The failure of the market to make a new high today is a very bearish sign. The volume is very low today and that usually supports the bulls. During days of light volume the market should float up but it’s not doing that today. As long as we don’t make a new high then this entire move up is just a larger wave 2 with a wave 3 down expected to start soon afterwards.
We could see some heavy selling start next week if we don’t make a new high… and so far it’s not looking like it wants too! In fact it wouldn’t shock me to see some (planned) bad news released over the weekend to cause a gap down on Monday. I’m not saying that’s going to happen of course but I wouldn’t be surprised if it did.
The Miami Thrice purposely tanked and gave up the #1 seed for the playoffs which went to Indiana. Indiana furiously flailing in round 1 and on the verge of elimination. Is Indiana representing the 1987 NCAA champion Indiana team for the ritual? Miami now a #2 seed against the 7 seed.
Lakers fired their head coach/ or he officially resigned after the Lakers lost 55 games last year (27-55 record) yesterday one day after the Sterling NBA decision and on the opposite side of the solar eclipse in LA. LA=121. His two year record: 67-87
The guy gets a lifetime ban and possibly stripped of ownership of his team for private comments that were purportedly illegally recorded although it sounds like it was produced in a professional recording studio and sounds like he’s reading from a Quentin Tarantino produced screenplay. It’s actually quite comical. NBA owners going after one of their own with the corporate controlled media universally condemning him at a fever pitch. At first, I thought it was just hype for the Clipper-Warriors playoff series with the Clippers predictably falling on their face after Sterling’s spurious comments were released last Sunday but then they brought Obozo into the mix and had high profile NBA players and owners tweeting condemnations of Sterling. Then the NBA coming down hard on him Wednesday before Game 5 of the series in LA, just ahead of solar eclipse Wednesday night curiously 709 days from the great Mayan solar eclipse of May 20, 2012 (conjunct the Pleiades) which saw a nationally televised Dodgers-STL game played under the solar eclipse in LA.
Alas the game did feature some memorable highlights like a 55-50 halftime score. And then benchwarmer Clipper #8, who had no reason for even getting into a playoff game, entered the game in the 3rd quarter and was promptly run over by Warriors player #10 flopping to the ground in dramatic fashion and eventually being removed from the floor by medical personel even though it appeared he fell cleanly to the ground. Now he has been declared out for tonight’s game. They flashed a nice 10-11 while #8 flopped to the gound, also a 10-11-22 combo.
Can’t quite find a 1987 connection to Sterling although he did buy the team in 1982 (bull market begining) for $12 million dollars so the number 31 does seem to have a recurring theme here. His girlfriend, (see above) is 31 years old. Somehow the wife is still involved in his life even though she’s suing the girlfriend and now has become the face of the franchise with Sterling’s banishment. So utterly ridiculous. And for more hilarity check out the photos above. Notice the numbers in the background including the nail salon’s address.
Also a social media infused scandal, a reflection of the current age….. the social media infused tech bubble….
I’ve been having trouble with my hosting company gang, which is why the site has been down for awhile. Anyway, I’m expecting a big move in one direction or the other after the FOMC meeting Wednesday. Don’t know which way though as while the charts are bearish still there’s also some charts that look bullish.
So it’s mixed right now and will really just be determined by what Janet Yellen says about the future and not so much the expect $10 Billion they plan to remove from the current QE program. That’s already factored in the market right now I think and that news alone shouldn’t have too much of an effect. But what she says about the future after the entire QE program ends is what WallStreet is waiting to hear.
Since we are so close to a double top I highly suspect they will go up and hit it… and if SkyNet see’s a bunch of stops just overhead you know it’s going to go through the double top (even if it’s just for a quick intraday move) and hit those shorts.
The question then remains will the market roll back down and start another wave of selling or will something Yellen says spark a powerful rally to all time new highs? I just don’t know? Charts are mostly bearish and mildly bullish, but that doesn’t matter if the Fed wants to rally. So I’m neutral for now.
I’m not expecting too much action until the FOMC meeting this Tuesday/Wednesday. If we float up into the meeting then we should continue down after the meeting. The only wildcard is if they decide to “not cut another $10 Billion” out of the current QE program, which is possible I guess, but I don’t think it’s likely this time around.
With the market up still at high levels and no real bad news on the political or economic front there doesn’t seem to be any reason to “not cut” again. Now if something happened out of Russia then yeah… they might not make the $10 Billion cut and possibly reduce it to $5 Billion or even zero.
But the way it looks right now I still fully expect them to make another round of withdraws from the ongoing QE program. That should produce another wave down with the 1800 area being my target zone.
Of course if we drop into that area prior to the FOMC meeting then I’d expect a rally from the charts being oversold. What they would say to get the rally going is not known of course but it could be something as simple as just “hinting” that they “may” stop the withdraw in the future if things don’t turn around. You all know the game by now…
Easy way to join the Illuminati brotherhood in the world.
Are you a business man or an artist,Politicians and you want to become big, Powerful and famous in the world, join us to become one of our official member today.you shall be given an ideal chance to visit the illuminati and his representative after registrations is completed by you, no sacrifice or human life needed, Illuminati brotherhood brings along wealth and famous in life, you have a full access to eradicate poverty away from your life now. it only a member who is been initiated into the church of illuminati have the authority to bring any member to the church, so before you contact any body you must be link by who is already a member, Join us today and realize your dreams. we also help out our member in protection of drugs pushing email: churchofdevililluminati@gmail.com or you contact our phone number +2347056024545,..
Once you become a member you will be rich and famous for the rest of your life, illuminati make there member happy so i will want you all to also be a member of the illuminati if you are interested contact email on churchofdevililluminati@gmail.com or you contact our phone number +2347056024545,..
Easy way to join the Illuminati brotherhood in the world.
Are you a business man or an artist,Politicians and you want to become big, Powerful and famous in the world, join us to become one of our official member today.you shall be given an ideal chance to visit the illuminati and his representative after registrations is completed by you, no sacrifice or human life needed, Illuminati brotherhood brings along wealth and famous in life, you have a full access to eradicate poverty away from your life now. it only a member who is been initiated into the church of illuminati have the authority to bring any member to the church, so before you contact any body you must be link by who is already a member, Join us today and realize your dreams. we also help out our member in protection of drugs pushing email: churchofdevililluminati@gmail.com or you contact our phone number +2347056024545
Once you become a member you will be rich and famous for the rest of your life, illuminati make there member happy so i will want you all to also be a member of the illuminati if you are interested contact email on churchofdevililluminati@gmail.com or you contact our phone number +2347056024545,…
The failure of the market to make a new high today is a very bearish sign. The volume is very low today and that usually supports the bulls. During days of light volume the market should float up but it’s not doing that today. As long as we don’t make a new high then this entire move up is just a larger wave 2 with a wave 3 down expected to start soon afterwards.
We could see some heavy selling start next week if we don’t make a new high… and so far it’s not looking like it wants too! In fact it wouldn’t shock me to see some (planned) bad news released over the weekend to cause a gap down on Monday. I’m not saying that’s going to happen of course but I wouldn’t be surprised if it did.
The Miami Thrice purposely tanked and gave up the #1 seed for the playoffs which went to Indiana. Indiana furiously flailing in round 1 and on the verge of elimination. Is Indiana representing the 1987 NCAA champion Indiana team for the ritual? Miami now a #2 seed against the 7 seed.
Lakers fired their head coach/ or he officially resigned after the Lakers lost 55 games last year (27-55 record) yesterday one day after the Sterling NBA decision and on the opposite side of the solar eclipse in LA. LA=121. His two year record: 67-87
This whole Donald Sterling/ Clippers ritual just fascinates me……..
http://www.x17online.com/gallery/view_gallery.php?gallery=Stiviano050114_x17
The guy gets a lifetime ban and possibly stripped of ownership of his team for private comments that were purportedly illegally recorded although it sounds like it was produced in a professional recording studio and sounds like he’s reading from a Quentin Tarantino produced screenplay. It’s actually quite comical. NBA owners going after one of their own with the corporate controlled media universally condemning him at a fever pitch. At first, I thought it was just hype for the Clipper-Warriors playoff series with the Clippers predictably falling on their face after Sterling’s spurious comments were released last Sunday but then they brought Obozo into the mix and had high profile NBA players and owners tweeting condemnations of Sterling. Then the NBA coming down hard on him Wednesday before Game 5 of the series in LA, just ahead of solar eclipse Wednesday night curiously 709 days from the great Mayan solar eclipse of May 20, 2012 (conjunct the Pleiades) which saw a nationally televised Dodgers-STL game played under the solar eclipse in LA.
Alas the game did feature some memorable highlights like a 55-50 halftime score. And then benchwarmer Clipper #8, who had no reason for even getting into a playoff game, entered the game in the 3rd quarter and was promptly run over by Warriors player #10 flopping to the ground in dramatic fashion and eventually being removed from the floor by medical personel even though it appeared he fell cleanly to the ground. Now he has been declared out for tonight’s game. They flashed a nice 10-11 while #8 flopped to the gound, also a 10-11-22 combo.
Can’t quite find a 1987 connection to Sterling although he did buy the team in 1982 (bull market begining) for $12 million dollars so the number 31 does seem to have a recurring theme here. His girlfriend, (see above) is 31 years old. Somehow the wife is still involved in his life even though she’s suing the girlfriend and now has become the face of the franchise with Sterling’s banishment. So utterly ridiculous. And for more hilarity check out the photos above. Notice the numbers in the background including the nail salon’s address.
Also a social media infused scandal, a reflection of the current age….. the social media infused tech bubble….
ES Chart analysis: http://niftychartsandpatterns.blogspot.in/2014/05/es-chart-analysis.html
Bank of America chart analysis: http://niftychartsandpatterns.blogspot.in/2014/04/bank-of-america-analysis-before-opening.html
I’ve been having trouble with my hosting company gang, which is why the site has been down for awhile. Anyway, I’m expecting a big move in one direction or the other after the FOMC meeting Wednesday. Don’t know which way though as while the charts are bearish still there’s also some charts that look bullish.
So it’s mixed right now and will really just be determined by what Janet Yellen says about the future and not so much the expect $10 Billion they plan to remove from the current QE program. That’s already factored in the market right now I think and that news alone shouldn’t have too much of an effect. But what she says about the future after the entire QE program ends is what WallStreet is waiting to hear.
Since we are so close to a double top I highly suspect they will go up and hit it… and if SkyNet see’s a bunch of stops just overhead you know it’s going to go through the double top (even if it’s just for a quick intraday move) and hit those shorts.
The question then remains will the market roll back down and start another wave of selling or will something Yellen says spark a powerful rally to all time new highs? I just don’t know? Charts are mostly bearish and mildly bullish, but that doesn’t matter if the Fed wants to rally. So I’m neutral for now.
CRUDE Oil chart analysis: http://niftychartsandpatterns.blogspot.in/2014/04/crude-oil-chart-analysis_29.html
I’m not expecting too much action until the FOMC meeting this Tuesday/Wednesday. If we float up into the meeting then we should continue down after the meeting. The only wildcard is if they decide to “not cut another $10 Billion” out of the current QE program, which is possible I guess, but I don’t think it’s likely this time around.
With the market up still at high levels and no real bad news on the political or economic front there doesn’t seem to be any reason to “not cut” again. Now if something happened out of Russia then yeah… they might not make the $10 Billion cut and possibly reduce it to $5 Billion or even zero.
But the way it looks right now I still fully expect them to make another round of withdraws from the ongoing QE program. That should produce another wave down with the 1800 area being my target zone.
Of course if we drop into that area prior to the FOMC meeting then I’d expect a rally from the charts being oversold. What they would say to get the rally going is not known of course but it could be something as simple as just “hinting” that they “may” stop the withdraw in the future if things don’t turn around. You all know the game by now…
Easy way to join the Illuminati brotherhood in the world.
Are you a business man or an artist,Politicians and you want to become big, Powerful and famous in the world, join us to become one of our official member today.you shall be given an ideal chance to visit the illuminati and his representative after registrations is completed by you, no sacrifice or human life needed, Illuminati brotherhood brings along wealth and famous in life, you have a full access to eradicate poverty away from your life now. it only a member who is been initiated into the church of illuminati have the authority to bring any member to the church, so before you contact any body you must be link by who is already a member, Join us today and realize your dreams. we also help out our member in protection of drugs pushing email: churchofdevililluminati@gmail.com or you contact our phone number +2347056024545,..
Once you become a member you will be rich and famous for the rest of your life, illuminati make there member happy so i will want you all to also be a member of the illuminati if you are interested contact email on churchofdevililluminati@gmail.com or you contact our phone number +2347056024545,..
Easy way to join the Illuminati brotherhood in the world.
Are you a business man or an artist,Politicians and you want to become big, Powerful and famous in the world, join us to become one of our official member today.you shall be given an ideal chance to visit the illuminati and his representative after registrations is completed by you, no sacrifice or human life needed, Illuminati brotherhood brings along wealth and famous in life, you have a full access to eradicate poverty away from your life now. it only a member who is been initiated into the church of illuminati have the authority to bring any member to the church, so before you contact any body you must be link by who is already a member, Join us today and realize your dreams. we also help out our member in protection of drugs pushing email: churchofdevililluminati@gmail.com or you contact our phone number +2347056024545
Once you become a member you will be rich and famous for the rest of your life, illuminati make there member happy so i will want you all to also be a member of the illuminati if you are interested contact email on churchofdevililluminati@gmail.com or you contact our phone number +2347056024545,…