Wednesday Update... a pause day as expected, but still no blow off top?
(to watch on youtube: http://www.youtube.com/watch?v=AdlZpNb3Mow)
I Wish I Knew?
(to watch on youtube: http://www.youtube.com/watch?v=pKqgFy-pd50)
While the pattern that the market is making is similar to previous patterns... which proceeded to have a quick spike higher in the morning and then a hard sell off afterwards, I'm not sure if history will repeat itself again this time or not?
This daily pattern looks very close to what happened in April of last year, with today resembling April 29th, and hopefully tomorrow will look like the 30th... and nice big red candle! Will it happen... I don't know? The 15 minute chart looks ready to turn back up and give us that early spike higher in the morning at least.
The 30 and 60 minute charts are looking might toppy right now, and should roll over by late tomorrow. But, they could stretch this out until Friday and trade sideways while the charts reset back to bullish mode again. With the Legatus Pilgrimage happening this February 3rd-5th, we might not see any sell off until next week. Remember, the gangsters need time to cash their checks and launder their money through the secret Vatican banks (and other oversea banks that don't report to the IRS).
This has been a very frustrating time for bears, as every sell off gets bought back up after only one or two days down it seems. By the time the bears get short, the sell off is already over. The plan is simple really... just repeated squeeze all the bears until the last bear is broke, and then crash the market! So, are all the bears broke yet?
Who knows? I do know that the bears sure are tired of all this B.S. manipulation... that's for sure!
I think we could spike up on the ADP numbers (faked of course) and then sell off the rest of the day. That's what the charts tell me, (not that they always work), but if so... then Thursday should be the larger down day with Wednesday just being the start of the sell off.
That means they could reverse back up on Friday like they did on May 3rd of last year... leaving next week setup for some really ugly selling. This is just speculation on my part, as I try to forecast what the gangsters would do... if I were them. The charts would support it too, and the timing of the Legatus Pilgrimage matches up as well.
So for tomorrow I'm looking for a pop in the morning and then selling the rest of the day, with more intense selling on Thursday. Possible up day on Friday, if Wednesday and Thursday are down days. If not, then the gangsters will just keep on pushing this piece of crap market up to wherever they please.
Hang in there bears...