Fib extension

[cheviot]

At an RSI of 87 on a weekly basis and somewhere near the end of a fib extension...Has Apple had its chips ???  Its priced for perfection ...and as we all know perfection is rare...Take a bite out of Apple , I think the upside/downside is wildly out.....Time to tip over the Apple cart ??? 

[Caseynotes]

 

44 minutes ago, cheviot said:

At an RSI of 87 on a weekly basis and somewhere near the end of a fib extension...Has Apple had its chips ???  Its priced for perfection ...and as we all know perfection is rare...Take a bite out of Apple , I think the upside/downside is wildly out.....Time to tip over the Apple cart ??? 

🙂  as bullish a chart as you will ever see, looks like RSI has sent away for the IKEA catalogue, it's been in overbought since the beginning of Oct and doesn't look like leaving anytime soon, and MACD with not even the hint of a signal line cross over. Also consider how many extension levels Apple has driven straight over for years now without so much as a 'pardon me'. Short at your peril.

 

[cheviot]

Yeah get your point Caseynotes .....  It ll all come out in the wash, but I would nt put widows and orphans into it  here thats for sure.  

[dmedin]

Look for the RSI divergence - in late 2018 it failed to make a new high when price moved higher (albeit very slightly) then dropped beneath 70.  But hopefully you're using that as an indication of when to take profits, not to go short.   

[cheviot]

Sell strength and buy weakness....Timing is everything, selling a falling market just means you get caught at the bottom short..... This whole US market is utterly 1. complacent....2 Long up to its gills....Nobody but nobody is either short or even being hesitant about either FANG or US 500 ...The belief is it will go up for ever....The same was true when SP 500 was at 680 in 2008/9 nobody believed it could rally ever again.  3. Fed s got itself in a bind.....cheap money is fuelling an asset bubble and W st demands cheap money.....So dilemma for the fed is...If the economy is actually worse than the market is lead to believe where is the Fed going to go....And if the economy is better than the market thinks it is then the Fed will have to hike rates......Goldy locks and the 3 bears out there is nt going to last ! 

 

[dmedin]

U.S. indices have been rising for decades.  Think about all the evil **** that happened in the 20th century.  Put it this way.  For capitalism to continue to exist, there has to be continually compounding growth.  That's what the stock markets are there for.  Capitalism also requires huge amounts of credit and debt to function.

You're really asking the question: will the world order continue to be capitalist?  Because if it is, it simply has to keep growing and the indices and levels of debt will indeed keep rising forever.

Until the day the whole planet looks like Australia does right now - hell on earth.

Enjoy  

[cheviot]

I believe there will continue to be capitalism as other econ. models have failed totally...However stock market indices do not need to grow to prove capitalism works.   In the 1930 s stock markets did nt grow at all , nor in the 1970s . The world may store value in other ways.....land, water rights, minerals etc.  

As you pointed out look at Eastern Oz .....what matters to those poor people now (including my niece) ?    Water /land/ food....Stock market riches mean very little when catastrophe strikes.     

 

Remeber my friend...sheep get slaughtered 

[dmedin]

6 minutes ago, cheviot said:

Stock market riches mean very little when catastrophe strikes.  

 

Quality of life is more important than continually making money, but that's what we all have to keep doing whether we like it or not.  

Really sad to see what's happening to Australia.

Edited January 2, 2020 by dmedin

[dmedin]

Private company greed aggravated or caused the devastating wildfires in California.

https://www.cnbc.com/video/2018/11/14/pge-shares-plummet-after-company-discloses-electric-incident-just-before-california-wildfires.html