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Advisor

SP

Triple witching expiration today.

 

Gravestone doji stands at the top of the recent low volume, pre-fed short squeeze.

 

Too early to call the upward correction confimed but evidence points that way. This would be wave 5 of (1) in the developing major bear market.  Just needs to take out the Aug lows in 5 waves to finish. Then expect a Wave (2) hope rally, and as you know those can be sharp as most still beleive in the old trend. But 3's follow and they are powerful and powered by the destruction of that hope.

 

Should be a turbulent time into year end and not a good environment for commodities in general to find their legs.  Ought to be a major cyclical commodity low out there somewhere in the not-too-distant future.

 

 

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4 Replies
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Veteran Advisor

Re: SP

We're going to change your name to Johnny sunshine !
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Advisor

Re: SP

It's sorta how the chicken guts shook out.

 

The bull will have his day again, someday, but no point trying to get on him before he's ready.

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Honored Advisor

Re: SP

Especially if you drop them from a helicopter,  

 

" I thought turkeys could fly"

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Esteemed Advisor

Re: SP

Well said Mr. Knox sir.

Paper is way over-valued. All the King's men won't be able to keep it up forever.