Actually, thought I had short term positions but but let’s just say in the money positions weren’t coverted……which would be another ingenious way to get bears out before the plungola.
I am a little neutral on the stock market now. The first few days of the month usually head in the same direction and there is strong seasonality right now. Since we didn’t open the month down, then I have to temper my views. But most indices still didn’t get above their 50 day averages and sold off at the end after testing them.
Tomorrow is 28 tds off the May 22 high, which in the past in “special circumstances” marked important secondary highs.
Just a little worried since I exited from some long term positions today at what appeared to be the top and don’t have any short term exposure so I am vulnerable to a big down day. I guess just watch for a TD bear flip. Likewise, a close above the 50 day average could send the market hard upward. Momentum measurements are very cloudy right now….actually short term bullish.
Other than Stanley Kubrick’s fascination with July 4 in the Shining, I never saw anything very cataclysmic around here.
Haven’t really perused the blogosphere for trollish sentiment yet..
Not filling the gap at 1628.93 SPX tells me the bulls aren’t done yet. This down move just another attempt to get a few more bears in to short squeeze in my view. That also tells me the the market is weak as this is the 2nd move down in a short period is likely because the bulls don’t have much left on the upside.
So they have to get some bears short to force the market up from a squeeze. I think there aren’t many bears left to short as they are all waiting for higher prices before shorting. Most bears also know about light volume holiday weeks and aren’t jumping in fully short right now due to that reason.
Again, I think we are still going up more and I expect to see this down move reversed tomorrow and into Wednesday morning. Possibly the non-farm payroll report will be blamed for the selling on Friday? That’s assuming we top on Wednesday and sell off some on Friday of course.
No Sol… I’m expecting a top in the 1630-1640 spx area by Wednesday most likely. Then some light selling into Friday for the first wave 1 down… followed by a rally back up on Friday into the close for the wave 2 up. This makes the week look good to the retail sheep over the holiday weekend.
But it also allows the wave 3 down to start Monday July 8th which I think will fool most traders when they come back from the 4th of July holiday weekend. I’m not sure if they plan to release some negative news during this period to cause a gap down on Monday or just open flat and gradually start selling… but next week look very bearish to me.
LOL… we did the completion of the move down on the ES to 1595 Sunday night and now we’re back on track to hit that 1630-1640 by this Wednesday or Friday.
Rooney’s original #9 for the English club has now morphed to #10 for the Ray Ray 9-10 combo. His original number for Manchester was #8 and it is now #10—As I recall, Ronaldo’s #==7 when he played with Rooney on Manchester for an 87 combo.
On July 1, 2006, 7years ago, Christian Ronaldo and Wayne Rooney played their part in a little ritualistic scuffle that saw following a Rooney shove of Ronaldo, a RED card awarded to Rooney and an immediate exit from the World Cup in Germany. It was an initial 9-9-17 numey combo play as Rooney #9 gave a hard foul to Portugal’s #9, and then saw Ronaldo #17come into fray and “coerce” (or was all of this scripted?) Rooney to shove him leading to Rooney’s immediate expulsion. In the video, portugal’s #8 shows up next to Ronaldo to form a 8-17 at the time (or 8-8???). 99===9×11 or 29….99 for 1(0)7. As I recall, Ronaldo’s first play for Manchester United and his handler Ferguson came on October 7th (2002?) and Ronaldo’s subequent number for Portugal became #7.
The Portugese England game went to extra time and ended in a 1-3 score Portugal win on goal kicks.
Last year’s final played on 7-1 was the European Cup final not a World Cup one.
Actually, thought I had short term positions but but let’s just say in the money positions weren’t coverted……which would be another ingenious way to get bears out before the plungola.
I am a little neutral on the stock market now. The first few days of the month usually head in the same direction and there is strong seasonality right now. Since we didn’t open the month down, then I have to temper my views. But most indices still didn’t get above their 50 day averages and sold off at the end after testing them.
Tomorrow is 28 tds off the May 22 high, which in the past in “special circumstances” marked important secondary highs.
Just a little worried since I exited from some long term positions today at what appeared to be the top and don’t have any short term exposure so I am vulnerable to a big down day. I guess just watch for a TD bear flip. Likewise, a close above the 50 day average could send the market hard upward. Momentum measurements are very cloudy right now….actually short term bullish.
Other than Stanley Kubrick’s fascination with July 4 in the Shining, I never saw anything very cataclysmic around here.
Haven’t really perused the blogosphere for trollish sentiment yet..
Not filling the gap at 1628.93 SPX tells me the bulls aren’t done yet. This down move just another attempt to get a few more bears in to short squeeze in my view. That also tells me the the market is weak as this is the 2nd move down in a short period is likely because the bulls don’t have much left on the upside.
So they have to get some bears short to force the market up from a squeeze. I think there aren’t many bears left to short as they are all waiting for higher prices before shorting. Most bears also know about light volume holiday weeks and aren’t jumping in fully short right now due to that reason.
Again, I think we are still going up more and I expect to see this down move reversed tomorrow and into Wednesday morning. Possibly the non-farm payroll report will be blamed for the selling on Friday? That’s assuming we top on Wednesday and sell off some on Friday of course.
No Sol… I’m expecting a top in the 1630-1640 spx area by Wednesday most likely. Then some light selling into Friday for the first wave 1 down… followed by a rally back up on Friday into the close for the wave 2 up. This makes the week look good to the retail sheep over the holiday weekend.
But it also allows the wave 3 down to start Monday July 8th which I think will fool most traders when they come back from the 4th of July holiday weekend. I’m not sure if they plan to release some negative news during this period to cause a gap down on Monday or just open flat and gradually start selling… but next week look very bearish to me.
ok so crash later this week.. got it
good call on Monday morning Red! LOL
LOL… we did the completion of the move down on the ES to 1595 Sunday night and now we’re back on track to hit that 1630-1640 by this Wednesday or Friday.
QQQ Weekend Update: http://niftychartsandpatterns.blogspot.in/2013/06/qqq-weekend-update_30.html
Rooney’s original #9 for the English club has now morphed to #10 for the Ray Ray 9-10 combo. His original number for Manchester was #8 and it is now #10—As I recall, Ronaldo’s #==7 when he played with Rooney on Manchester for an 87 combo.
On July 1, 2006, 7years ago, Christian Ronaldo and Wayne Rooney played their part in a little ritualistic scuffle that saw following a Rooney shove of Ronaldo, a RED card awarded to Rooney and an immediate exit from the World Cup in Germany. It was an initial 9-9-17 numey combo play as Rooney #9 gave a hard foul to Portugal’s #9, and then saw Ronaldo #17come into fray and “coerce” (or was all of this scripted?) Rooney to shove him leading to Rooney’s immediate expulsion. In the video, portugal’s #8 shows up next to Ronaldo to form a 8-17 at the time (or 8-8???). 99===9×11 or 29….99 for 1(0)7. As I recall, Ronaldo’s first play for Manchester United and his handler Ferguson came on October 7th (2002?) and Ronaldo’s subequent number for Portugal became #7.
The Portugese England game went to extra time and ended in a 1-3 score Portugal win on goal kicks.
Last year’s final played on 7-1 was the European Cup final not a World Cup one.