Market pulling back after hitting that falling trendline of resistance on the ES Futures per the update chart just posted. But I’m not looking for a lot on the downside. I don’t know if it will drop to the rising trendline or not? That might be too far down as most charts still want to go up.
Not saying it’s over yet. I see another nice drop coming soon.. probably starting next week. But after that I see one more rally up to retest the current highs and break them by some unknown amount. Then we’ll get another crash sometime next year.
VIX Daily Chart Update: http://screencast.com/t/5XLQB1sJt
ES Futures Midday Update: http://screencast.com/t/lIQvvaRm
Market pulling back after hitting that falling trendline of resistance on the ES Futures per the update chart just posted. But I’m not looking for a lot on the downside. I don’t know if it will drop to the rising trendline or not? That might be too far down as most charts still want to go up.
Not saying it’s over yet. I see another nice drop coming soon.. probably starting next week. But after that I see one more rally up to retest the current highs and break them by some unknown amount. Then we’ll get another crash sometime next year.
I don’t think this is over….waiting til next year may not be prudent.
Yeah… and wait until next year when the market crashes for real, as then you’ll see miners really explode upwards.
As to speaking of tricks comment the other day….NUGT …Miners are flying.
hope you picked up some NUGT
I’m still looking for more up Doug. Around 2000-2020 ES I’ll start looking for a nice shorting spot. But yeah, your report looks about right to me.
ES Futures Thursday Morning Report: http://screencast.com/t/iosKWgV7z
to sum up on Consolidated report:
S&P……………………………….. is FLAT
DOW ……………..is Medium tilted to the LONG
NAS ….is Slightly tilted to the SHORT
Sometime I plan on going thur months of Data and see how forward planning these numbers are!