek---isnt it.

No With technical you should maybe look into the various components and analysis market movements believe it or not some markets move to % at a particular time frame or span. Technical analysis may also be looking at specific things over certain time frame (throw in a variable or two) Moving averages?? I use them so what. I also use other variables (could be price related to time) why does everything have to be uniformed quite easy to have a deviation that you would not pick up.
I give all variables/technical/averages a number the value of that depends on its importance its relevance in time.
Nasdaq
I suppose you have done technical analysis on it what would two days down do to it.

Mine depending on the size of the move (I know one day would be greater than 2% because of values I get back) To prove it I need two days down at this point in time and one day will be 2% or more I may only need one day.

Who knows two down days in a row and the rest would turn BEARISH
technically speaking.
And the DOW flattened

Technically speaking---perhaps you could expand on your definition of a technical confirmation that a market (any market) has turned bearish.
Particularly after a 2 day move.

Using the above as I said I values – Nasdaq has been correcting and weakening since 26th April - so guess what I only need two days down. If it had strength it would take more than two days maybe three or four.
Why do you think I have been mentioning the Nasdaq all the time
Is closing price on the 26th April 2554
Today 2547
Does it take a rocket scientist
Thats why why i also look a price in relation to time

But just have to wait and see as I said if the DOW rises and pulls the others with it I may turn BULLISH

Perhaps you could also expand on technical bullish qualifications.

Bull is when you may enter certain values and the trend (as in opposite to he trend) does not change (if the trend is up) Bear is the same.
More would also relate to values they have the higher the plus value the stronger the trend vise versa
Anyway time will tell

Will know tonight and tomorrow night.

The only thing we will know for certain are the closing prices.

TRUE
But I have also been looking for this correction in Gold to include the markets

 

[bean]

This is tongue in cheek---isnt it.
Technically speaking---perhaps you could expand on your definition of a technical confirmation that a market (any market) has turned bearish.
Particularly after a 2 day move.


Perhaps you could also expand on technical bullish qualifications.

The only thing we will know for certain are the closing prices.

Sorry forgot to highlight the quotes in my response

 

[>Apocalypto<]

This is tongue in cheek---isnt it.



Technically speaking---perhaps you could expand on your definition of a technical confirmation that a market (any market) has turned bearish.
Particularly after a 2 day move.



Perhaps you could also expand on technical bullish qualifications.



The only thing we will know for certain are the closing prices.

Tech as per norm your post is music to my ears.

I don't even bother asking for technical proof in this topic any more as it's all fear mongering.

Yes people we will have another correction and I think sooner then later due to the current angle of the dow value. but will it be the end of the bull I lean towards a no unless all supports are broken and economies crumble.

Hey Tech after our next major correction will that start a final wave 5, or are moving into a wave three in the overall picture in this trend? do you call may a wave 2 or April 05 a wave 2?

 

[bean]

I have made up various programs on DOW US markets and gold etc.
The DOW has been Up, its short term trend up. I have been saying the DOW in a final blowoff. I have aslo said the NASDAQ above 2550 will be back in bubble territory. 2554 yesterday and 2557 today.

The DOW may rise but the NASDAQ ? The DOW may carry the NASDAQ higher?

Oh look I mentioned the Nasdaq in my post tonight here is my post from the 28th April
Question me if you want but there you have it

 

[>Apocalypto<]

Using the above as I said I values – Nasdaq has been correcting and weakening since 26th April - so guess what I only need two days down. If it had strength it would take more than two days maybe three or four.
Why do you think I have been mentioning the Nasdaq all the time
Is closing price on the 26th April 2554
Today 2547
Does it take a rocket scientist
Thats why why i also look a price in relation to time. from Bean

Bean,

The Nazz has been weakening from May not 26 of april see chart. Yes it is weaking quicker then the dow.

Now it does look weak on the short term but where in that chart can u tell me it will plunge 200 points in a period and then drag the us market with it.

I see a healthy trend getting ready to do a normal part of its cycle I have placed two fibbs with support line with healthy retracements to 38% breakaway trend. 38% & 50% main trend line.

So as you see lots of healthy room to move with out us being able to call the end.

I may be way off what your saying bean i am damn sleepy now.

What i am say is there is no real proof on the chart to say 200 in a period and just from two days action! Two days will never make a market!

(If it's there please show me what it is I can't see)

see pdf chart

 

[>Apocalypto<]

go for it tech/a. I wanted to question some of the beans comments lately but did not feel qualified to criticise another user in the forum. I still enjoy the diverse assessments of world markets by all users when they support their comments.

If you see a hole in any ones post and you can raise a constructive objection with out getting personal.

Then you have all the right OK2, don't worry about the post number next to their nick.

Please it is the only way we can learn!

 

[bean]

Bean,

The Nazz has been weakening from May not 26 of april see chart. Yes it is weaking quicker then the dow.

Now it does look weak on the short term but where in that chart can u tell me it will plunge 200 points in a period and then drag the us market with it.

I see a healthy trend getting ready to do a normal part of its cycle I have placed two fibbs with support line with healthy retracements to 38% breakaway trend. 38% & 50% main trend line.

So as you see lots of healthy room to move with out us being able to call the end.

I may be way off what your saying bean i am damn sleepy now.

What i am say is there is no real proof on the chart to say 200 in a period and just from two days action! Two days will never make a market!

(If it's there please show me what it is I can't see)

see pdf chart

10 day a/d less than 1.00 since 26 th april
New highs / lows since then
adv vol/declne vol
all been decreasing and on number of occassion bwlow 1.00
a dow day of signifiance bring thenm down to 0.75 or less

 

[bean]

Should also State that the above is in all other US markets from the same date.
The only one i cannot analysis is the DOW - 30 stocks!!!
That why I called the top back then and also 9th may as final top.
Because every market in the US is *#*#

They are all held up by the DOW.

Every market will go to very low readings if two down days occour.
I also use other variables and different time frames
I also believe US markets lead the world and thats why I follow them

 

[nizar]

I also believe US markets lead the world and thats why I follow them

Well they certainly havent been leading us in this bullmarket.
Our indices are more resource and miner-weighted.

Look at DOW versus XAO since 2003 until present.

 

[Wysiwyg]

Should also State that the above is in all other US markets from the same date.
The only one i cannot analysis is the DOW - 30 stocks!!!
That why I called the top back then and also 9th may as final top.
Because every market in the US is *#*#

They are all held up by the DOW.

Every market will go to very low readings if two down days occour.
I also use other variables and different time frames
I also believe US markets lead the world and thats why I follow them

Hi bean...I notice you make predictions on U.S. market movements!

`bout as good as my oil price predictions lol.

 

[bean]

Hi bean...I notice you make predictions on U.S. market movements!

My worst mistake was using my program an exiting on 6/6/01
I had gold stocks

 

[bean]

sorry 6th sept

 

[Wysiwyg]

I`ll tell ya what though fella , a lotta my watch-list stock have been on the crab or slight decline.:kebab

 

[bean]

I should be asleep Tassie time. Why am I a still awake to answer and prove that I am right.
I know that I will not be right a lot of the time and you want answers.
I give a few but why should I give you what has taken me years and hours to find.
A lot of analysis you use I don't one number can give me the answer.
I have posted on several threads.
TOE (TORO) was I wrong in any of my anaylisis. Sorry I made a profit I hope thos that read did as well.
I now pick on world markets a little challenge.
Believe me the US markets control the world.
To understand watch

 

[Uncle Festivus]

Bean, I think your problem is that you don't post a chart or similar explaining things for the technical analysts here to give them comfort. At the same time it's a bold move to say the market will tank because 'of my indicators'. I can actually see a valid point in your advance decline ratios too; the markets are up but the a/d is usually telling another story.

The fact is, nobody knows with certaintly if it will tank massivly or when, so be prepared and take it as it comes. Who's going to blink first - the US Fed (Goldman Sachs) or the Chinese Fed (the Commies) - both have unlimited financial armour at their disposal. Protectionist wars still percolating!

Edit - actually some things starting to move now - copper & gold are getting hammered, oil up $2, and the Dow has just hit 'a big number' - 13500 (Nasdaq & SP500 down & flat). I wouldn't be surprised to see a 'Black Friday' correction day tomorrow?

Chinese copper inventories announced today I think.

"The U.S. housing permits were bearish on Wednesday, and there is a lot of speculation that Chinese buying will slow -- expectations are for another sizeable rise in warehouse stocks in Shanghai on Friday,"