Loading ...Shameless self acknowledgement
Last Friday I posted “Is this market scaring anybody else?” It was the most euphoric reckless panic fear-of-missing-out I’ve ever witnessed. Probably the polar opposite of the financial crisis selling. The *monthly* RSI was the most overbought it’s *ever* been. I actually called family members and demanded that they raise cash immediately. If the market didn’t scare you last week, is it scaring you now?
You are here:
Things are changing. Good luck to all.
Hi RSIs like that are THIRD wave (peak momentum) markers.
So tell your F&F to expect ONE MORE set of new highs (months from now).
That will create the VLT divergences needed to signal a secular bear mkt.
Tell them this as well, so they will respect today’s warnings as not just crying wolf.
will it show up as a lower rsi reading for the divergence or perhaps a double top with the second peak being lower but a higher high trick??? Either one will high enough for me, need the big candles and volatility to exemplify the top in my books. Just blip today, world still crazy and nothing fixed in one day.
That was a timely Warning NickG….I hope your friends and family listened
I also hope they didn’t listen to this
https://goldtadise.com/?p=421555
or
https://goldtadise.com/?p=422536
Looks like we all could have listened to somebody
https://goldtadise.com/?p=422977
Thanks. Wasn’t trying to shame anybody here. Nobody’s got a crystal ball. I suppose some of the bulls & euphoria got on my nerves lately. I have a buddy who made a TON of $$ buying tech calls last month telling me now that interest rates are “irrelevant”, I think the QQQ disagrees 🙂
With regard to the links of mine you posted:
1. I actually made $$ on that ethereum trade(I have proof), tried to help out some friends here.
2. As you know I’m still bullish PMs longer term so we’ll see how that turns out. I still like gold’s monthly chart.