Badmofo's Stock Chat

I've just been watching the market...

It's struggling here. Everywhere I look I see things rolling over.

I'm forecasting serious downside drops starting today or Monday. There's going to be some real panic by the media next week. I think the market is about DONE - possibly for years - at this juncture.

Peace - and good trading.

What a week.

I'm fairly certain we have started a minor wave 3 down. I'm relying mostly on channel work.

Here's a chart - looks like most everyone is confused at this point.... EWI, Tony Caldaro, Kenny.... Just pointing out my interpretation.

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Been a while folks.

This may be my last post for quite some time. Some things I'm seeing in the charts align with the most bearish of views.

It's not just the fact that we slammed against 10700 and fell like a rock. This 80 year resistance line has *killed* this rally. The rally was fueled by optimism and extreme irrationality. It was expected, has run it's course. It's time to get set for some of the nastiest, most brutal, stock market declines this country has faced.

I do NOT believe EWI ha… Continue

No charts today. Just some quick comments.

First, my long term channel has *yet* to be broken to the upside. So far, it looks like the market is retreating from it, even though we had a marginally new high.

Second, sentiment is completely BULLISH across the board, and continues to go higher in the bull category. Again, not the best time to buy stocks - when overbought and at extremely high levels of sentiment. Remember how high BEARISH sentiment was at the bottom? It works both ways, most of t… Continue

$XII has broken resistance (538+) and is currently above it. It looks like 5 waves up from mid-December... which could be a stopping point.

DOW broke to the upside as well to make a new high. 10550 breaking and holding is bullish.

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