While I’m sure there will be some bounces along the way I don’t see an important bottoming area to go long at until around 1800 spx. The bounces from now until there should be shorted I believe. Then we’ll see what happens around 1800 before deciding on whether to go long or just exit shorts and wait to see if a rally starts or just a sideways chop (which would make a bear flag of course and then we’d see more selling).
Today is Soyuz 1/Gravity day. I noticed in the news that US astronauts are doing a space walk on the ISS a not so subtle reference to the Gravity flick when Clooney’s character breaks the alltime space walk record while US astronauts are performing repairs on the Hubble telescope. Later, the survivors venture over to the ISS hoping to take a ride back home on one of the Soyuz capsules. Tomorrow will be the 47 year 1 day anniversary ie 111. Oh and we had the grand cross today which I noticed most of the astro experts have conveniently ignored. I knew we were in trouble when this post popped up on Sunday in congruence with astro energy dude’s posts on the imminent demise of the stock market. And then Jeff Cooper with his “free” article last Friday on a possible waterfall decline for the markets. But I just saw another Dow 1700 ad over at DE’s so the bears can achieve some solace. Nothing special astro wise occurred April 21st, the meat of the event is occurring right 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.
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
While I’m sure there will be some bounces along the way I don’t see an important bottoming area to go long at until around 1800 spx. The bounces from now until there should be shorted I believe. Then we’ll see what happens around 1800 before deciding on whether to go long or just exit shorts and wait to see if a rally starts or just a sideways chop (which would make a bear flag of course and then we’d see more selling).
Today is Soyuz 1/Gravity day. I noticed in the news that US astronauts are doing a space walk on the ISS a not so subtle reference to the Gravity flick when Clooney’s character breaks the alltime space walk record while US astronauts are performing repairs on the Hubble telescope. Later, the survivors venture over to the ISS hoping to take a ride back home on one of the Soyuz capsules. Tomorrow will be the 47 year 1 day anniversary ie 111. Oh and we had the grand cross today which I noticed most of the astro experts have conveniently ignored. I knew we were in trouble when this post popped up on Sunday in congruence with astro energy dude’s posts on the imminent demise of the stock market. And then Jeff Cooper with his “free” article last Friday on a possible waterfall decline for the markets. But I just saw another Dow 1700 ad over at DE’s so the bears can achieve some solace. Nothing special astro wise occurred April 21st, the meat of the event is occurring right 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