Did the SP500 just tell me the Market topped on Friday.

OP
OP
Dan Óg

Dan Óg

Ui Máine
Staff member
Moderator
Donator
PI Member
Joined
Oct 31, 2015
Threads
78
Messages
11,837
Likes
5,996
#73
Looking at the D1 chart it is obviously well bellow the cloud. The averages point to the start of a cross of death (probably meaningless) but there is divergence as the momentum is pointing up and the RSI is still down.

As an aside, I have a few sells on the gold around the 1220 level. I think they might go tits-up. Only 0.03 lot sizes, but still a kick in the cobblers. View attachment 3594
Why would you or anyone be selling gold when we could be about to witness a financial crisis of epic proportions. Granted the markets might hold but it does not look like it. Another leg down and gold will surely click as it is the bond market that has been given the kiss of life to up to this, but the bond market itself has been selling off, which a tually began the stock sell off to begin with.
 
OP
OP
Dan Óg

Dan Óg

Ui Máine
Staff member
Moderator
Donator
PI Member
Joined
Oct 31, 2015
Threads
78
Messages
11,837
Likes
5,996
#74
Tadge expecting the market to rise increases my belief that it is about to crash.
 
Joined
Oct 30, 2015
Threads
4
Messages
5,193
Likes
690
Location
Censored zone of Political Irish
#75
Why would you or anyone be selling gold when we could be about to witness a financial crisis of epic proportions. Granted the markets might hold but it does not look like it. Another leg down and gold will surely click as it is the bond market that has been given the kiss of life to up to this, but the bond market itself has been selling off, which a tually began the stock sell off to begin with.
That song about gold goes around for years now. Plenty of fools fell for it....
 

Tadhg Gaelach

Donator
Premium Account
PI Member
Joined
Jan 14, 2016
Threads
1,221
Messages
31,125
Likes
29,611
#78
Looking at the D1 chart it is obviously well bellow the cloud. The averages point to the start of a cross of death (probably meaningless) but there is divergence as the momentum is pointing up and the RSI is still down.

As an aside, I have a few sells on the gold around the 1220 level. I think they might go tits-up. Only 0.03 lot sizes, but still a kick in the cobblers. View attachment 3594

2600 is a pretty strong support level on SP500. The support zone goes all the way down to 2530 then. Ichimoku won't really tell you anything about where its at now.
 

Tadhg Gaelach

Donator
Premium Account
PI Member
Joined
Jan 14, 2016
Threads
1,221
Messages
31,125
Likes
29,611
#79
Tadge expecting the market to rise increases my belief that it is about to crash.
Actually that's what I do expect, but I won't be buying until the night of the Midterms. I hope it goes down a good bit more so I can buy more cheaply.
 

Tadhg Gaelach

Donator
Premium Account
PI Member
Joined
Jan 14, 2016
Threads
1,221
Messages
31,125
Likes
29,611
#80
Why would you or anyone be selling gold when we could be about to witness a financial crisis of epic proportions. Granted the markets might hold but it does not look like it. Another leg down and gold will surely click as it is the bond market that has been given the kiss of life to up to this, but the bond market itself has been selling off, which a tually began the stock sell off to begin with.

But if bond yields are rising, why bother to buy gold? Short end risk free Treasuries are looking pretty good at the moment.
 

Tadhg Gaelach

Donator
Premium Account
PI Member
Joined
Jan 14, 2016
Threads
1,221
Messages
31,125
Likes
29,611
#81
I hope you bought the real stuff and keep it at home. The rest is just paper- there is more paper around than real stuff. When push comes to shove, you are on the loosing side....

You are a Reality Fetishist.
 
OP
OP
Dan Óg

Dan Óg

Ui Máine
Staff member
Moderator
Donator
PI Member
Joined
Oct 31, 2015
Threads
78
Messages
11,837
Likes
5,996
#82
But if bond yields are rising, why bother to buy gold? Short end risk free Treasuries are looking pretty good at the moment.
They are not risk free, they are crashing in value.
 
OP
OP
Dan Óg

Dan Óg

Ui Máine
Staff member
Moderator
Donator
PI Member
Joined
Oct 31, 2015
Threads
78
Messages
11,837
Likes
5,996
#83
I hope you bought the real stuff and keep it at home. The rest is just paper- there is more paper around than real stuff. When push comes to shove, you are on the loosing side....
That is correct, the real stuff. I do not own an ETF fund like SLV .
I do own stocks also and now even have some Call options so I need a rapid rise and I need it quickly before January in fact.
 

Tadhg Gaelach

Donator
Premium Account
PI Member
Joined
Jan 14, 2016
Threads
1,221
Messages
31,125
Likes
29,611
#84
They are not risk free, they are crashing in value.
Sure, but if you buy a three month, or a two year, unless some disaster happens to you, you'll be able to hold it until maturity and then you get back what you paid, plus the coupon. In that sense it's risk free.
 
Top Bottom