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:

  1. Any chance of a TNX:SILVER chart update?

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

    ReplyDelete
  3. 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.

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

    http://screencast.com/t/UPGQc3PACp0

    Point 27?

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

    ReplyDelete
  6. 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.

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

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

    ReplyDelete
  9. 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

    ReplyDelete
  10. Looks like unable to move pass 50days MA.

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

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

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

    ReplyDelete
  14. Gold down Rs 78 in futures trade on weak global cues capitalstars

    ReplyDelete
  15. China isn’t self-sufficient when it comes to its copper needs and is the largest importer of the red metal. Rising Chinese imports signals increasing demand for the metal. capitalstars

    ReplyDelete