Are Stocks About To Pop or Drop? (Chart Pattern) What do you think? By Gregory Mannarino
OK, so this is what we have.
At the time I am writing this article the stock market is in Rally mode on the back of a falling dollar and rising crude oil prices.
Have a look at this chart below, I find this particular pattern circled on the right to be interesting.
What do you think?
Pop or Drop?
Gregory Mannarino
Gap fill completing H&S then CRASH.
Indeed just what is was thinking. We made a lower low, and if we now make a lower high - trend should be bearish moving forward.
Even if we make a high at the 2400 level, it will still be neither bullish nor bearish but uncertain again.
Check out my blog if you want boys, i do analysis like this as well.
Peace.
If I could print all the dollars I want out of thin air, knowing it's going to Crash, wouldn't I be buying up every Stock I could get my greedy little hands on...???
@pocketechange
If memory serves, I believe the US Gov has been bailed out twice since existence. Once for sure, it was bailed out by JP Morgan. THE JP Morgan. We're seeing something very ominous taking place. JPM holds a huge amount of silver and possibly gold. Could it be what we are witnessing is a direct affront towards capitalism and our way of life? The gov has put so much fiat money out there, our debt is bigger than any public company, bigger than anyone entity but the IMF to bail out? You look at the tech sector alone, the tech revolution is still very young, could the tech rev be too big to fail? Everybody has some form of reliance upon technology. If it goes down, the world stops for a bit. The changes occuring are new and uncharted and happening very rapidly. Its difficult to understand and see the end game other than one true world order on a global scale. For that to occur, the US must be reliant?
Yeah, I was just going to point-out - there are some MAJOR gaps going on there.
I am not a chart gal -- but I quite remember seeing the same chart everyday I read the newspaper. Then in 2006ish - 2007, the lines switched places (inverted -- yeah I learned this word after the fact). If I had not seen the pattern change, I would have proceeded with a deal that would have had me 1.9 million in bankruptcy.
This was not a time period I wish to re-experience. The 1980's were nothing compared to this:
http://www.cbpp.org/research/economy/chart-book-the-legacy-of-the-great-recession
I also say to become your own Central Bank... There isn't much risk in getting your hands on a little Pocket Change... I just bought 2,000 Nickels on Saturday for a 100 dollar, Federal Reserve (Debt) Note...
@pocketechange
Yes good idea holding coinage as it is produced by the mint and not the federal reserve. Be careful what you buy as it will only be worth scrap value. Look into getting war Nickels 1942-1945. These contain 35% silver which is your true store of wealth and obviously you becoming your own central bank.
I have more war nickels than anyone I know... I have it all, including Common Coinage that will increase in buying power when the Paper and Digital Fiat Dollars crash... It's not the melt value of the metal, just like it's not the Paper value of our Debt Notes...
@pocketechange
Thanks. I will followup on this one.
You are appreciated.
I feel the same way. It's very similar. Yes, it's time to be your own Central Bank.
They want this pony show to go on as long as possible and then they will bring it down when THEY are ready. I think they will go up a SMALL bit more before they drop. I Think of the 1988 economist magazine with the Phoenix rising from a pile of ashes and a gold medallion with the year 2018 in big numbers. I think they need to keep this casino going IF POSSIBLE until then. UNLESS THEY BRING IT DOWN EARLIER AS AMO TO BRING DOWN TRUMP. However I do not believe Trump can be brought down. He will serve two terms. Thanks for the post. What do others thing. Would love to know.
In 2015, Greg Hunter kept asking every guest if that was the yearthat the crash would happen....pretty much everyone said yes. It didn't happen. Why? Because of the reason you have given. 'They' were not ready!!
As for Trump, I really don't know about 2 terms. He's really up against it. How can one man fight so many? He needs to get reinforcements into the White House ASAP and drop some truth bombs!!!
I listen to Greg Hunter and have high respect for him. I agree that Trump does need to drop some truth bombs. I believe as Trey Smith (Youtube) believes that is was given to us by God as our LAST and final hope for America. God Biblicly has used the least able folks to make them His spokesperson. Abraham could not speak well and God used him. Of the 12 disciples on Judas was the most qualified. So too may be Trump. He comes across as a clown and un-presidential yet some think he is sounding the Trumpet and shining light on the evil of this country. Thanks for the great reply. - Troy
Pocket Change will rise out of a pile of Federal Reserve (Debt) Note ashes...
@pocketechange
Interesting perspective. You may be on to something. Again thanks.
Not pocket change - - - Bitcoin.
Anything can happen for sure, but based on my analysis it is going higher and likely to make a new high
Anything could happen for sure. I am still kind of thinking this may be a dead cat bounce. It seems on the hourly we are reaching "overbought" territory, The Macd seems to be topping. Maybe just a pull back (consolidation) before a move higher? I am net short this market but I am hedged well enough that a move higher would only give me more to invest on the short side! Trade green!
I bought Puts on the last drop of the SLV. Got the sell signal from watching the COT report and the Evolution System. This was my first options trade, sold too early but the profits from trading options is mind blowing. Thank you @marketreport for educating me/us.
Not sure but I say it may rally a bit and then drop.
Get your hands on a little Pocket Change while it's still one hundred cents on the Fiat Dollar...
@pocketechange
perfect time to buy the dip :D
My concern with that is I do not believe this run-up in crude is sustainable, and we could also see a short term bounce in the dollar. Be ready for anything.
Oil is Abiotic. It is found deeper than any known fossil. It flows upwards from the core where its created via centrifugal forces...depleted oil wells eventually refill. This is why we haven't hit peak oil and why there is an over supply
Oil is also 'dead' due to the changes in technology. Lithium is the new 'oil'
agreed, Baker Hughes new technology , https://www.bakerhughes.com/news-and-media/press-center/press-releases/2017-05-01-baker-hughes-introduces-revolutionary-multistage-fracturing-service-for-deep-water is just example of more cost reduction coming
By holding some Pocket Change, I'm thinking it's the "overlooked" hard asset that will reach Fair Market Value once the Paper and Digital Dollars crash...
@pocketechange
I gotta disagree with your theory on pocket change. I've been thinking about it for a couple of days now - and the majority of it is still FIAT money. Sure, there's some metal value in it - nickel. But, by and large, the rest of it is not made of anything very valuable - not even copper.
So, unless your "pocket change" actually has 40% or 90% silver, as indicated by the right year & mint marks - it's going to be worth it's value in weight, and not much more. What does 1 ton of tin go for on the metals markets? IDK, I don't care - I don't want a ton of tin.
Food rations will be far more valuable that old, useless, FIAT coins - unless they are silver, or MAYBE nickel.
I have my fair share of silver, but the Pocket Change I refer to isn't about the melt value or the value of the metal, just like paper debt notes aren't about the paper having Silver threads... It's more about having a Medium of Exchange that most people have "some" of... When the Paper and Digital Fiat crashes, we'll surely need something most people have in a jar at home...@pocketechange
Just keep tight stops in place. Or hedge the fool out of it.
I am biased to Drop!
let's fill the gap, then a parabolic move on the upside to breakout from the uptrend established since 2009 then the crash will occur! get ready folks!
When the Fiat Paper and Digital Dollars crash, you better hope you have your hands on some Pocket Change...
@pocketechange
pre 64 u.s. change and pre 68 canadian change ;-) and a pocket full of shells
Personally I have never understood any of the market action since last November!
Just more stealth QE