thursdays malaise, page-73

Wink

I didn't even take my own advice, lol.

I eventually got a intraday short going and pocketed 50 pts only to see it fall some more, but I may just do a long AGAINST the trend if we get there before 4:30. And a moment ago I was saying I won't trade against the trend. Well hardly ever, lol, except when I have specific targets.

Your waffle was quite a read, and I hope I don't jinx you with my suggestion being similar. Of course now we want a waffle every week.

The post 4 pm action might be interesting. It has been recently against the day's trend but we have a little rally now so anything could and probably will happen.

WE are now having mostly modest SPi discounts since late Dec which is "normal" bear market behaviour.

There is no set Jan SPI prem/disc pattern except that a JAn pattern of discounts usually continues to the end of Feb and sometimes even into early to mid March.

If the market continues its decline into that time frame then I would watch for bullish outliers as great sell spots and very large discounts as possible capitulations.

I do have one chart with a long term trend line and a cycle that suggests Jan close could be the lowest close month for some time. That doesn't mean Feb and March can't have lower days and its far too premature to probably be even thinking about it. IF Jan closes on the line then I will post it and we will see.