today was manipulation plain as day. Everything she said would have tanked a market operating under free will. Of course she has no intention of actually tapering the taper, her blathering was necessary to setup the market going into free fall so then she can be the great savior later down the road when she keeps the welfare program afloat and the market goes up again, but meanwhile the insiders will grab a large chunk of wealth on the downside. Today was just needed to shake out the last of the bears (sheeple class) so hopefully some of us went short!
That’s too far out for a turn to be accurate with Legatus. Either we bottomed at the meeting just one day before it started on the 5th (the meeting was the 6th-8th) or we top today just 2 trading days after the meeting ends.
If we bottomed then we should be going up for several months and make new all times highs. If we top today then we must break the low. While Legatus isn’t accurate 100% of the time on turns it’s above 70% from my research. So the question is… will it be a bottom or a top this time, or just a failure to produce an important turn?
I would wait until 1770 is breached for confirmation Keep in mind the day we put in the current high was not an important day Red.And we’ve been hugging the 1800 level for awhile. Think about it this way, If yellen says something to drop the Market, every vear and then some, will go heavy short. However, if the H&S plays out with a bullish bias, we could make a new high around the 20th.. Another double 11, and more fitting day to put a high in on/ Plus. at that point, I don’t know what bear would be left. This is my take. Or a lowert high wouldmake more sense. Maybe 1820/30 area for a final squeeze,
Down move seems right, your target for the time frame just sounds a little too extreme. Maybe by March sometime. However, for gamblers, if we pop tomorrow, those 2/28 170puts will likely be .25 or less. so 20x your money
Is it just me or is this choppy sideways action that’s forming a perfect bull flag just a little too obvious? While there should be bears’ stops sitting just above 1798 SPX they’ve had all day to close them up now. What if there’s not hardly any left as they could have switched to bulls and went long assuming the bull flag means a guaranteed breakthrough to 1800 and more?
While I still think we will breakthrough I’m a little concerned about how high they will go up? If there is a lot of bears’ stops overhead then they could easily squeeze them to 1816-1826 area. But if there’s hardly none then we could just barely clear the area and drop back hard the rest of the day.
Let’s also pay attention to the time that Janet Yellen is speaking tomorrow as that could indicate how high we go? The later in the day it is the higher it should go I think as more time equals more bears to squeeze. But, she’s speaking at 10am… which is right near the open. If she says something positive (like what… she’s going to reverse what Bernanke did and put back the $20B he withdrew?), then we could rally to the higher zone all day.
I just don’t see that happening though, which tells me we are going to get a slight pop high when she speaks and then head down the rest of the week with a target zone of 1640-1650 by the end of the month.
So if you are waiting to short just be fast on the trigger as you might not get much more upside and time then early tomorrow morning.
I’m sure many people took a short today… at least those who know about the ritual dates these guys use to put in tops.
today was manipulation plain as day. Everything she said would have tanked a market operating under free will. Of course she has no intention of actually tapering the taper, her blathering was necessary to setup the market going into free fall so then she can be the great savior later down the road when she keeps the welfare program afloat and the market goes up again, but meanwhile the insiders will grab a large chunk of wealth on the downside. Today was just needed to shake out the last of the bears (sheeple class) so hopefully some of us went short!
“Unusually High” buying of the VXX by large institutions today: http://prntscr.com/2rmfnc
They always go higher then you expect and never go as low as you think.
Well, glad I waited. We may top today, but this was nasty
That’s too far out for a turn to be accurate with Legatus. Either we bottomed at the meeting just one day before it started on the 5th (the meeting was the 6th-8th) or we top today just 2 trading days after the meeting ends.
If we bottomed then we should be going up for several months and make new all times highs. If we top today then we must break the low. While Legatus isn’t accurate 100% of the time on turns it’s above 70% from my research. So the question is… will it be a bottom or a top this time, or just a failure to produce an important turn?
I would wait until 1770 is breached for confirmation Keep in mind the day we put in the current high was not an important day Red.And we’ve been hugging the 1800 level for awhile. Think about it this way, If yellen says something to drop the Market, every vear and then some, will go heavy short. However, if the H&S plays out with a bullish bias, we could make a new high around the 20th.. Another double 11, and more fitting day to put a high in on/ Plus. at that point, I don’t know what bear would be left. This is my take. Or a lowert high wouldmake more sense. Maybe 1820/30 area for a final squeeze,
SPY Analysis after closing bell: http://niftychartsandpatterns.blogspot.in/2014/02/spy-analysis-after-closing-bell_11.html
Down move seems right, your target for the time frame just sounds a little too extreme. Maybe by March sometime. However, for gamblers, if we pop tomorrow, those 2/28 170puts will likely be .25 or less. so 20x your money
Is it just me or is this choppy sideways action that’s forming a perfect bull flag just a little too obvious? While there should be bears’ stops sitting just above 1798 SPX they’ve had all day to close them up now. What if there’s not hardly any left as they could have switched to bulls and went long assuming the bull flag means a guaranteed breakthrough to 1800 and more?
While I still think we will breakthrough I’m a little concerned about how high they will go up? If there is a lot of bears’ stops overhead then they could easily squeeze them to 1816-1826 area. But if there’s hardly none then we could just barely clear the area and drop back hard the rest of the day.
Let’s also pay attention to the time that Janet Yellen is speaking tomorrow as that could indicate how high we go? The later in the day it is the higher it should go I think as more time equals more bears to squeeze. But, she’s speaking at 10am… which is right near the open. If she says something positive (like what… she’s going to reverse what Bernanke did and put back the $20B he withdrew?), then we could rally to the higher zone all day.
I just don’t see that happening though, which tells me we are going to get a slight pop high when she speaks and then head down the rest of the week with a target zone of 1640-1650 by the end of the month.
So if you are waiting to short just be fast on the trigger as you might not get much more upside and time then early tomorrow morning.