Makes sense Scott. I see another push down too (a wave 5 of some kind) to end this first larger sell off from the recent high. Then a few days of rallying into later in the week. I’m not sure if they are going to roll back over and make another move down to below 2000 or not?
I will say that the monthly and weekly charts are both bearish and do support another larger drop. But you and I know how manipulated this market is to the bullsh@t side… LOL! So I’ll just take it one day at a time. First a short to 2040 area and then a long for a rally up to somewhere. After that… I don’t know?
“The impacts on food consumption result not from a tailored tax on
excess consumption but from broad global price increases that will
disproportionately affect some of the world’s poor”
The market is looking tired here. We could see it rollover today at some point. On the downside I’d look for the 209 area to be support on the SPY. There’s a rising trendline of support coming in around 208.75 which also is the gap fill area as well. That should be a magnet to the market if we rollover today.
I’d look for a small downward sloping trendline to be hit on the upside for the best shorting spot. Right now it’s coming in around 210.50 SPY and about 2108-2109 SPX (depending on when it’s hit). It might not hit until later though… maybe before noon?
With the light volume expected to continue today this suggests that we could chop around early in the day before we hit that falling trendline and then rollover. This move down though shouldn’t be much to get excited about as I’m sure next week they will make another run up to make news highs again on all the indexes.
Makes sense Scott. I see another push down too (a wave 5 of some kind) to end this first larger sell off from the recent high. Then a few days of rallying into later in the week. I’m not sure if they are going to roll back over and make another move down to below 2000 or not?
I will say that the monthly and weekly charts are both bearish and do support another larger drop. But you and I know how manipulated this market is to the bullsh@t side… LOL! So I’ll just take it one day at a time. First a short to 2040 area and then a long for a rally up to somewhere. After that… I don’t know?
Red, Monday/Tuesday AM should close to near 2040 then up to 2075-80 before Blood Moon then we head down until mid May to see 1930ish.
Biofuel policies reduce CO2 emissions by starving the poor. http://www.eurekalert.org/pub_releases/2015-03/pu-dbp032715.php
“The impacts on food consumption result not from a tailored tax on
excess consumption but from broad global price increases that will
disproportionately affect some of the world’s poor”
CRUDE Oil Weekend update: http://niftychartsandpatterns.blogspot.com/2015/03/crude-oil-weekend-update_28.html
Stinks that I didn’t take a short on this down move. But now I’ll be looking for a long after one more down move… probably next Monday?
May 10
http://bradleysiderograph.com/2015-turn-dates-sp500/
http://bradleysiderograph.com/overview-of-the-bradley-turn-dates/
Well, got up to 2107.63 SPX (210.40 SPY) before rolling over and dropping to the 208.74 SPY low… not a bad guess.
I see a nice MA pattern in the SPY, SPX, etc…, which is bearish. But with the extremely light volume I think I’ll pass on shorting today.
The market is looking tired here. We could see it rollover today at some point. On the downside I’d look for the 209 area to be support on the SPY. There’s a rising trendline of support coming in around 208.75 which also is the gap fill area as well. That should be a magnet to the market if we rollover today.
I’d look for a small downward sloping trendline to be hit on the upside for the best shorting spot. Right now it’s coming in around 210.50 SPY and about 2108-2109 SPX (depending on when it’s hit). It might not hit until later though… maybe before noon?
With the light volume expected to continue today this suggests that we could chop around early in the day before we hit that falling trendline and then rollover. This move down though shouldn’t be much to get excited about as I’m sure next week they will make another run up to make news highs again on all the indexes.
Popgun’s 39th birthday tomorrow.
Iowa lost to Gonzaga so no funky Iowa-UCLA matchup.
Divergences on all time frames today from 60mins down for RSIs.