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.
Ok… I thought you were expecting new all time highs? But you’re
not… so we agree. I seen the transports too and it’s clearly hit
resistance on the same rising trendline, so I don’t think it’s going
higher. The SPX should pullback too and not make a new high. But I’m
not looking for some crash move down… more like a steady trend change
that just keeps both sides guessing the direction.
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.
—
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.
Ok… I thought you were expecting new all time highs? But you’re
not… so we agree. I seen the transports too and it’s clearly hit
resistance on the same rising trendline, so I don’t think it’s going
higher. The SPX should pullback too and not make a new high. But I’m
not looking for some crash move down… more like a steady trend change
that just keeps both sides guessing the direction.