Well a day like today would be expected to clear out the shorts before a big move down and I have a LOT of hits for tomorrow 3-19. The Greek stock market was down 4% and approaching its recent lows despite today’s hoopla in the US markets.
3-19 will be the last time we’ll see a 22 for the year or a Fahrenheit 4-15 or 46 (Tebow 316—3-19 will be 3years2monts11(511) days from his big 316 playoff game against the Steelers. Plus, we know they love their #19s especially in conjunction with moments of denouement. Especially on the eve of a solar eclipse on the vernal equinox with a Pluto Uranus square in hand.
3-19 also 3-10 or 13 or even Kubrick’s 1921 Photo from the Shining.
Tomorrow is also 1519 tds from the 3-6-9 low or 6years 13 days (64) ago. So So much more numerology but let’s see how things materialize.
Yeah… obviously I didn’t go short after I seen it blow through that 2082 area like hot butter! At this point I’m just waiting to see what the end of the day does. It might go a little higher Thursday morning too? Hard too say right now? A double top seems like the plan of action but they still might back down for a day or so before blasting through?
Historically we all know that most FOMC days close positive and near the high for the day. So will this time be different? I don’t know the answer there but even if we do close up I’m just not believing that we are going to continue up toward new highs the rest of this week and into next week.
The monthly and weekly charts don’t look the same as they did during the previous rallies. They are currently much more bearish looking and I don’t get the feeling we have much more left on the upside. Possibly we do rally into the close today from whatever the Fed’s say at 2pm but I don’t see the rest of the week and some big continuation squeeze up.
In fact I wouldn’t be surprised if we don’t stay under the falling trendline of resistance I’ve shown several times that’s currently in the 2082 area on the SPX. If we hit it into the close today (or even Thursday morning) I’m going to become bearish again and look to short it.
These trendlines of resistance are usually broken with some type of news prior to the market open so they can just gap over the level as opposed to attempting to pierce through them. Since I don’t see much more “market moving news” this week (the Jobless Claims Thursday at 8:30am doesn’t pull much weight anymore it seems) the current FOMC minutes being released today at 2pm should give the market the biggest adrenaline shot.
Once it wears off (probably by the close) you have ask yourself what’s going to spark a further rally on Thursday or Friday? If the market was oversold then that might be a reason but the market is neutral to becoming overbought on the short term and very overbought on the monthly and weekly charts.
Then there’s “What would SkyNet do?” (not to be confused with “what would Seth Godin do”… LOL). I think too many people here are expecting another blowoff rally to happen just like how the last 3 months produced those insane moves up with no decent pullbacks to ride the bulls’ back.
As we all remember those crazy moves up they were relentless without any compassion to let a trapped bear out or a want-a-bee bull in. This current rally feels (and looks) different. There’s no energy in it. The volume levels are ridiculously low, which should tell you that the big institutions aren’t buying much stock at these levels.
So I’m going with a short should the SPX go up and hit this falling trendline around 2082 currently. I see nothing tomorrow to spark a further rally. Any move up today into that zone should exhaust the bulls and leave them open for a move down to start on Thursday. This all assumes there’s nothing major said at the FOMC meeting today.
Ok, yesterday we hit the upper falling trendline that I suggested we’d hit in the chart I posted. I then thought we’d go down to the area we are at now. So at this point I think we’ll find our low by noon today and then go back up into tomorrow.
While I’m not expecting another big move up I am expecting very little selling with an upward bias until after the FOMC minutes are release at 2pm Wednesday. Since I’m not expecting them to say anything to scare the market I’m also not expecting any big move to immediately follow.
History tells us that 80-90% of the FOMC days close day near the highs for that day. Then 1-2 days later we usually see a turn back down. The charts could be nice and overbought by then and if allowed to work then we could have another down Friday this week too? Don’t know yet but as for right now I’m expecting a bottom very soon here and a move up into Wednesday.
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It looks like they finally did some stop clearing in the euro as well.
Well a day like today would be expected to clear out the shorts before a big move down and I have a LOT of hits for tomorrow 3-19. The Greek stock market was down 4% and approaching its recent lows despite today’s hoopla in the US markets.
3-19 will be the last time we’ll see a 22 for the year or a Fahrenheit 4-15 or 46 (Tebow 316—3-19 will be 3years2monts11(511) days from his big 316 playoff game against the Steelers. Plus, we know they love their #19s especially in conjunction with moments of denouement. Especially on the eve of a solar eclipse on the vernal equinox with a Pluto Uranus square in hand.
3-19 also 3-10 or 13 or even Kubrick’s 1921 Photo from the Shining.
Tomorrow is also 1519 tds from the 3-6-9 low or 6years 13 days (64) ago. So So much more numerology but let’s see how things materialize.
Yeah… obviously I didn’t go short after I seen it blow through that 2082 area like hot butter! At this point I’m just waiting to see what the end of the day does. It might go a little higher Thursday morning too? Hard too say right now? A double top seems like the plan of action but they still might back down for a day or so before blasting through?
wow over 2100
Historically we all know that most FOMC days close positive and near the high for the day. So will this time be different? I don’t know the answer there but even if we do close up I’m just not believing that we are going to continue up toward new highs the rest of this week and into next week.
The monthly and weekly charts don’t look the same as they did during the previous rallies. They are currently much more bearish looking and I don’t get the feeling we have much more left on the upside. Possibly we do rally into the close today from whatever the Fed’s say at 2pm but I don’t see the rest of the week and some big continuation squeeze up.
In fact I wouldn’t be surprised if we don’t stay under the falling trendline of resistance I’ve shown several times that’s currently in the 2082 area on the SPX. If we hit it into the close today (or even Thursday morning) I’m going to become bearish again and look to short it.
These trendlines of resistance are usually broken with some type of news prior to the market open so they can just gap over the level as opposed to attempting to pierce through them. Since I don’t see much more “market moving news” this week (the Jobless Claims Thursday at 8:30am doesn’t pull much weight anymore it seems) the current FOMC minutes being released today at 2pm should give the market the biggest adrenaline shot.
Once it wears off (probably by the close) you have ask yourself what’s going to spark a further rally on Thursday or Friday? If the market was oversold then that might be a reason but the market is neutral to becoming overbought on the short term and very overbought on the monthly and weekly charts.
Then there’s “What would SkyNet do?” (not to be confused with “what would Seth Godin do”… LOL). I think too many people here are expecting another blowoff rally to happen just like how the last 3 months produced those insane moves up with no decent pullbacks to ride the bulls’ back.
As we all remember those crazy moves up they were relentless without any compassion to let a trapped bear out or a want-a-bee bull in. This current rally feels (and looks) different. There’s no energy in it. The volume levels are ridiculously low, which should tell you that the big institutions aren’t buying much stock at these levels.
So I’m going with a short should the SPX go up and hit this falling trendline around 2082 currently. I see nothing tomorrow to spark a further rally. Any move up today into that zone should exhaust the bulls and leave them open for a move down to start on Thursday. This all assumes there’s nothing major said at the FOMC meeting today.
http://screencast.com/t/dBUH4gR7
Ok, yesterday we hit the upper falling trendline that I suggested we’d hit in the chart I posted. I then thought we’d go down to the area we are at now. So at this point I think we’ll find our low by noon today and then go back up into tomorrow.
While I’m not expecting another big move up I am expecting very little selling with an upward bias until after the FOMC minutes are release at 2pm Wednesday. Since I’m not expecting them to say anything to scare the market I’m also not expecting any big move to immediately follow.
History tells us that 80-90% of the FOMC days close day near the highs for that day. Then 1-2 days later we usually see a turn back down. The charts could be nice and overbought by then and if allowed to work then we could have another down Friday this week too? Don’t know yet but as for right now I’m expecting a bottom very soon here and a move up into Wednesday.
WELCOME TO ILLUMINATI FRATERNITY OF THE RICHES, is the world oldest and largest fraternity made up of Millions Members.We are one Family under one master who is the Supreme Being.In Illuminati we believe that we were born in paradise and no member should struggle in this world.join the illuminati today to get $25000 every 3 days and $1000000 monthly as membership blessing contact the following email: famousilluminatiworldwide@gmail.com, Join us today and accomplish your dreams..
WELCOME TO ILLUMINATI FRATERNITY OF THE RICHES, is the world oldest and largest fraternity made up of Millions Members.We are one Family under one master who is the Supreme Being.In Illuminati we believe that we were born in paradise and no member should struggle in this world.join the illuminati today to get $25000 every 3 days and $1000000 monthly as membership blessing contact the following email: famousilluminatiworldwide@gmail.com, Join us today and accomplish your dreams….
WELCOME TO ILLUMINATI FRATERNITY OF THE RICHES, is the world oldest and largest fraternity made up of Millions Members.We are one Family under one master who is the Supreme Being.In Illuminati we believe that we were born in paradise and no member should struggle in this world.join the illuminati today to get $25000 every 3 days and $1000000 monthly as membership blessing contact the following email: famousilluminatiworldwide@gmail.com, Join us today and accomplish your dreams.
SPX Update: http://screencast.com/t/thKNg5coV