I commence with gratitude to The Creator
WOW, I must admit that I erred about the swing bottom yesterday.
It’s Mercury Retrograde at full swing.
Markets find ways to humble any and all, regardless how insightful you might have been. As someone said, “everyone trips every now or then, but important thing is not to fall.”
Gap down nullified any previous bullish stance.
I had ignored rather missed my own analysis of major H&S pattern being formed and also in this post. I had foreseen the failure at these levels, would take the SPX to 1,220 and lower area.
I was talking to a friend of mine from Midwest, over the phone the other day and reiterated the same thing what I said in the post a day (on 08/01/01) before that failure the levels would be devastating for the markets. As stated in my post dated that “Otherwise, Failure at these levels, shall be very ominous for the markets. and also that failure to follow the pattern, would only mean that, and borrowing the statement from my post dated 08/02/11 that “If that does not hold true in this incidence, then markets have morphed into a new time cycle pattern.“
http://trade-in-harmony.blogspot.com/
Dear Mr Syed,
Thank you for your posting.
Does that mean we have to change to bearish now, close all long & take short position immediately?
Or is it better to wait for a rebound to go short?
Will the down target be the head & shoulder measured target, & will the bearish time be until early Sept?
Thanks,
Herbert
Dear Mr. Syed,
Thanks for your updating!
Under the current situation, would you kindly suggest the rebound time & target for us to action for reducing the loss?
Moreover, the worldwide markets has gone into the long term bearish, do you agree with this?
Best wishes,
Raziel
Dear teacher ,
In fact , you are hard working and always do very well . Please comtinue .
Many readers trust you .
marco