We are real close to a short term bottom I think… probably tomorrow morning we’ll see it hit. Then we rally for awhile. Don’t know yet how long but we could rally for only a few days and go back down lower or continue a choppy rally into October.
Always wild swings when the FOMC minutes come out, but usually the first move is the “mis-direction” move. We were looking for around 1630 spx to test the lower trendline on the rising channel of the daily chart so possibly they hit it today? Or the down move ends later this week after some small bounce today and then back down?
Clearly we have a little further down we can go on this daily chart but I do believe the bulls will show up around the lower trendline (about 1630 SPX) in this rising channel. http://stockcharts.com/public/1092905/chartbook/254097560;
We are real close to a short term bottom I think… probably tomorrow morning we’ll see it hit. Then we rally for awhile. Don’t know yet how long but we could rally for only a few days and go back down lower or continue a choppy rally into October.
$SPX 100 dma now @ 1633.84……..everyone is watching it……..
All my best; Seawind
Always wild swings when the FOMC minutes come out, but usually the first move is the “mis-direction” move. We were looking for around 1630 spx to test the lower trendline on the rising channel of the daily chart so possibly they hit it today? Or the down move ends later this week after some small bounce today and then back down?
Clearly we have a little further down we can go on this daily chart but I do believe the bulls will show up around the lower trendline (about 1630 SPX) in this rising channel. http://stockcharts.com/public/1092905/chartbook/254097560;
I don’t know Rose? That’s a good question, but I suspect he’s just looking for some type of topping tail on the weekly charts’ candle pattern.
Red, what did Ali mean by setup bar on aug20
SPY Update… http://screencast.com/t/Gb8L9uQQcNj
ES Charts: http://niftychartsandpatterns.blogspot.in/2013/08/s-500-futures-support-and-resistance.html
LA rookie sensation Puig #66 in Miami for the week. Heard he was partying with Lebron into the wee hours Monday morning.
Partying July 4 1921 Overlook Hotel style. REDRUM!!!!!
Oh, the Nikkei has done an about face early in its session.
Ford Chart Analysis: http://niftychartsandpatterns.blogspot.in/2013/08/ford-testing-up-trend-line.html
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