Highly Recommended to read(:Goodbye Market
I mean I posted here a few months ago that it was going to 212 when it was at 198... crucify me for a tad bit off lol but I'm only posting on here just for the proof that I called it, To many different factors lead to a cross verification that this is indeed a market top, other than if another short covering rally and institutional mark-up with aimless traders and investors push us back up to 210 maybe one more time which I highly highly doubt, this is the end, fun while it's lasted.
Oh and people who think this is a breakout to the upside, I'll comment to you prior to me receiving dumb comments lol... This has fallen, has no buying pressure really, it reaches a new low, everything get's marked up after hours or pre-market which has very little non institutional contributions, so it gets popped up on light volume just so the crowd follows with hope pushing it back to new highs, then institutions distribute at new high's much more than was required to mark it back up, churning shares that have been held for a very long time, Not like they want to just unload hundreds of millions of shares on the market, that would not be good for average price of exit, so this little 3.7% move over the course of the last few days, is inorganic, and simply a result of short covering from weak hands, and institutions driving it up so they can unload before things significantly collapse, it helps there averages a lot.
Doubt me look at the candlestick bar volume 31 May 15:00, if we were going much higher why would 35,700,000 shares of the spy get distributed, that's 7.497 billion dollars, the 3% markup we just had added 224,910,000 dollars extra to the sale, not including what would've been lost in the slippage if it would've been sold 203.50ish.
Of course some of that obviously wasn't all institutional, but majority was.. Sorry 3 gaps up with everything pointing to a major decline, and each of these gaps we're followed by very little intraday movement, points to us having a major decline imminently due to a lack of buying pressure,amount of shares needed to be distributed, vast amount of weak hands due to just rotating their long positions to stocks that haven't declined yet which just leads to more overinflated prices to collapse, and of course currently overinflated prices.
Oh also left out on my last post in all of the factors I listed, I left out simple inter market analysis is another fun factor to add, and when commodities with the equity market decline together ( which is occurring right now to start ) it only adds to the bearish fun.. and can't forget a quick markup prior to negative new's relating to economic policy releases by the fed, even if it's just okay new's make a great opportunity to unload a lot more share's, I mean that's new's only real good use anyways.
Don't have the time to simplify or revise what I wrote so hopefully it makes sense as I'm in a hurry and have to go, could elaborate for hours, but I'm sure this will due the job
Well wish everyone educated, or open minded the best, it's time to make a lot of money.
Talk in time
Sincerely,
You're rape and pillage bear Nick
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