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The target remains the 200 dma, which I think will be around 1610 SPX by next Thursday the 17th as it’s around 1600 now and rising. So if they fail to reach a deal here over this weekend then I’d expect the market to start going back down until they do… which I suspect will be done at the last minute on the 17th just when the market bottoms at the 200 dma. Once the deal is reach the market should rip high in a big rally.
I think we’ll go back down next week as the fear continues about the debt ceiling. This whole move up looks pretty impulsive too me, and that indicates it won’t last. While past history of candle patterns say that we should have a slightly higher high on Monday (this assumes a close up here in this area today) I get the feeling they won’t.
If no real progress is made over the weekend we could see this come tumbling back down Monday morning with no bears short and all the bulls long. Surprises and misdirection is the name of the game here and it’s probably wise to exit all longs today and take a small short over the weekend in case TSHF…
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ILLUMINATI.
Are u a business man, politician,
musical, student and you want to be rich,
powerful and be famous in life. You achieve
your dreams by being a member of the
illuminati With this all your dream and heart desire can be fully accomplish, if u really
want to be a member of the great illuminati
then
you contact Mr WILLAMS JEFFERY through the cell phone +2348163974382 or
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Tesla Chart analysis: http://niftychartsandpatterns.blogspot.in/2013/10/tesla-support-and-resistance-levels.html
Bank of America weekend update: http://niftychartsandpatterns.blogspot.in/2013/10/bank-of-america-weekend-update.html
The target remains the 200 dma, which I think will be around 1610 SPX by next Thursday the 17th as it’s around 1600 now and rising. So if they fail to reach a deal here over this weekend then I’d expect the market to start going back down until they do… which I suspect will be done at the last minute on the 17th just when the market bottoms at the 200 dma. Once the deal is reach the market should rip high in a big rally.
“NO DEAL”we should have went short on Friday … DARN!
I am thinking about 1000 points drop!
SnP should test 1550 line.
New FP… http://screencast.com/t/poDzUyzkPmmN
I think we’ll go back down next week as the fear continues about the debt ceiling. This whole move up looks pretty impulsive too me, and that indicates it won’t last. While past history of candle patterns say that we should have a slightly higher high on Monday (this assumes a close up here in this area today) I get the feeling they won’t.
If no real progress is made over the weekend we could see this come tumbling back down Monday morning with no bears short and all the bulls long. Surprises and misdirection is the name of the game here and it’s probably wise to exit all longs today and take a small short over the weekend in case TSHF…
Gold chart analysis: http://niftychartsandpatterns.blogspot.in/2013/10/gold-head-and-shoulders-pattern.html
Is this what our markets have become?
http://www.zerohedge.com/sites/default/files/images/user3303/imageroot/2013/10/20131010_ES3_0.jpg
http://www.zerohedge.com/news/2013-10-10/stocks-collapse-after-obama-rejects-republican-proposal
I sent it to your email around 2:30 pm today (est) so look for it in your spam folder if you didn’t get it.