Hello Steve, still thinking the decline is near, however debating if the potential for a double top on SPX is possible (1220 or so) before getting the decline. What % of probability would you put on this scenario? Thanks for all your great work.....
Your analysis of silver concluded strong sell and -20. Can you comment on the present situation in gold with your indicators? Is it in a similar situation?
I am learning Steve. I had some Dax/Ibex shorts as it all looked weak this morning. I got stopped out by the Bernanke speech bounce. So, I just calmly reloaded and faded the bounce. Those new trades are now in the black, and my stoplosses trades have been covered. Let's see a big red day today, shake up the bulls a bit! Appreciate all the posts.
DJD I'd put odds on double top at 25% now. We are now on our 3rd test of critical support since the I1 top day. After turn dates these tests get progressively weaker bounces and only rarely have there been 4 tests before a break. Nothing's impossible, though.
Hello Steve, still thinking the decline is near, however debating if the potential for a double top on SPX is possible (1220 or so) before getting the decline. What % of probability would you put on this scenario? Thanks for all your great work.....
ReplyDeleteSteve,
ReplyDeleteYour analysis of silver concluded strong sell and -20. Can you comment on the present situation in gold with your indicators? Is it in a similar situation?
Thank you and wonderful blog!
I am learning Steve. I had some Dax/Ibex shorts as it all looked weak this morning. I got stopped out by the Bernanke speech bounce. So, I just calmly reloaded and faded the bounce.
ReplyDeleteThose new trades are now in the black, and my stoplosses trades have been covered. Let's see a big red day today, shake up the bulls a bit!
Appreciate all the posts.
DJD
ReplyDeleteI'd put odds on double top at 25% now. We are now on our 3rd test of critical support since the I1 top day. After turn dates these tests get progressively weaker bounces and only rarely have there been 4 tests before a break.
Nothing's impossible, though.