At 1AM ET I watch as ASIA self destruct .Back in Feb/March as Apple was headed for $1000 and the Emerging markets were going to carry the World and any sell off, I scoffed.This chart I made in Feb had a 144 TDL in May 24th is close enough.
The other reason I post this chart is I just heard DR DOOM ( Mark Farber) compare this May with May 2011 ( yellow dots) Mark says not to short this market because he believes we will have a big run higher like June 2011. His target is 1370/1400.
May 2011 we dropped 60 points and May 2012 111 pts so far, if the ST low is in here. basically dropping twice as fast. Until we have a rally we are in no man's
land support 1292 then a wave failure at 1267.
I lost a few calls but LT bearish ETF working.I know I said a few pages back when this starts it will be fast, but always suprising just the same.
Jerry O
No comments:
Post a Comment
Note: Only a member of this blog may post a comment.