MrJohnRoss' Account Talk

[MrJohnRoss]

One year chart of the S&P. The last time we had a break in a major, long term channel was last Oct, when the S&P broke the uptrend and fell from 1471 to 1343, or about 9% (first blue box). I can't predict how far we might fall this time, or even if we will, but humor me for this post. If we DID follow suit, and the market falls in a similar fashion, a 9% drop from the 1597 area would put us around 1458 (second blue box).

Last year's rally took the S&P from 1267 to 1471, which is roughly 16%. The correction took 56% of that rally away.

This year's rally took the S&P from 1343 to 1597, which is about 19%. Could we lose 56% of these gains? I think it's very possible.

The other thing I noticed was the huge, gradual change in the PPO (bottom window), as it has arced up from last November's low, peaked, and is now heading down rather steeply. I've accentuated it with the blue arcing line so it's easier to see the trend I'm talking about. The PPO tends to be a longer term indicator unlike the Stochastic, which is a shorter term indicator (which is also down, by the way).

All in all, it appears to me that the market is going to want to go lower from here. The old adage "Sell in May and go away" may be coming true a little early this year.

Good luck!

View attachment 23451

 

[Sensei]

Is it just me, or is the chart gone now?

 

[RealMoneyIssues]

Is it just me, or is the chart gone now?

It's just you...

It looks like attachments aren't working very well...

 

[tsptalk]

Is it just me, or is the chart gone now?

After the unsuccessful upgrade, we had to restore the database and the files back, and the files went back to early (1 AM) Saturday morning. Any attachments made between that time and early Sunday morning probably disappeared.

Nice upgrade, huh? Sorry about that. I'll see if I can find a back up with those attachments, but it's not likely.

 

[MrJohnRoss]

After the unsuccessful upgrade, we had to restore the database and the files back, and the files went back to early (1 AM) Saturday morning. Any attachments made between that time and early Sunday morning probably disappeared.

Nice upgrade, huh? Sorry about that. I'll see if I can find a back up with those attachments, but it's not likely.

Well daymn. I'll see if I can repost those charts.

 

[MrJohnRoss]

After the unsuccessful upgrade, we had to restore the database and the files back, and the files went back to early (1 AM) Saturday morning. Any attachments made between that time and early Sunday morning probably disappeared.

Nice upgrade, huh? Sorry about that. I'll see if I can find a back up with those attachments, but it's not likely.

The charts I posted earlier are back on line. Thank you, Tom, for getting them back up.

 

[MrJohnRoss]

O0O0ps! Did someone let the cat out of the bag? Dow drops -166 points in a flash. Big sell program getting ready to hit the market?

 

[RealMoneyIssues]

O0O0ps! Did someone let the cat out of the bag? Big sell program getting ready to hit the market?

It did seem really easy to go down, and very quick to go up... I guess the HFT are pissed because their sell number was triggered...

 

[Mcqlives]

O0O0ps! Did someone let the cat out of the bag? Dow drops -166 points in a flash. Big sell program getting ready to hit the market?

View attachment 23485

AP's twitter feed was hacked and someone twitted a press release saying the white house was hit.

 

[MrJohnRoss]

AP's twitter feed was hacked and someone twitted a press release saying the white house was hit.

Ummm... wouldn't the spike go the other direction?

Lol.

 

[RealMoneyIssues]

Ummm... wouldn't the spike go the other direction?

Lol.

Be nice, we love our beloved President...

 

[Birchtree]

RMI,

Please take that mouse out of your pocket - speak for yourself.

 

[MrJohnRoss]

That's what she said. :toung:

 

[Mcqlives]

RMI,

Please take that mouse out of your pocket - speak for yourself.

RMI only said that because he knows most of us are identified as extremists who wish to avoid paying excessive taxes and are therefore being actively monitored by the super secret police

 

[RealMoneyIssues]

RMI only said that because he knows most of us are identified as extremists who wish to avoid paying excessive taxes and are therefore being actively monitored by the super secret police

LOL, thats me... mwahahahahahhahahaha

 

[MrJohnRoss]

Hourly chart of the S&P. Looks like we might have formed a short term top in the market, and a double top. We now have a reversal bar. If you're brave, this may be a good time to take a look at a short position in either TZA or SRTY in your brokerage account.



Good luck!

 

[MrJohnRoss]

Hourly chart of SRTY. My buy price ~ $23.28.



Good luck!

 

[coolhand]

Good luck with SRTY John. I think this will be a good trade for you.

 

[sniper]

good luck, i bought TZA near the close as well. looks like the russell once again bounced off upper resistance, looks like a triple top.

 

[MrJohnRoss]

Good luck with SRTY John. I think this will be a good trade for you.

Thanks Jim. There is risk with tomorrow's GDP numbers coming out. It could be a catalyst for a major move - in either direction. I'm just trading the charts, and they appear to be showing that the odds are tilted in my favor.