I am conflicted. It looks like the stock indices should put in one more big white upbar to get above the late June high (SP 1654) but 60 min RSI is already extreme and crude oil looks like it topped. The euro is also bouncing around its lower BB and not to far from its weekly lower BB.
There was a red flag today with the SOX down around 2.2%.
Interesting……..crude oil could be topping out here at $104.
In May 2011, it topped at $114 and the alltime high on July 7,2008 was made at $149 so alot of vibrations made around the 14 number. It also put in the many white upbars in a row pattern culminating in the biggest upbar on Friday when the entire bar was made above the upper BB.
There’s a chance today could be the rebound high. No decision has made by the euro finance minister’s meeting so far and it is hard to get any information on it anyway. And the trollosphere has been unusually silent on the matter so far. Normally, they like to promote these quagmires before they get resolved and the short squeeze ramp ensues. A decision could be put off until after the close.
Nasdaq is only up one point. SP up eight. I’d expect that today would have been a bigger up day. I need to investigate some things first though.
Guys, building a short position here is the best think to do I think as we very close to the top. Picking the exact top is very hard but a zone seems easier… which I feel we are in that zone now. Also, date wise Tuesday is another “eleven” day and then Wednesday they will re-release the prior FOMC minutes from last month… so tomorrow could be the high and then with nothing new expected from Bernanke on Wednesday I think we’ll start selling off some.
did any one see the fake print at cnbc on Friday night?
Someone on GLP posted a snapshot of the fake print of silver, i then visited the cnbc site with my cell and confirm it was there and i also took a snap shot with my cell.
I am conflicted. It looks like the stock indices should put in one more big white upbar to get above the late June high (SP 1654) but 60 min RSI is already extreme and crude oil looks like it topped. The euro is also bouncing around its lower BB and not to far from its weekly lower BB.
There was a red flag today with the SOX down around 2.2%.
I will still hold out for a high on Wednesday……
Interesting……..crude oil could be topping out here at $104.
In May 2011, it topped at $114 and the alltime high on July 7,2008 was made at $149 so alot of vibrations made around the 14 number. It also put in the many white upbars in a row pattern culminating in the biggest upbar on Friday when the entire bar was made above the upper BB.
Never mind. It looks like Greece’s lifeline was just extended. No real urgency now. The markets don’t appear to be reacting at all.
There’s a chance today could be the rebound high. No decision has made by the euro finance minister’s meeting so far and it is hard to get any information on it anyway. And the trollosphere has been unusually silent on the matter so far. Normally, they like to promote these quagmires before they get resolved and the short squeeze ramp ensues. A decision could be put off until after the close.
Nasdaq is only up one point. SP up eight. I’d expect that today would have been a bigger up day. I need to investigate some things first though.
Hmmm… Mr. TopStep points to 1649 SPX as critical to reach “if” the market is going to go up and make new highs? I’d find that hard to believe but I must admit that would fool a lot of sheep. https://mr-topstep.com/index.php/multimedia/video/latest/mts-video-of-the-day-7-8-13-tim-haefke
EURUSD Chart analysis: http://niftychartsandpatterns.blogspot.in/2013/07/eurusd-chart-analysis.html
I got it… thanks. New FP on Silver Futures of 3,250 (http://reddragonleo.com/wp-content/uploads/Screenshot-from-2013-07-01-21_09_52.png) It’s backed dated to 01/22/2013.
Guys, building a short position here is the best think to do I think as we very close to the top. Picking the exact top is very hard but a zone seems easier… which I feel we are in that zone now. Also, date wise Tuesday is another “eleven” day and then Wednesday they will re-release the prior FOMC minutes from last month… so tomorrow could be the high and then with nothing new expected from Bernanke on Wednesday I think we’ll start selling off some.
Please post it or email it to me so I can post it. (red at redragonleo dot com)
Hello RED
did any one see the fake print at cnbc on Friday night?
Someone on GLP posted a snapshot of the fake print of silver, i then visited the cnbc site with my cell and confirm it was there and i also took a snap shot with my cell.