Courtesy of Read the Ticker.
Today the market has fallen 27 pts (so far) on the SP500, it looks like a machine off day!
Here are some charts from our private RTT Plus blog over the past two months.
The Golden Ratio is very good in picking price judder bars when a market is in new ground and has no resistance.
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Maybe the realisation TRUMP plans may take a little longer than expected, we may see a similar price action to Reagan first year. Or maybe its just the ECB talking of higher rates with all the banking issues they have, and how the many legs of the octopus may reach the US banks derivative books. (Note: Banks are selling off hard, just after a period of large insider selling by bank bosses)
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Or course we all have seen topping patterns before, wide range up into new ground to bring in the uniformed, wide range down as the informed distribute to the uniformed.
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NOTE: readtheticker.com does allow users to load objects and text on charts, however some annotations are by a free third party image tool named Paint.net
Investing Quote…
..” If you cannot make money out of the leading active issues, you are not going to make money out of the stock market as a whole”..
Jesse Livermore Trading Rule
..”Markets are constantly in a state of uncertainty and flux and money is made by discounting the obvious and betting on the unexpected”..
George Soros
..”If you have trouble imagining a 20% loss in the stock market, you shouldn’t be in stocks”..
John (Jack) Bogle
..”October: This is one of the peculiarly dangerous months to speculate in stocks. The others are July, January, September, April, November, May, March, June, December, August and February.”..
Mark Twain
..”If past history was all there was to the game, the richest people would be librarians”..
Warren Buffett
