If this is anything like 2011, which people keep comparing this to, we could be setting up for an epic run in the NASDAQIRIS.
Just a little FYI: Exodus has been oversold in 5 of the past 6 days. The last time we had so many OS signals, in such a short a time frame, was the hard bottom lows of August, 2010. The below graphic shows you the loss in August of 2010 to be a little more than 5%. Those out there who were trading it know the average momo stock was down a lot more than that.
The NASDAQ fell by 4.49% in September of 2011, very similar to our -4.6% drop now. It’s worth noting, the month after Exodus flagged all of those oversold signals, the NASDAQ ran like a wild beast, +13.17% in September.
In October of 2011, the NASDAQ annihilated all short sellers, ate all the chickens, and pillaged all the villages, running up by more than 10%. It’s worth noting that it went up another 6% in 2010, following that 13% September rout, which was all signaled by our algorithms in Exodus as ‘extremely’ oversold–just like now.
Bottom line: History may not repeat itself, but it rhymes. It might not play out exactly according to script, but there will be similar storylines playing out now–very reminiscent to the dark days of 2010 and 2011.
If you enjoy the content at iBankCoin, please follow us on Twitter
$TNA time boss?
yes
With all due respect to your analysis, I would merely point out that in 2010 and 2011, the cyclical bull still had a long ways to go…before topping in 2015.
He just said history doesn’t repeat itself.
It’s going to be a monstrous rally.
Even right now the mkt is luring in more bears, begging them to short as it declines from the opening hour. They will be catapulted into Mexico soon enough.
vandamme: Yes, I read that. He mentioned that it rhymes and that there could be similar storylines. I have a very contradictory belief, as stated.
Hope the market doesn’t shit itself again.
Friends now using the market volatility to try and sell me on Indexed Life Insurance…
What happened to us Bears in 2011 right after Copper touched it’s crazy high which it never came back to, was QE crazies. Our poor USD got hit right and left with all the damage Central Banks did to it. Oil went into rally mode aided with Iran Sanctions. Copper got a bid too even though it was in a crazy bubble but never took out LME top. Now this Nymph is in 2015 omg, China can’t do magic anymore by announcing rail projects, hot money has left the building. OPEC Petro Dollars are ahhh gone, so they can’t flood the F/X market looking for home. Now Oil Producers have to raise money and Iran has deal so China’s cheap source of Oil is gone. Iran doesn’t have to sell only to China at Cut rate prices. All super Ugly and IMHO my Shanghai Copper Bubble was going to set up to Pop around the time SPX was around 1755ish and I still can’t believe it went above it. Oh Well.
OMG I really should proof read, so word blind. Last Sentence big mess. But mainly, the Copper Market was setting up to collapse when we were sitting at SPX 1755ish, the market disregarded this and pushed SPX way above 2000. But Shanghai Copper Bubble did pop.
Now that bow tie Jim is right about China shouldn’t you be getting your commission on promoting him for all these years?
i checked with the oil price magic 8 ball. it said after the eoq tape painting it’s look out below.
Wondering when AAL is going to join this rally. Seasonality looks amazing in October.
Fly, is it true you met with the Pope last week?