Nevermind shorting it now… we hit a double bottom and held. Now possibly we’ll see an ABC rally up to that 2000 area for the 38.2% FIB but it might not happen until Wednesday. But make no mistake… the market should make another lower low this week.
I’m looking for a short now as it’s not looking good for a move up to 2000, nor 1995 again. The market is stuck in a triangle on the 5 minute chart and I don’t think it’s going to breakout of it, but instead I suspect we will breakdown before the close. On the next bounce up to hit the top of the trendline I’ll be looking to get short. I think we’ll breakdown by 1 or 2 pm today.
We had our gap down to complete the 5th wave inside a larger wave 1 (this assumes the high is in right now and the FP on the NYA won’t be hit). So I’m looking for an ABC move complete the wave 2 up. It should be weak though, maybe only going to 2000 SPX area. Then another move down into the close is expected.
Trying to be open minded here for a “possible” move up to the FP range on the
NYA of 11,3300 but it doesn’t seem likely if with such a bearish chart as this…
So while I’m still expecting a bounce Tuesday at some point I don’t think it will hold nor do I think it’s worth going long on. I only think that “if” we gap down first we’ll complete 5 waves down and allow for a move up to happen. But after that’s done I think we are going lower.
I think the low is in now. We should rally back up some the rest of the day but not huge. The short term charts are still bearish. We should certainly close the day in the negative but probably up some from here. Then Tuesday we could (should) go down again in the morning to retest today’s low (should make a slightly higher low but not guaranteed of course).
Then I could see a rally start the rest of the day as we all know how trick “Turnaround Tuesday” is. I’m out of all shorts now and will wait for another setup to go short or long… whatever the market gives me.
Last week I was very bearish thinking the market topped at the prior high of 2011 but we made a new high so now I’m neither bearish or bullish on the bigger picture. I’m just playing it day to day until I get a better read on the charts. I will say that we could still go up to the FP on the NYA of 11330 before topping (as hard as that is to believe… LOL).
Nevermind shorting it now… we hit a double bottom and held. Now possibly we’ll see an ABC rally up to that 2000 area for the 38.2% FIB but it might not happen until Wednesday. But make no mistake… the market should make another lower low this week.
I’m looking for a short now as it’s not looking good for a move up to 2000, nor 1995 again. The market is stuck in a triangle on the 5 minute chart and I don’t think it’s going to breakout of it, but instead I suspect we will breakdown before the close. On the next bounce up to hit the top of the trendline I’ll be looking to get short. I think we’ll breakdown by 1 or 2 pm today.
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where can i find old silver fake print charts?
We had our gap down to complete the 5th wave inside a larger wave 1 (this assumes the high is in right now and the FP on the NYA won’t be hit). So I’m looking for an ABC move complete the wave 2 up. It should be weak though, maybe only going to 2000 SPX area. Then another move down into the close is expected.
DOW Transports look very, very bearish: http://stockcharts.com/public/1092905/chartbook/271819703;
Trying to be open minded here for a “possible” move up to the FP range on the
NYA of 11,3300 but it doesn’t seem likely if with such a bearish chart as this…
So while I’m still expecting a bounce Tuesday at some point I don’t think it will hold nor do I think it’s worth going long on. I only think that “if” we gap down first we’ll complete 5 waves down and allow for a move up to happen. But after that’s done I think we are going lower.
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“Ebola, AIDS Manufactured By Western Pharmaceuticals, US DoD?”*.
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Ebola Will be Brought to the USA, Mandatory Vaccine, Martial Law!
https://www.youtube.com/watch?feature=player_embedded&v=wdbSmlpDsP0
Quick 5 minute video update for the SPX: http://screencast.com/t/IqKAuru6fz
I think the low is in now. We should rally back up some the rest of the day but not huge. The short term charts are still bearish. We should certainly close the day in the negative but probably up some from here. Then Tuesday we could (should) go down again in the morning to retest today’s low (should make a slightly higher low but not guaranteed of course).
Then I could see a rally start the rest of the day as we all know how trick “Turnaround Tuesday” is. I’m out of all shorts now and will wait for another setup to go short or long… whatever the market gives me.
Last week I was very bearish thinking the market topped at the prior high of 2011 but we made a new high so now I’m neither bearish or bullish on the bigger picture. I’m just playing it day to day until I get a better read on the charts. I will say that we could still go up to the FP on the NYA of 11330 before topping (as hard as that is to believe… LOL).