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Strategies & Market Trends : ajtj's Post-Lobotomy Market Charts and Thoughts -- Ignore unavailable to you. Want to Upgrade?

To: Qone0 who wrote (43974)	11/19/2021 9:52:18 AM
From: ajtj99	Read Replies (1) \| Respond to of 97556

What odds do you give Scott's 3.14 target for the NQ's?

To: Qone0 who wrote (43974)	11/19/2021 10:13:25 AM
From: Sun Tzu	2 Recommendations Recommended By ajtj99 Lee Lichterman III Read Replies (1) \| Respond to of 97556

I still think that crab will turn into a deep crab before the end of the world :) Perhaps on a daily chart. People were calling the dot-com a bubble starting in 1997. Then in 1998 we had a dip and every bear rushed to short it. I distinctly remember Art Cashin saying during the summer of 1998 that it (the bear market) has started and it is going to be big. But of course it wasn't and 1999 proved it extra so. By the time the peak came, most bear were too scared to short. All of them had been discredited so badly for crying wolf that none dared to show his face. CNBC announced that they would not care to interview any bears because even if they are right now, a 20% drop would still bring the market above where they said ti was a bubble. And this is of course how bubbles burst. The current bubble is not in the stock market or even in tech stocks (excluding EV). The real bubble is in the bonds and in USD. Everyone is calling for the end of the bond market, and the bubble will not burst until they are all ridiculed. BTW, when the dot-bomb bubble blasted, many bears rushed to collect the pieces only to be killed with the successive waves of drops. The real bottom was reached when the market was too boring and nobody cared about it. Which is how long term bottoms are always formed. It is always the people and the sentiment, not the valuations or the technicals. Those are just windows into the psyche of the market participants. PS Closed the long position at 16610 - that is likely the high for the day - but what the heck do I know. PPS Premarket the force index showed 2 extremely successively lower lows (for premarket) and since then we've had two successively higher highs at even greater extremes. I am reading this as a sign that we have seen the highs of the day, and likely the lows too.