ajtj's Post-Lobotomy Market Charts and Thoughts Message Board

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Strategies & Market Trends : ajtj's Post-Lobotomy Market Charts and Thoughts

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towerdog

To: towerdog who wrote (74396)	12/5/2022 4:45:23 PM
From: Lee Lichterman III	1 Recommendation of 97962

Nothing wrong with that. I'm already seeing people, especially bears, saying the top is in, the 200 DMA rejected the rally, the trendline held etc after one down day. Yes today was ugly and I have a TON of respect for the harmonic system but I want some confirmation before I'm willing to say the next downleg has started. I've seen this market do more headfakes this year than I can ever recall. Hopium is addictive so I wouldn't be surprised if they didn't ramp it at least one more time to sucker more in before they pull the plug. I honestly don't know. Like I said before, I could make the case for a bullish couple months. People still have savings, jobs and companies are hiking prices almost keeping up with higher costs. Earnings and spending may not collapse until the next quarter or two. In the meantime though, the Fed will be draining taking the punchbowl away and at some point, everyone will be thirsty and realize it's gone.

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