“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.
Based on what I see in the charts I think we could squeek a little higher today at some point even though we might drift down a little in the morning (not worth playing as early downside seems small). But after another move up we should be hitting the rising trendline on the Nasdaq and the Russell, which is where I’d expect a pullback on all the ETF’s.
Since it’s a rising trendline I don’t have a target as it moves with time. But on the IWM I’d guess it’s in the 126.50-127.00 zone… so not much. On the Nasdaq it appears to be in the 5050-5075 range. On the SPY and SPX I’d guess it’s around the double top area. Possibly we chop all day today and pop up to hit those levels on Tuesday and then do our pullback? I’m not expecting anything big, maybe 20 points on the SPX? Hard too know right now.
Parker led UCLA in scoring with 28pts. UCLA could potentially play Iowa next round which would be one of Alford’s former teams. I know Iowa is the 29th state. But Gonzaga (Iowa’s opponent) seems too strong this year.
Did see them flash 11-10s and 14 5s in the game as well as the ultimate Bradley date with a 0 added.
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.
Based on what I see in the charts I think we could squeek a little higher today at some point even though we might drift down a little in the morning (not worth playing as early downside seems small). But after another move up we should be hitting the rising trendline on the Nasdaq and the Russell, which is where I’d expect a pullback on all the ETF’s.
Since it’s a rising trendline I don’t have a target as it moves with time. But on the IWM I’d guess it’s in the 126.50-127.00 zone… so not much. On the Nasdaq it appears to be in the 5050-5075 range. On the SPY and SPX I’d guess it’s around the double top area. Possibly we chop all day today and pop up to hit those levels on Tuesday and then do our pullback? I’m not expecting anything big, maybe 20 points on the SPX? Hard too know right now.
Parker led UCLA in scoring with 28pts. UCLA could potentially play Iowa next round which would be one of Alford’s former teams. I know Iowa is the 29th state. But Gonzaga (Iowa’s opponent) seems too strong this year.
Did see them flash 11-10s and 14 5s in the game as well as the ultimate Bradley date with a 0 added.