Courtesy of Read the Ticker.
A Richard Wyckoff investor has to make a judgment of where we are in the trend, start, middle or end before they can invest.
Previous Post: SP500 Kitchin Cycle says trouble brewing – Update
Where are we in the current trend ?
From the consolidation (re accumulation) in 2016 we are not at the start, that is easy, so we must be in the middle or near the end. So far we have seen a massive 42% move and on any measure that is huge, and based on the dominate cycle within the SP500 this blog says we are near the end, or in the last move (say 10% if we are lucky) before we get another major consolidation. Nobody knows if the next consolidation will be defined as a reversal or continuation at this stage. Nothing moves in a straight line for ever!
New money into this market is surely high stakes poker. The defensive trades (gold, silver, bonds) all have bases set up for a price move(if SP500 reverses), the question is do market players continue to move money from SP500 to defensive positions.
NOTE: The price chart below with our RTTHurstDPO indicator shows price is conforming to the 900 bar Kitchin cycle.
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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…
..“It cost me millions to learn that another dangerous enemy to a trader is his susceptibility to the urgings of a magnetic personality when plausibly expressed by a brilliant mind.”…
Jesse Livermore
..”Until an hour before the Devil fell, God thought him beautiful in Heaven”..
Arthur Miller, “The Crucible”
[Contrarian Investing]
..”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
..“Successful speculation requires staying on top of changes in industries and companies that either create new industries or improve on existing industries. The majority of your profits will come from these two … The shrewdest traders throughout history all adapted the skill of reactionary change, as the market constantly presents new and different opportunities.”..
Bernard Baruch
The minute you get away from the fundamentals – whether it’s proper technique, work ethic, or mental preparation – the bottom can fall out of your game.
Basketball Legend Michael Jordan.
