Sunday, April 24, 2011

SPY's Reverse H/S pattern

No idea how I missed this. Just havent had the time to look at graphs as of the last month.


In a typical RHS pattern like this we see:

1. 98 of these in bear market formations, 268 in bull markets
2. Average rise is 30-39%
3. Average decline after trend stops is -33%
4. Days to ultimate high in bull market is 257, 107 in bear market

I took this rally from September 2010. Looks like we are at the days till ultimate high coming due soon.

To QE3 or not to QE3, that is the question....b/c if Benny boy doesnt print, its over.

Comments welcomes, thank me lots.
Posted by at

45 comments:

  1. The News UNITApril 24, 2011 at 11:24 PM

    Marc Faber said if the market doesn't return above 1344 on the SP500 then he would expect at least a 20% correction. He stated that in Mexico about a week ago. It's on my blog.

    Yes it could be GAME OVER here this week. Hang on!

    Pre-market may be wild. It all starts at 4:00 A.M. ET.

    ReplyDelete
  2. UnknownApril 25, 2011 at 12:40 AM

    Holy $hit we just kicked 48's ass. Going to be a great day.

    ....developing...

    ReplyDelete
  3. zepsterApril 25, 2011 at 12:41 AM

    qe3 gotta happen.

    ReplyDelete
  4. AnonymousApril 25, 2011 at 12:58 AM

    Shorts on the dollar will sell before Bernie speaks and that is going to give the dollar a lift. This might translate into a correction for PM. We need the pause anyway so we can buy more physical.

    ReplyDelete
  5. SilverBullApril 25, 2011 at 1:07 AM

    Silver at $48.91 !!!

    Is US$ gonna tank today? Silver's rise on the open seems to foreshadow that....

    ReplyDelete
  6. The News UNITApril 25, 2011 at 1:07 AM

    I'm thinking about going live on USTREAM for this one. But I need some donations too if I'm going to take this that far. I might anyway....developing....

    Maybe we will get to the Bob Chapman area of 55-60 here tomorrow. It's going to be unreal now with these intraday swings developing. Don't get shaken out and by all means load up on the heavy stuff.....!

    ReplyDelete
  7. JasperApril 25, 2011 at 1:07 AM

    So, I thought bullish reverse HS would be if we break trend line up then measure distance from bottom to head for the up move? So are we in a bullish or bearish market with QE 1 2...3? Bullish then PM should explode upward, bearish the raid will smash us. I don't know what the hell to do?

    Any suggestions (all welcome)

    ReplyDelete
  8. HorsyguyApril 25, 2011 at 1:10 AM

    holy shit, slv @ 49.18, damn no dips here.

    ReplyDelete
  9. Blyght's MomApril 25, 2011 at 1:12 AM

    Oh shit, Blyght and the Hunt Brother's bought a bunch of cocaine, they are all in her bedroom fighting over who is higher.

    ReplyDelete
  10. HorsyguyApril 25, 2011 at 1:14 AM

    Hey Weather guy: do you have email so I can get griz info?

    thanks

    ReplyDelete
  11. HorsyguyApril 25, 2011 at 1:15 AM

    Damn @ 49.53, wtf

    ReplyDelete
  12. SilverBullApril 25, 2011 at 1:15 AM

    $49.70 and pulling back to $49.22 now!! WTF!

    ReplyDelete
  13. Blyght's MomApril 25, 2011 at 1:16 AM

    Blyght just won, or did... Blyght just lose. I don't know... She just called Satan and sold the 1% of her soul that she still owns to try and stop this shit before it hits $50. WHERE IS EVERYONE!!! That's it, I am stealing one of her bottles of Crystal from the fridge.

    ReplyDelete
  14. The News UNITApril 25, 2011 at 1:20 AM

    Massive information. Phone is ringing here off the hook. SGS must be busy also. Unreal:

    The News UNIT Blogspot

    ReplyDelete
  15. JayApril 25, 2011 at 1:20 AM

    Can't take my eyes off the silver charts to go to sleep. This is pretty fucking amazing!!!

    ReplyDelete
  16. SilverBullApril 25, 2011 at 1:21 AM

    I held my SLW calls over this weekend and it looks like I will be amply rewarded!

    But, that is only if this move holds up into the open in NY. Otherwise, the criminal suppression of SLW stock by JPM & co. will kill my paper-investment....

    ReplyDelete
  17. The News UNITApril 25, 2011 at 1:22 AM

    Silver is going to start swinging as much as $5 dollars up and down intraday. Relax people! Buy any dip here overnight you find. You'll probably buy a farm soon.

    ReplyDelete
  18. Blyght's MomApril 25, 2011 at 1:28 AM

    What is going on? This is crazy? It won't stabilize? It reminds me of the times that I've seen the 11 demon's that possess My Little Blyght's body fight over who will be in control.

    ReplyDelete
  19. Got SilverApril 25, 2011 at 1:29 AM

    GO BLYTHE GO !!! I need more cheep physical

    ReplyDelete
  20. JPDGApril 25, 2011 at 1:34 AM

    Damn, that was a strong run. Looks like it stabilized around $49 ish.

    Still, Bernanke just pissed his panties with silver a hair away from $50.

    ReplyDelete
  21. The DocApril 25, 2011 at 1:39 AM

    Looks like no sleep tonight! This night is EPIC!

    www.silverdoctors.com

    ReplyDelete
  22. Veg GearApril 25, 2011 at 1:43 AM

    $49 Eagles here:
    https://www.currencyandcoin.com/US-Silver-Dollars/Silver-American-Eagles

    I bet they will be sold out by sun up.

    ReplyDelete
  23. Blyght's MomApril 25, 2011 at 1:47 AM

    It does look like it has found a place to settle down. Did anyone else see the fluctuations? The Kitco chart doesn't even reflect what really happened? Shortly after it peaked around $49.75 it went down to $47.10 and then went up and down by $1-$1.50 a few times a minutes before it leveled off. PS The more upset Blyght becomes over here the better this champagne tastes? I wonder if she will fake another suicide attempt tonight?

    ReplyDelete
  24. The News UNITApril 25, 2011 at 1:50 AM

    $75 is easily reachable and $100 isn't far away. Once the big players show up now this is going go coil to the upside. We are likely to see some real volatility here this week though.

    ReplyDelete
  25. Got SilverApril 25, 2011 at 1:57 AM

    Veg Gear Have you done buisness with that site already? are they trustable?

    ReplyDelete
  26. HorsyguyApril 25, 2011 at 2:00 AM

    Thanks Veg Gear for 49 tip, I just ordered 100, hope they send them.

    ReplyDelete
  27. stinkyApril 25, 2011 at 2:14 AM

    whats with that '93 vintage being 10bucks less than the others?

    ReplyDelete
  28. RockfordApril 25, 2011 at 2:27 AM

    looked suspicious to me. Took a pass.

    ReplyDelete
  29. Veg GearApril 25, 2011 at 2:34 AM

    Never used 'em before. I found them while bargain hunting over the weekend. I ordered some by CC. It's safe enough for me. If there's any problem the CC will back charge them.

    ReplyDelete
  30. stinkyApril 25, 2011 at 2:41 AM

    well i ordered 1 oz! to see if its legit. maybe i'll be kicking myself by the end of the week or maybe I'll be buying more once the price dips. Interesting times. Price movement reminds me of dot com action-get in while you can and get out before the cliff drop happens!

    Gotta wonder though about that tuesday expiration and wednesday fed press conference. I have no idea what will happen!

    ReplyDelete
  31. Got SilverApril 25, 2011 at 2:42 AM

    Thanks Veg gear I looked them up on the BBB site http://www.bbb.org/southeast-texas/business-reviews/coin-dealers-supplies-etc/international-currency-in-beaumont-tx-10020960 Looked legit to me...we will see.

    ReplyDelete
  32. LedbedderApril 25, 2011 at 3:01 AM

    See how the bastards took silver down when it sniffed at $50. No manipulation here, people...just go back to sleep!

    ReplyDelete
  33. UnknownApril 25, 2011 at 3:07 AM

    Look at that $49.04

    I'm going to kiss Blyght on the lips if it hits $50.

    ReplyDelete
  34. MyronApril 25, 2011 at 3:09 AM

    Manipulation? The boogie man doesn't exist. It's normal profit taking in a thin market after a $2 rise placing the price right below a major resistance level.

    Look at the huge support at $48.50.

    Now after CRIMEX raises margin requirements by 50% tomorrow, then you can use the word manipulation because that's when the real fun begins.

    ReplyDelete
  35. JackApril 25, 2011 at 3:23 AM

    Just a bunch of guys selling when it approached 50. Resistance is being cleared for another run up.

    ReplyDelete
  36. LedbedderApril 25, 2011 at 3:40 AM

    AAAHHH, Myron...I remember being young (and naive) once.

    ReplyDelete
  37. SilverBullApril 25, 2011 at 4:47 AM

    ASIAN BILLIONAIRES BUYING?

    Never forget there are STILL a LOT of wealthy people in Hong Kong that figured out all the gold the BNY sold them was just gold plated tungsten!

    AND, do not forget the Mexican billionaire buying silver mine(s?).Forgot his name.Made his fortune in owning the mex-tel-monopoly there.

    ReplyDelete
  38. SilverBullApril 25, 2011 at 4:58 AM

    They seem extremely determined to HOLD it above $49.00. If we are lucky, $48.99 will be the official CLOSE on crimex!

    ReplyDelete
  39. SilverBullApril 25, 2011 at 6:20 AM

    Blythe, JPM, GS, HSBC, et al top execs are illuminati satanists.
    Jesus, a GNOSTIC fanatic of that day, chased OUT the money changers, the SANHENDRIN out of the TEMPLE WITH A WHIP. HE was marked for death on that day, note the ROMAN governor got to pass sentence yet "washed his hands" of it.
    TODAY the balance gets tipped and they are doomed.
    http://silverbullsilver.blogspot.com/

    ReplyDelete
  40. SilverBullApril 25, 2011 at 6:28 AM

    http://mindovermatter.ru/RVScience/supernaturalspirit/rense_radio_show.html

    ReplyDelete
  41. Funky TapeApril 25, 2011 at 6:57 AM

    $49.78 peak.

    http://i96.photobucket.com/albums/l173/barnz008/Screenshot2011-04-25at55238AM.png

    It's ON!

    ReplyDelete
  42. UnknownApril 25, 2011 at 6:58 AM

    Could the US and Canadian Governments not be taking priority deliverys hush hush. So they can go back to backing the dollar with Gold. The dollar for most of it's like was. This maybe a dumb question. But what other play to they have? There is a debt ceiling and they have to know printing more money. Is not the Answer. Question number 2. back during the Depression the President in the the US made it illegal to own even a decent amount of Gold. Illegal as I think this may seem. Whats to stop them from doing it again? BTW this is that Stiffler dude. What ya think SGS?

    ReplyDelete
  43. UnknownApril 25, 2011 at 7:11 AM

    You have to put yourself in their shoes. Nobody seems like my question to it may be a dumb one I'm a Novice but the Gov's have to do something? Right? That is what I would do.

    ReplyDelete
  44. HorsyguyApril 25, 2011 at 1:36 PM

    This web site and coin shop is a scam and bait and switch. They took my order and then call you and claim they ran out and try and push and pressure you to buy their other high priced crap. Beware they are SCAM:

    https://www.currencyandcoin.com/Contact_US.html

    ReplyDelete
  45. Veg GearApril 25, 2011 at 5:29 PM

    The rat bastards called me to say they had high volume sales and sold out of the '93 Eagles over the weekend. I asked them if the had any other to substitute, but they didn't for the same price.
    I got home and checked the site. '93 eagles were still listed, but now cost the same as the other years. I think somebody screwed up and forgot to change the price to match the rest of the coins. I don't think it's a scam,they never took any money. It's just a mistake but I'm pissed that they lied about it. Things happen, own up to t and say it was a misprint and you can't honor the price. Don't tell me there's none left, like I'm too stupid to check the site again.
    I ordered one at the new price, just to see what happens. If it comes, I'll really be pissed and probably send it back.

    ReplyDelete

Subscribe to: Post Comments (Atom)