Ron_M_Morin

Ron_M_Morin

Don't be fooled by wild bulls on mindless rampage--unless they get SPX over 1960, then the pattern will have changed, but even that doesn't mean the bear market is over. It only means we will have a slight postponement. Anything can happen, but right NOW the weight of evidence is trend will turn down soon. The closing TRIN of 45 is bearish to me in a...

Ron_M_Morin

Another emotional opening this morning--chart wise this is a good place to short again the SPX. We are still going lower--under 1790 at least.

Ron_M_Morin

No doubt some crazed, angry bulls will try to buy here, but it's one hell of an upward struggle after all this technical damage. What's interesting though is how little panic--if any--has come into this market--come on 10 to 1 in favor of downside and TRIN closes at 2.31--yeah a little elevated but disproportionately complacent to the collapse in breadth, which...

Ron_M_Morin

With wave 2 almost 50% retracement of wave 1, we have a very natural place for wave 2 to end. I like emotional openings like this morning because they usually don't last--the over-excited usually don't make money: They make mistakes. Still looking for this final wave 5 to go below 1800, but I mustn't get ahead of myself--first we have to get through wave 3 of 5,...

Ron_M_Morin

How wave 2 resolves itself is anybody's guess, but as soon as this correction is over, look for wave 3 to terrorize the bulls. My target is roughly under 1800 for SPX. A typical stopping point for wave 2--if my count is right--would be about 1950--it could be more or less, but that's typical. Also, it might take another day or two to complete. On the other...

Ron_M_Morin

I was worried about the high TRIN reading today, but this afternoon's selloff dissipated that tension. I now expect the selloff to continue tomorrow. We are in wave 3 which is a recognition wave--when the investing public notices (recognizes) that the market is going ONE way. That should happen in the next day or so. GL

Ron_M_Morin

We've had a nice little bounce. Unless wave 2 morphs into a more complex correction, which I doubt but can't guaranty, then wave 3 should commence down in earnest. We are looking to get below Aug 24th low, 1823, in 5 waves. GL

Ron_M_Morin

This wave 5 should take us to new lows and it should happen in a week or two. Look for signs of panic (high TRIN between 4 and 5, and elevated VIX maybe 30/35). Stay alert. When wave (1) ends, wave (2) UP starts and it will have an attitude. Don't get in the way. Of course, all of this is prelude to wave (3), which is what we all live for. Oh, there may be...

Ron_M_Morin

After almost a month of sideways action, the market has finally tipped its hand--going to new lows. Could be quick--and the bulls will certainly ambush, so stay on toes. After (1) is completed, (2) will be ferocious, possibly getting back to today's highs. GL

Ron_M_Morin

If my count is right, wave 5 of (1) should begin to go down tomorrow. Because tomorrow promises to be a very emotional day, be careful as you try to position yourself--the swings could be wild. Also, once wave 5 makes new lows, get ready to sell because the next rally will be ferocious. GL

Ron_M_Morin

If my count is correct, we should rally up from here, but because tomorrow promises to be a volatile day, we may see some big swings that distract us from the over-all pattern, which is bullish TVIX and bearish the general market of equities. Keep your head tomorrow as you try to position yourself.

Ron_M_Morin

We are heading for new lows and no one can save us--what a concept!

Ron_M_Morin

I believe PMs are bottoming here. I think it's an intermediate bottom and this rally should get NUGT (in this case) above 15 in the next couple of months. GL

Ron_M_Morin

In this picture perfect chart wave iv--the correction of wave iii--is ending this morning. If I'm right and the count is right, we should begin the wave v sell off sometime after the open today. GL

Ron_M_Morin

As you can see from chart dip buyers continue to tempt fate. It's alright, the FED's given them plenty of money to indulge in whatever fantasy. Noblesse oblige--that is, since we are saving humanity, what's a few crazy speculators!! By my stars, one more trip up and that should cinch it--the FED, Noblesse, and Dip buyers be damned. GL

Ron_M_Morin

I've been watching this pattern develop since May 19--it's a series of 1s and 2s--Elliott Wave pattern--that is very bearish. The juncture that we are at--if my count is right--calls for a rally--possibly 300 points, which would be a flat zigzag. Dow and other averages have been down for 6 days, which is very oversold. A rally under ordinary circumstances...