Thursday Update...
The bears were fed today, but make it last as Friday will likely rally up... at least in the morning session. Â Google popped up 50 points afterhours, should give the market an early morning lift. Â But, by the afternoon session we could see the short term charts get over bought and some selling into the close is possible. Â I'm not calling for anything big, but overall I'd just say that the close could be just slightly positive or flat, as I expect some of the early morning gain to disappear by the afternoon, and into the close.
Next week is still unknown, but if they are going to fill the DIA 118.16 print, they've got a good opportunity next week with all the earnings coming out. Â Maybe we will hit it within the next week or two? Â Maybe... just maybe? Â ...but after that, all hell is going to break lose!
Red
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The poor bears are are almost extinct now...
Up Up and Away! Â Dow 20,000 by Friday... and the cost of a loaf of bread = $20.00! Â The government gangsters should be brought up on criminal charges and publicly hung. Â The Fed's make the Mafia look like Mother Theresa. Â They are the most evil and corrupt group of gangsters in the world.
By constantly crushing the dollar, day in and day out, it's now worth 10% less then it was just 3 months ago. Â It's nothing short of a 10% tax being put on the American consumer. Â It's robbery, and no one seems to be able to stop them. Â While I do believe that there are many "white hats" (good guys) secretly arresting these thugs, it's not being done fast enough.
At the rate we are going, these gangsters will succeed in producing the largest crash ever in the history of the stock market. Â If we continue to push up to the FP of DIA 118.16 (which I believe we will), then the fall that will come after it will completely wipe out millions of peoples' life savings, and asset values.
If you think the housing market has bottomed now, just wait until 2011-2012 as the Dow likely be cut in half by then. Â In fact, I think they could reach that upside FP by election day, and then start crashing week after week following it. Â I know a lot of bears are getting hurt right now, and I'm not giving advise.
However, I'm not getting heavily short until that print is hit. Â While we could still dip down a little tomorrow, and I do believe we will... it will likely be just a buying opportunity for the continued ramp toward our upside target. Â How low, I don't know? Â But tomorrow is looking like it should rise in the morning and sell off in the afternoon closing down for the day.
One more thing... here's a video that was sent to me, and I think it's worth everyone watching it. Â While I don't know if November the 14th will be the big crash date or not, I do know that the Illuminati are big on rituals, so he could be right?
Certainly with all the POMO dates on the schedule between now and the election, they will likely be able to go up and fill the 118.16 print. Â After that... it's a dozen or more downside prints that will be anxiously waiting for their turn to be filled. Â And they aren't even close to the upside print!
In fact the Dow 8300 FP would then be 2500 points down from the upside print! Â Now that's one huge crash! Â So, just hold on to some cash gang, and the trout will be swimming up stream soon, and the river will be bone dry! Â The bear feast will be on once again!
Good eating everyone...
Red
I don’t get the 118 print on DIA. What if it’s just a data feed error? lol. I do tend to trust the FPs that are clearly visible on the charts with a spike up/down, but I’m not sure about “mistake” prints on websites. As a developer myself, there are many things that could cause a website to print the wrong value due to a bug.
oh yeah, and Nov 14th is a Sunday, so I guess it’s a black Monday? heh
I read some of that info in the video elsewhere. He’s very intuitive if he came up with that on his own. By the way October 14 (77??). It’s also 734 (77) calendar days from October 10 financial crisis low. Lp’s 1000 suns released on 9-14. A key event occurs in Wall Street 2 at the 77 St. subway station. So so much more but I am not getting a good vibe here. Seems everyone is bullish now and Steve Eubanks mentioned there weren’t any shorts left (literally or figuratively) in today’s TopStep video. I have elaborated more in the comments section of a recent larry p. internet interview at commodities interview site for those in the know. But still much much more……Waiting for the AAII release. Expect to see some ridiculous numbers.
S&P 500 Futures before opening bell : CLICK HERE
RT zerohedge:
Trifecta Of Economic Horror: Trade Deficit Explodes To $46.3, PPI Rises Above Expectations As New Jobless Claims Surge
You lost me on that question…
I was informed that their are dark pools of volume that are not being counted in the markets. Have anyone heard about this?
Dow Jones Support and resistance levels : CLICK HERE
Well,
Based on the where I expect the short term charts to end today, I’d say that tomorrow will be an UP day, as the 5, 15, and 60 minute charts will all be oversold by the EOD.
Here’s more reasons for an UP day tomorrow:
1. The rising trendline of support hasn’t broken.
2. The volume is still low today.
3. It’s opx day, which means they will likely pin the spy higher to avoid paying out on all the puts.
4. It’s another POMO day.
5. The gangsters are crooked and evil and just like to frac everyone!
Need I say more?
The only way I see for tomorrow to sell off is if we break the support trendline with good selling volume. That’s about 1160 spx right now. Some how I just don’t think it’s going to do that today.
Ready for the 2 pm pump? Probably +40 on the Dow EOD, then a continuation for another 200 point Friday.
Yep…
At this rate of 1,000 Dow points a month, we’ll be back at all-time highs in the Dow by Jan 1!
http://www.youtube.com/watch?v=vscG3k91s58
Education stocks taking a hit..I’d avoid for a couple of days…STRA at 138 or so…It could go down another 10%
The daily news cycle …Is bad news everyday…that’s good for a trend change…
Education always takes a hit, as the it’s the first thing the politicians cut the budget on when they get elected.
APOL 36, april hi 66…cut that 50% = 33…that’s where I’d go long..that’s 9% lower.
Yes there are dark pools. Separate private exchanges where stock transactions that can be conducted is secrecy. I know Goldman Sachs operates one.
That means the volume we see list could only be half or less of the real volume happening. Interesting…
The 2 pm pump was a little later than usual. I guess someone forgot to prime it. But no worry, they’ll make up for it tomorrow. Instead of the usual 200 point rally, we’ll go 230.
58 a current Cramer Code number and elsewhere (first scene in Wall Street with Shia laBouef the clock is set at 6-52 or 58). 58 years separated the 1929 and 1987 crashes. Today October 14 is 5 months 8 days from the May 6 flash crash. Today is 406trading days from 3-6-9 low. 46 another prominent Cramer,Social Network,WallStreet number. In Wall Street 2, Geccko is seen on the cover of Forbes 941 wealthiest people edition and the camera lingers on the number 46 for a few seconds. Today is 587 calendar days from the 3-6-9 low. 5(87) or how about 7×58…which is…..406!!!….24 another esoteric number…..8-24 or (888)-8 is 2years 1 month and 21 days from October 14. February 4,2004 (or 2-4/2(00)4) a date prominently mentioned in Social Network(there are also only 24 remaining days in Feb after Feb 4). 4 years 4months 4 days from that date is 8-8-8 which basically was the stock market peak before the collapse into the fall. 6years 6 months 4days would be 8-8-10…..August 8 is listed as the main character’s ex-girlfriend on her facebook page…64 another esoteric number …8-8…644 is also double 322 for those in the know…..6 years 4 months 4 days from 2-4-2-4 is June 8-2010 or 6-8-10 (and a stock market low if I recall correctly)—6 years 8 months 10 days from 2-4-2004 is October 14,2010. October 13/14 are also 66/67 days from 8-8. October 13 is also 644 calendar days from 1-6-9 high. 4months 6 days from 6-8-10 is October 14.
The current astro event has a correlation to the numbers 58 also. Merriman has discussed it in his latest weekly blurb. Still so so much more. Interesting that the(33) Chilean miners were freed after 69 days.
Google Inc. said Thursday its third-quarter net income rose to $2.17 billion, or $6.72 a share, from $1.64 billion, or $5.13 a share in the same period last year. The Internet search giant said net revenue for the period ended in September rose to $5.5 billion. Excluding one-time items, Google said earnings for the quarter were $7.64 a share. Analysts polled by Thomson Reuters had expected Google to post earnings excluding items of $6.69 a share, and $5.3 billion in net revenue.
GOOG +7.55%
Now for the weekly cycles which my cycles guru has not discovered. The first leg of 2009 bull run from March low to July low was 18 weeks, second leg from July low to Jan high (134tds) was 27 weeks. Jan high to July 2010 low is 24 weeks. Jan high to April high is 15 weeks followed by a 9 week decline to July lows making the April high to this weeks high 24 weeks ( a current 15 week advance). This week is then 66 weeks from July low and 84 weeks from March 2009 lows. Hmmm that makes next week 85 weeks.
http://www.scribd.com/doc/39347859/CMA-Global-Sovereign-Credit-Risk-Report-Q3-2010
Rating USA =AA+ 😉
They managed to pull a hanging man on the Dow at the close and negative breadth narrowed. DBA put in a doji. Interesting, considering euro was up 1.21 +.87% and commodities and currencies were screaming higher last night. DBC with a minor reversal and crude oil with a fat black bar which is very rare on its chart. Most of the week’s economic reports are squeezed in tomorrow. So its a case of POMO Google vs. economic reports. I don’t really see anything for October 15 other than maybe its 3months 14 days from July 1low and 5month 18days from April 26 high but I think 5mnths 20 days is more important since Cramer featured that date on his show and it was an important down day (all time low on McClellan Oscillator).
Good God, GOOG is up $50 in AH…WDC is up 8% in AH…YAY—
I get to short NTAP again…
BRCM getting close to some short sell prices.
http://zstock7.com/?p=3492
Market refuses to go down. Tomorrows close should be interesting…………
Expiry week hijinks
Refresh page for update…
S&P 500 Futures before opening bell: CLICK HERE
BAC – dropping like a rock
BAC now down 5% – DEFCON 4
2nd attempt to break 1184 high is failing thus double top confirmed. Think trend change is confirmed. We should go down from now on. Dollar bottomed, euro yen carry trade is unwinding, a lot of selling coming.
hahaha – someone bought 17K June 90 SPY PUTS
S&P 500 Near channel bottom: http://niftychartsandpatterns.blogspot.com/2010/10/s-500-in-channel.html
Here’s the funny thing – I had orders in for SH and DOG that never triggered yesterday – LOL!
Dow Jones Futures support and resistance levels: CLICK HERE
That “someone” must know that a crash will happen before June of next year. Personally, I see it happening within the next month, but time will tell.
The 60 minute chart is still oversold, but pushing its’ way back up now. It could take all day for it too peak? The 5 and 15 and overbought, so they are push down on the market.
This tug of war between the charts is whats’ causing these wild swings. That… plus it’s opx day and the gangsters are making their stop sweeps before the closing print.
As long as that trendline of support isn’t taken out with volume, I’d say we’ll close about flat by the end of the day. If it breaks, then we should see heavy selling into the close.
Today is a daytraders dream!
Hopefully, it’s a major dollar reversal. It’s been a pipe dream so far, but who knows..? Have to wait until 4pm to see if it’s just another head fake.
Oh you can bet that the dollar will be part of the reason the market crashes. Just look at the chart…
http://stockcharts.com/def/servlet/Favorites.CServlet?obj=ID1926808&cmd=show%5Bs184511647%5D&disp=P
By next week, those histogram bars should start to inch their way into positive territory, which could be about the same time it makes a double bottom at 74.23 or so.
They are stretching this out as long as they can, but it’s highly unlikely that the dollar will break though that level. Odds are that there will be a big reversal at the double bottom.
Gang, if I had to guess… I’d say the market will trade in this tight range until the end of day. That would put it at the apex of the triangle it’s forming (maybe AnoopSan can post a chart of it?).
I just don’t think it’s going to break down today, but it could break up during the last hour before the close. However, with it being opx day, they will likely pin it close to where we currently are.
And, since the 60 minute is still oversold and working its’ way back up, I’d say we have the breakout on Monday. The usual bullish Monday looks to still be in play for now.
But at some point, the rising trendline of support will break, and next week could be the perfect time for it too happen… especially if some major companies disappoint on earnings. It’s too early to know right now, but I’m leaning toward a breakdown sometime next week, and not today.
S&P 500 Hour chart analysis: CLICK HERE
Another try at 1185 coming for end of session. Very difficult market. Next week should be down ,not sure anymore.It all comes down to the dollar next week.
The week might end down, but Monday looks to be another UP day.
Dow rallying towards the end without dollar participation. The sheep have been trained.
If the dollar closes lower than yesterday, for the first time in 5 weeks, this could be the turning point.
Don’t follow the $ but I do track the EUR and it’s been looking wobbly this week
I have a current setup on my indicators that’s repeated 4 times in the last month and led to a great long entry point – question is can it repeat a 5th time