This bleep is so predictable. They pop the market everyday Tuesday of a fed meeting.
I have wanted to add that the Australian dollar has been crushed lately. Another sign of the end times. The euro as well but it was leading the Aussie. Today, the Aussie is popping bigtime but it was relentlessly dropping day after day below its lower BB since currency opex a few weeks ago.
Forgot to add to my NFL opening game review that they were highlighting the PEDHawks special #12 during the broadcast. When #24 scored to take the score to 29-10, the endzone he scored on had 2 12s displayed in the background.
Although I didn’t watch much of the game so didn’t notice but the 1929 champion GB Packers did promote #19 to their starting 3 WR sets so on many plays they should have 19 87 18 lined up but don’t know if they had 19 87 lined up on any plays. #87 did have a big day for them on Sunday with something like 209 yards receiving and a long touchdown. Might need to review the tape for any numerological formations. #18 scored 2 TDs as well against NY or 18-18 ie 99 ie 29.
The low came this morning so today is not the best day to short I think. Thursday still looks to be the top as this strong move up was likely some kind of wave 3. There should be a wave 4 down and a final wave 5 up happen before we tank. I’m passing on shorting the wave 4 down as the risk/reward isn’t good enough for me. I’ll wait until Thursday now.
We should see a little bit more on the upside tomorrow (most likely in the first half of the day) and then rollover and go back down with a slightly higher high expected then the low today. Meaning if we get up to 1990-1993 SPX it’s a short down to just above 1978.
It should be safe to hold your short position into Wednesday morning for that low to be hit. Then exit for the rally prior to and after the FOMC minutes at 2pm. Thursday should rally up a little more then Wednesday and should also be higher then Tuesday’s high. Estimated high is 1995-1998 area (but I wouldn’t rule out some quick move up to hit 2000 one last time).
Another short can be taken in that high zone on Thursday and not sold until the end of the first week of October. By then I’m expecting a low below 1700 SPX before a one week rally to start.
I think the plans have changed now. It appears they are going to delay this drop one week. I’m now looking for next Friday to be the start of the big drop. We should bounce Monday and then slightly top on Tuesday. Then down into Wednesday morning, back up on Thursday to put in a double top from Tuesdays high… which could be around 1995 area.
Thursday appears to be the best day to take a short for a really big drop. I was expecting it to happen today and Monday but “they” aren’t allowing it, But a big drop is still coming and I’ll be ready to short again on the 18th. Until then it’s just short one day trades for me… in and out.
This whole choppy action of up down up down for the last 3 days is just a nice bear flag. The question is “When will it breakdown?” I still think we are going down as previously stated but they might hold the market up today and drop it into Monday.
However I would expect today to close down with the recent 1983 low holding (if they plan to hold it?). But there’s still a possibility that they will chop around all day and then tank it into the close after most traders have left for the weekend. They are very sneaky as we all know but pattern wise this big bear flag should breakdown by Monday or the close today.
Geccko, does this TRIN look bullish to you (for the SPX I mean) ? http://stockcharts.com/h-sc/ui?s=$TRIN&p=D&b=5&g=0&id=p83083657167
This bleep is so predictable. They pop the market everyday Tuesday of a fed meeting.
I have wanted to add that the Australian dollar has been crushed lately. Another sign of the end times. The euro as well but it was leading the Aussie. Today, the Aussie is popping bigtime but it was relentlessly dropping day after day below its lower BB since currency opex a few weeks ago.
Forgot to add to my NFL opening game review that they were highlighting the PEDHawks special #12 during the broadcast. When #24 scored to take the score to 29-10, the endzone he scored on had 2 12s displayed in the background.
Although I didn’t watch much of the game so didn’t notice but the 1929 champion GB Packers did promote #19 to their starting 3 WR sets so on many plays they should have 19 87 18 lined up but don’t know if they had 19 87 lined up on any plays. #87 did have a big day for them on Sunday with something like 209 yards receiving and a long touchdown. Might need to review the tape for any numerological formations. #18 scored 2 TDs as well against NY or 18-18 ie 99 ie 29.
SPX Update: http://screencast.com/t/EBKTqjCfzEJW
SPY Update: http://screencast.com/t/ADiYnPn3
The low came this morning so today is not the best day to short I think. Thursday still looks to be the top as this strong move up was likely some kind of wave 3. There should be a wave 4 down and a final wave 5 up happen before we tank. I’m passing on shorting the wave 4 down as the risk/reward isn’t good enough for me. I’ll wait until Thursday now.
We should see a little bit more on the upside tomorrow (most likely in the first half of the day) and then rollover and go back down with a slightly higher high expected then the low today. Meaning if we get up to 1990-1993 SPX it’s a short down to just above 1978.
It should be safe to hold your short position into Wednesday morning for that low to be hit. Then exit for the rally prior to and after the FOMC minutes at 2pm. Thursday should rally up a little more then Wednesday and should also be higher then Tuesday’s high. Estimated high is 1995-1998 area (but I wouldn’t rule out some quick move up to hit 2000 one last time).
Another short can be taken in that high zone on Thursday and not sold until the end of the first week of October. By then I’m expecting a low below 1700 SPX before a one week rally to start.
SPX target after top on this Wednesday/Thursday: http://reddragonleo.com/wp-content/uploads/ES-1679-mar9b.jpg Time frame: 2-3 weeks.
ES Futures Update: http://screencast.com/t/H6sIDYBbBLAj
I think the plans have changed now. It appears they are going to delay this drop one week. I’m now looking for next Friday to be the start of the big drop. We should bounce Monday and then slightly top on Tuesday. Then down into Wednesday morning, back up on Thursday to put in a double top from Tuesdays high… which could be around 1995 area.
Thursday appears to be the best day to take a short for a really big drop. I was expecting it to happen today and Monday but “they” aren’t allowing it, But a big drop is still coming and I’ll be ready to short again on the 18th. Until then it’s just short one day trades for me… in and out.
This whole choppy action of up down up down for the last 3 days is just a nice bear flag. The question is “When will it breakdown?” I still think we are going down as previously stated but they might hold the market up today and drop it into Monday.
However I would expect today to close down with the recent 1983 low holding (if they plan to hold it?). But there’s still a possibility that they will chop around all day and then tank it into the close after most traders have left for the weekend. They are very sneaky as we all know but pattern wise this big bear flag should breakdown by Monday or the close today.