tag:blogger.com,1999:blog-947237681666122369.post8354877105269571999..comments2024-03-18T14:37:21.899-10:00Comments on Pretzel Logic's Market Charts and Analysis: SPX Update and More: Market Playing Its Cards Close to the VestPretzelLogichttp://www.blogger.com/profile/11613859771824863784noreply@blogger.comBlogger192125tag:blogger.com,1999:blog-947237681666122369.post-66232038179399411482011-11-09T01:46:53.516-10:002011-11-09T01:46:53.516-10:00Hypothetically, I might be short, yes. I might ha...Hypothetically, I might be short, yes. I might have gotten short right about the time I told Rocky that the top looked like it was in. If I were trading, of course, and not speaking hypothetically. Looking at my hypothetical entry level in my hypothetical trading account, it looks like I am hypothetically short from 1271. Which means I am, hypothetically, a pretty happy camper right now.<br /><br />Future questions please address on the new thread. Hypothetically. ;)PretzelLogichttps://www.blogger.com/profile/11613859771824863784noreply@blogger.comtag:blogger.com,1999:blog-947237681666122369.post-18349859887098919402011-11-09T01:41:36.765-10:002011-11-09T01:41:36.765-10:00btw, whichever anon is posting the fundamental upd...btw, whichever anon is posting the fundamental updates, I really appreciate it. It's hard to watch everything when I'm charting, so these bullet point updates are quite helpful.<br /><br />Tomorrow's update is now posted, so let's move future discussion over to that thread.PretzelLogichttps://www.blogger.com/profile/11613859771824863784noreply@blogger.comtag:blogger.com,1999:blog-947237681666122369.post-68967960724903880292011-11-09T01:40:09.684-10:002011-11-09T01:40:09.684-10:00Pretzel - are you trading these futures right now?...Pretzel - are you trading these futures right now? Hypothetically of course?Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-947237681666122369.post-27062463470532185292011-11-09T01:11:06.985-10:002011-11-09T01:11:06.985-10:00Ifo Q4 Eurozone Economic Climate Index 83.7 Vs. 11...Ifo Q4 Eurozone Economic Climate Index 83.7 Vs. 110.6 In Q3Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-947237681666122369.post-67797764283414803112011-11-09T00:59:53.652-10:002011-11-09T00:59:53.652-10:00Me too, I don't want to count my chickens yet,...Me too, I don't want to count my chickens yet, but my VERY short portfolio is already -2.3% on the day.... Bring it on!<br /><br />Would just love to see the Bulls who were merrily buying 1276 last night getting fried...jacostrausshttps://www.blogger.com/profile/02542311353896984645noreply@blogger.comtag:blogger.com,1999:blog-947237681666122369.post-68644432986300980042011-11-09T00:43:47.087-10:002011-11-09T00:43:47.087-10:00lol.
Don't wanna sound too excited yet... but...lol.<br /><br />Don't wanna sound too excited yet... but THIS is how you kick off a third wave decline, with a 20-30 point (or more) gap down in the market.PretzelLogichttps://www.blogger.com/profile/11613859771824863784noreply@blogger.comtag:blogger.com,1999:blog-947237681666122369.post-77587724682413896382011-11-09T00:28:28.502-10:002011-11-09T00:28:28.502-10:00I see the current WSJ headline:
Italian-fed rally...I see the current WSJ headline:<br /><br /><b>Italian-fed rally collapses</b><br /><br />When I see something like that I just want to shout: "You sound surprised!? Helloooooooooooo, where had you been the last few years?????"jacostrausshttps://www.blogger.com/profile/02542311353896984645noreply@blogger.comtag:blogger.com,1999:blog-947237681666122369.post-25533073864502860362011-11-08T23:36:10.717-10:002011-11-08T23:36:10.717-10:00Be interesting to see if they can reverse this bef...Be interesting to see if they can reverse this before the open. They've reversed it the last two times and brought it back to flat or green before the open. This time, though, I suspect that might not happen.PretzelLogichttps://www.blogger.com/profile/11613859771824863784noreply@blogger.comtag:blogger.com,1999:blog-947237681666122369.post-66494091199204233882011-11-08T23:35:39.447-10:002011-11-08T23:35:39.447-10:00JSE down 0.89 and my shorts 1.79. Now I just have ...JSE down 0.89 and my shorts 1.79. Now I just have to hope and pray against a black swan event like Obama adopting a new dog or the Queen spilling some tea.....jacostrausshttps://www.blogger.com/profile/02542311353896984645noreply@blogger.comtag:blogger.com,1999:blog-947237681666122369.post-86337152121684698672011-11-08T23:26:45.129-10:002011-11-08T23:26:45.129-10:00Ty, both (or the same?) anonymi.
Great report on ...Ty, both (or the same?) anonymi.<br /><br />Great report on a fundamental wake-up call for the markets. That might trigger what I'm seeing in the charts here.<br /><br />I was just finishing this chart for tomorrow (ooh, a sneak peak at tomorrow's update!) when the futures started tanking:<br /><br />http://www.screencast.com/t/093v0RRtC<br /><br />Earlier, when I posted to Rocky:<br /><br />"Interestingly, there's at least one way to view the charts that says today WAS the top. Hmm. Still working, but that's showing across markets I've checked so far."<br /><br />This is what I was referring to. After comparing across markets, it checks out.<br /><br />Top may be in. More in tomorrow's update.PretzelLogichttps://www.blogger.com/profile/11613859771824863784noreply@blogger.comtag:blogger.com,1999:blog-947237681666122369.post-39073920694812474452011-11-08T22:49:23.532-10:002011-11-08T22:49:23.532-10:00German LFO index data coming today - may suggest G...German LFO index data coming today - may suggest Germany entering recession. Yield curve inversion has now occurred in Italy portending recession. Euro zone recession looking increasingly baked in. Absent the ECB reversing course and printing (which they surely will, eventually), sovereign EZ yields will come under greater pressure as recession bites.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-947237681666122369.post-58851107706565645712011-11-08T22:14:59.805-10:002011-11-08T22:14:59.805-10:00I'll be more careful, I promise. I see South A...I'll be more careful, I promise. I see South African JSE started green and turned solidly red during the first hour of trading. <br /><br />Europe still green... bears busy licking wounds and still too afraid to come out of the closet over there it seems :)jacostrausshttps://www.blogger.com/profile/02542311353896984645noreply@blogger.comtag:blogger.com,1999:blog-947237681666122369.post-73810922463769790422011-11-08T22:07:47.618-10:002011-11-08T22:07:47.618-10:00I'm another "appreciator", Pretzel, ...I'm another "appreciator", Pretzel, and I particularly respect the "ego-less" manner in which you conducty your analysis - something that many traders fail to do, at their cost.<br /><br />Thanks for your work.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-947237681666122369.post-48618531708492402452011-11-08T20:57:18.806-10:002011-11-08T20:57:18.806-10:00Alright Jaco, just don't let it happen again. ...Alright Jaco, just don't let it happen again. ;)<br /><br /><br />And Brian, dunno if you clicked "post" too early... but, "No, YOU." So there! :pPretzelLogichttps://www.blogger.com/profile/11613859771824863784noreply@blogger.comtag:blogger.com,1999:blog-947237681666122369.post-89790465687071133692011-11-08T20:39:32.128-10:002011-11-08T20:39:32.128-10:00And jaco, I see now that the afternoon rally was a...<i>And jaco, I see now that the afternoon rally was all your fault.<br /><br />There's no steak in the trenches, soldier! Bully don't eat steak, he eats BEAR. - Pretzellogic</i><br /><br />Yes, but I had been referring to <i>my</i> love of Bleu beef and the fact that they are normally still so close to life that I have to keep my salads at a safe distance...<br /><br />Unfortunately that allowed yesterday's bull to get back up again :(jacostrausshttps://www.blogger.com/profile/02542311353896984645noreply@blogger.comtag:blogger.com,1999:blog-947237681666122369.post-76394391158667042972011-11-08T20:27:09.240-10:002011-11-08T20:27:09.240-10:00Pretz,
Don't mistake your individual detracto...Pretz,<br /><br />Don't mistake your individual detractors for being (even remotely) a proxy for overall 'sentiment' concerning how your work is generally and widely perceived. Your responses (that I have read) are telling, starting with your extended defense of your article on Minyanville the week before. <br /><br />That critic went after the emotional and philosophical underpinnings of your work, if you remember. While also (predictably) calling into question whether you are competent at the whole E wave thing in general. <br /><br />Youbrianhuthttps://www.blogger.com/profile/13919393156588909718noreply@blogger.comtag:blogger.com,1999:blog-947237681666122369.post-14138009538923979572011-11-08T20:06:21.919-10:002011-11-08T20:06:21.919-10:00Thanks mav, and anonymouseseses ("anonymi&quo...Thanks mav, and anonymouseseses ("anonymi"?).<br /><br />:)PretzelLogichttps://www.blogger.com/profile/11613859771824863784noreply@blogger.comtag:blogger.com,1999:blog-947237681666122369.post-13346729112713925902011-11-08T19:59:43.288-10:002011-11-08T19:59:43.288-10:00My view is pretty ST for now until I see more cons...My view is pretty ST for now until I see more constructive evidence of the market. I pretty much try not to complicate things too much.. by just trying to focus on the tape in its purest form. I remember back in June and July, many stocks had nasty sell offs prior to and after earnings. I was thinking at the time, the market IS sick.. and then we had that nasty plunge in August. The names that I was watching were breaking down in waves, group by group, and I was very bearish at the time, thinking the market can drop further and retest the 2009 low. Then from Oct 4 low up until now, I didn't pick up those "clues" that the market was trying to break down. Overall, it just feels like a different undertone. No indicators, no wave counts, just from the tape, it doesn't feel like the market wants to break down from here.. of course it can all change tomorrow if things just gap down 10% on high volume you know. I know it doesn't sound very technical, just my observation from the tapeFranknoreply@blogger.comtag:blogger.com,1999:blog-947237681666122369.post-38116513094683190382011-11-08T19:48:05.860-10:002011-11-08T19:48:05.860-10:00Agreed. Love your work Pretzel. I'd like to ta...Agreed. Love your work Pretzel. I'd like to take this opportunity to say that everyone who enjoys his work should show him support by donating / doing the deedmavrichhttps://www.blogger.com/profile/06374468068467353995noreply@blogger.comtag:blogger.com,1999:blog-947237681666122369.post-7131128802064314182011-11-08T19:42:49.618-10:002011-11-08T19:42:49.618-10:00I appreciate you too, Pretz. Thanks for your incr...I appreciate you too, Pretz. Thanks for your incredible generosity in doing all this work and sharing it with us.<br /><br />JoshAnonymousnoreply@blogger.comtag:blogger.com,1999:blog-947237681666122369.post-75940535294192815402011-11-08T19:32:09.854-10:002011-11-08T19:32:09.854-10:00I'm sure there are plenty of anonymous such as...I'm sure there are plenty of anonymous such as myself who really do appreciate your time and efforts. There's always a few ungrateful ones but I bet they're the exception. Thanks Pretzel.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-947237681666122369.post-56295862666869160262011-11-08T19:27:05.328-10:002011-11-08T19:27:05.328-10:00Ty Frank.
I doubt you're the *only* one, prob...Ty Frank.<br /><br />I doubt you're the *only* one, probably just the only one who comments and admits it. :D<br /><br />Just out of curiousity, when you say that, how bullish is "bullish"? Bullish ST, IT, or LT?PretzelLogichttps://www.blogger.com/profile/11613859771824863784noreply@blogger.comtag:blogger.com,1999:blog-947237681666122369.post-30666135767986136972011-11-08T19:15:51.326-10:002011-11-08T19:15:51.326-10:00Even though I am the only bullish person here... I...Even though I am the only bullish person here... I still read your bearish counts daily... Just to play devil advocate against my own thoughts... He heFranknoreply@blogger.comtag:blogger.com,1999:blog-947237681666122369.post-88021890413104560302011-11-08T19:12:34.176-10:002011-11-08T19:12:34.176-10:00Hang in there Pretzel, often times I get lost coun...Hang in there Pretzel, often times I get lost counting waves and get all confused too. After following your blog for a while my EW understanding comes down to 12345 ABCXYZ ... He he.... But I appreciate your scholarly work truly. Keep up the good work!Franknoreply@blogger.comtag:blogger.com,1999:blog-947237681666122369.post-59230855353541044292011-11-08T19:06:06.051-10:002011-11-08T19:06:06.051-10:00THE charts, not "that" charts.
Blogge...THE charts, not "that" charts. <br /><br />Blogger, give me an EDIT option...!PretzelLogichttps://www.blogger.com/profile/11613859771824863784noreply@blogger.com