The market looks so bearish right now… it’s crazy! I even “feel” all the negative thoughts being broadcast from the cell phone towers saying “crash, crash, go short”… which tells me (now as the past I would have went short and lost) even more that they are getting ready to rip this up into some huge rally day. All that is needed now is some positive news event or data, and I think we’ll see that happen tomorrow
If I’m wrong then I guess we’ll crash like the constant EMF bombardment is saying is going to happen. By the way, I’m not making this up. “They” have the ability to use the cell phone tower to seen a signal into your head that makes you think bullish or bearish… or whatever thought they want to planet in your mind. Naturally it affects weak minded people the most but no one is protected fully from it’s effects.
The jobs data will likely be spun positive tomorrow to get the rally started. The inverted head and shoulders pattern has formed now and all we need is a “reason” to gap up over 1700 SPX, which tomorrow’s boat load of data will likely be blamed as that “reason”. Failure to rally tomorrow tells me this market is much weaker then I thought and should then drop and break the current horizontal support area… but I give the strongest odds to the bulls.
What I see here happening is the market trying to make an inverted head and shoulders pattern. The head was yesterday’s low at 1682 SPX and the left shoulder was either the 1683 low, 1686 low or the 1684 low from 2-6 days ago. The charts aren’t all aligned bullish yet but if they go down and make the right shoulder they should be then getting close to a rally starting.
However, I’m not sure if they will breakthrough the 1700 SPX level this week as it looks to be tough resistance the first hit. So possibly we dip down today and tomorrow to complete the right shoulder and then rally back up some on Friday. Then next week we should see the breakout and the run for a new high.
Sorry was so enraptured by the 72 number that I overlooked that 3Pi is 1080 degrees.
The market looks so bearish right now… it’s crazy! I even “feel” all the negative thoughts being broadcast from the cell phone towers saying “crash, crash, go short”… which tells me (now as the past I would have went short and lost) even more that they are getting ready to rip this up into some huge rally day. All that is needed now is some positive news event or data, and I think we’ll see that happen tomorrow
If I’m wrong then I guess we’ll crash like the constant EMF bombardment is saying is going to happen. By the way, I’m not making this up. “They” have the ability to use the cell phone tower to seen a signal into your head that makes you think bullish or bearish… or whatever thought they want to planet in your mind. Naturally it affects weak minded people the most but no one is protected fully from it’s effects.
Strange move down… http://screencast.com/t/c4pKh3fUIA1
The jobs data will likely be spun positive tomorrow to get the rally started. The inverted head and shoulders pattern has formed now and all we need is a “reason” to gap up over 1700 SPX, which tomorrow’s boat load of data will likely be blamed as that “reason”. Failure to rally tomorrow tells me this market is much weaker then I thought and should then drop and break the current horizontal support area… but I give the strongest odds to the bulls.
ES Futures and SPX update… http://screencast.com/t/aWKtiBAjURq8
What I see here happening is the market trying to make an inverted head and shoulders pattern. The head was yesterday’s low at 1682 SPX and the left shoulder was either the 1683 low, 1686 low or the 1684 low from 2-6 days ago. The charts aren’t all aligned bullish yet but if they go down and make the right shoulder they should be then getting close to a rally starting.
However, I’m not sure if they will breakthrough the 1700 SPX level this week as it looks to be tough resistance the first hit. So possibly we dip down today and tomorrow to complete the right shoulder and then rally back up some on Friday. Then next week we should see the breakout and the run for a new high.
Try using Jing by Techsmith. You then be able to upload it screencast.com and get a link to post of the graph.
APPLE Support and Resistance levels: http://niftychartsandpatterns.blogspot.in/2013/08/apple-support-and-resistance-levels_14.html
Sorry my graph would not come on.
ES Chart analysis: http://niftychartsandpatterns.blogspot.in/2013/08/es-range-and-support-levels.html