Fibonacci to markets: sorry, your time is up.

This is it folks, the end of the rally, today is the peak.

Here's why, just a couple of charts, the first one key, the second just to show how weak other markets are.

Complacency abounds, the bulls appear to believe clear blue skies lie ahead, when all I see are storms.

Good luck.







16 comments:

Cha said...

Any chance of a TNX:SILVER chart update?

ssgtrader said...

At least re-test all time high before there is a chance for correction

Gary said...

Possibly ssg, although I would argue that a re-test of the high would itself be the correction, the trend is already down.
Very weak broad rally though.

Gary said...

http://www.tradersdaytrading.com/3-peaks-and-a-domed-house.html

http://screencast.com/t/UPGQc3PACp0

Point 27?

Gary said...

Well, ssgtrader, that was the high re-tested (and failed).
A fun few weeks ahead.

ssgtrader said...

yup I missed by a bit on the high. Was waiting to short at all time high 2120. Anyway long today once market opened and gapped down. Hope to ride it up to around where you said it should turn.

ssgtrader said...

Next logical date that maybe another top is 3rd Dec ... when Feb makes the rate decision.

Gary said...

Top this Friday I reckon,then down hard into month-end.

ssgtrader said...

The fact that the big boys sustained it until this close to end of year, I guess anything big to happen will be in 2016 or very late Dec

ssgtrader said...

Looks like unable to move pass 50days MA.

Gary said...

The big boys have been selling into this rally.
Watch out below into month end.

Unknown said...

C'mon guys. You are killing me, waiting for the next crazy ass post.

Gary said...

I'd love to see a chart-fest from GM at this point.
Hope you're well out there Mr Jenkins.

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