The bulls sure are fighting hard here. But so far the high on the SPX is still intact… at least for now I guess. It’s very tricky here and I don’t know what the game plan is but as long as they don’t break Tuesday’s 1884.89 high I’m thinking we have topped in the short term.
Again, I’m not expecting any big selloff to start here as you know how they love to trick the bulls and bears alike before a big move. All I’m expecting is wild choppy swings until the end of this week with the high on Tuesday holding. Then next week we should see some more action to the downside I think.
Apple and Facebook report after the close and we have a bear flag on the market now. Will it play out? I don’t know but the odds favor the bears in my opinion
No Permabear, I’m neutral just like you. But tomorrow may be a different story? If no higher high is made (then today’s high) I will be looking to short it. It could go up a little more but I don’t see a new all time high as I think 1897 will stand for now.
The bulls sure are fighting hard here. But so far the high on the SPX is still intact… at least for now I guess. It’s very tricky here and I don’t know what the game plan is but as long as they don’t break Tuesday’s 1884.89 high I’m thinking we have topped in the short term.
Again, I’m not expecting any big selloff to start here as you know how they love to trick the bulls and bears alike before a big move. All I’m expecting is wild choppy swings until the end of this week with the high on Tuesday holding. Then next week we should see some more action to the downside I think.
ES update: http://niftychartsandpatterns.blogspot.in/2014/04/es-chart-analysis_24.html
New penny stock pick alert went out tonight… check your email in the morning.
Apple and Facebook report after the close and we have a bear flag on the market now. Will it play out? I don’t know but the odds favor the bears in my opinion
Here’s a possible scenario: http://screencast.com/t/agOb5fo6Cky
Gold analysis: http://niftychartsandpatterns.blogspot.in/2014/04/gold-trend-analysis.html
ES Charts: http://niftychartsandpatterns.blogspot.in/2014/04/es-chart-analysis_23.html
Netflix chart analysis: http://niftychartsandpatterns.blogspot.in/2014/04/netflix-analysis-after-closing-bell.html
No Permabear, I’m neutral just like you. But tomorrow may be a different story? If no higher high is made (then today’s high) I will be looking to short it. It could go up a little more but I don’t see a new all time high as I think 1897 will stand for now.
No, I AM expecting new highs.
The transports is AT new highs..and the other indexes will largely follow.
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Are you shorting this market right now? Just curious.
For the record, I’m content to just sit it out, probably for some weeks, maybe even mid June.