I tried. I honestly tried. Most of you believe me. Some of you don’t. But the power of Bear Force One, as tracked by our own Event Markers feature, is no longer in dispute, even by the most skeptical scientists and metaphysicists.
Only days ago, I was still getting some real skepticism about the power of the forthcoming boarding pass.
And, as one last, loud, bold announcement, I put forth the following:
Only to be answered by realists and naysayers:
Rational analysts? Who? Like THIS guy? He makes Cramer look like a genius:
In any case, the arrow marks the point of my obnoxious pronouncement. The follow-through speaks for itself. I would add that we are several light years away from The Bottom.
Short-term, the numb-nuts which constitute 99.999999999% of the trading public will continue to try to “buy the dip” and, ultimately, fail. Here, on the /NQ, is the next meaningful support. As sure as I’ve got three underutilized balls, this, too, will be broken.
The last holdout remains crude oil which, once it goes, will supercharge the collapse.
I am typing this a little more than an hour before the opening bell. The bottom last night was about 14 points on the /ES beneath where we are right now, so the buyers are clearly out shopping. Wiggle and waggle though it may, the market will soon enough come fully my way.
