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Freak Out Now Before It’s Too Late

Wall Street loves to tell you not to panic when the time comes to sell everything. To them panic means sell. But the truth is, panic is like a deer frozen in the headlights. Just before it gets run over by the oncoming 18 wheeler at speeding along at 80 miles an hour on I-80 as it flees west across New Jersey making its escape from New York.

That’s what this market will do if you freeze now. It will run you over.

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We’ve had plenty of warning. The propitious time to act on the oncoming danger has passed. But it’s not ok to panic and freeze now. Because this is likely to get much worse in the coming months. Any rallies are unlikely to get back to where we will be at the high of the day today, whether that’s on the New York open, or sometime later.

Cycles-  If the weakness persists, 10-12 month cycle indicators could signal a xxxxxxxxx xxxxxxx to the up phase this week, with an xxxxxxxxx xxxxxxxxx xxxxxxxxxx phase likely. Conversely, a rebound this week would suggest that the 10-12 month cycle xxxxx  xxxxxxxxxx xxxxxxxx xxxxxxxxx. Non subscribers click here to access.

A 6 month cycle top window xxxx xxxxx. A continuation of the decline from here would signal a xxxxx. A recovery above xxxx this week would suggest that xxxxxx xxxxxxx xxxxxxxxxxxxxxxx xx xxx. Non subscribers click here to access.

Third Rail Channels –  Friday’s selloff set up a crash channel. The top line starts at xxxx on Monday, and ends near xxxxx on Friday. The market would need to break that to end the crash threat. Non subscribers click here to access.

If support lines around xxxx break, then the next target would immediately be xxxx, and below that, xxxx. Non subscribers click here to access.

Long Term Weekly Chart –  Last week’s selloff keeps the major downtrend channel xxxxxx xxxxxx xxxxxxxx. Resistance has held. Long term indicators remain on the xxxxx xxxx. xxxx is downtrending support this week. If it holds, then another rally attempt should be forthcoming. But if it does not hold, the target would be the xxxxxxxx area, quickly. Non subscribers click here to access.

Monthly Chart – August ending below xxxx would set up a downtrend channel for September onward.  Failing to clear xxxx at the end of August would allow for a drop to trend support around xxxx. The bottom of the new downtrend channel would be at xxxx in September. Non subscribers click here to access. 

Cycle Screening Measures –   The cycle screening aggregate was weak last week, but surprisingly, not as weak as Friday’s carnage would suggest. It leaves a mixed bag that, on the whole, suggests that there’s xxxxxxxx xxxxxxx xxxxxxxx xxxxx in the process of xxxxxx xxxxxxxx xxxxxxxx xxxxxxxx. On the other hand, the liquidity situation is dire, which suggests that this time will be different. A rebound on Monday would suggest xxx xxxxx xxxxxx xxxxx, while a continuation of the selloff would suggest xxxxxxxxx xxxxxx xxxxxxx. Non subscribers click here to access.

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These reports are not investment advice. They are for informational purposes, intended for an audience of investment and trading professionals, and other experienced investors and traders. Chart pick performance changes week to week and past performance may not indicate future results, as you know. Trading involves risk, and these reports assume that you understand those risks and manage them according to your tolerance. 

Posted in 2 - Technical Trader
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