UPDATED BELOW - Everyone have a great weekend. I'm in cash. I'll put something up if I find anything.
Quick thought. Capitulation - I wanted to be one of the first to say it. Me and a few others believe that the market never truly capitulated in the '08 fall. This means we never truly had panic selling. It was all orderly for the most part. Very heavy, but orderly. This time I believe we will have a capitulation moment if not two. Not now or today, but at some time. I do believe there is a possibility the first leg of this fall will be more severe than the end. If P3 is to be the beast it is supposed to be, I want to offer the possibility that it will be worse on the front end than the back end. The rush for the gates may be so significant that wave 1 will be the worst of the 3 and not 3. No one that held thru the last fall will stay for this one. Many more are ready to get out than last time. I think the rush for the gates has the potential to be tremendous and thus we get true market capitulation.
If you don't have a daily squawk - you gotta hear this. Like ZH says, fat finger my ass. This was a real event. This is what the MSM does not want you to hear. These are paper trades not HFT. Check this out - MUST HEAR: Panic And Loathing From The S&P 500 Pits If you can get into ZH that is. This call is better than anything you will ever hear. "79's are trading" LOL this was classic.
Just some food for thought.
For those asking I am 100% in cash. If I trade it will be for a 1m scalp only based on a 1m chart and that trade could go long or short and will not last longer than 15 minutes most likely. I would not recommend swinging anything over the weekend. Remember stops will not help you much in some of these wild and woolly moves.i am pretty conservative, you do what you think is right, but IMO the risk to either side right now has me on the sidelines.
Big ass triangle? Overthrow or breakout? Is this just a big corrective that leads to lower lows? 30m about to get pretty bullish it looks like. 60m finally turning up. Daily MACD looks bad. Weekly just getting cranked up to the down side. I don't know. Sorry, but I can't make a specific call. Market is to unpredictable. check out the date on the chart ant the time. TOS was messed up this am.
$INDU 1m - you never know these days? LOL Possible H&S on the SPX. This is just totally nuts.UH, NO the market was not down 410 at this time. TOS was all messed up this am.
Sorry I did not post this one yesterday - 5m double triangle apex point. That back line was there. I did not add it after the fact. Chart has not been altered. LOL, I thought the blue wedge was nuts when I first drew it. That would be a throwunder if the wedge was the call.