I was early too Peter, but happy I never caved in and sold. I’ll stay short until we get a gap fill at 1597 on that old position and re-short tomorrow morning “if” we get a bounce early in the morning. So far it’s not looking good for that but you know how the gangsters love to trick us bears. Bounce or no bounce the trend is now down.
If they treat the bulls like they have the bears then there won’t be many decent bounces to let them out on (or for the bears to get short at). So “if” there is any morning bounce tomorrow (doesn’t look good) then bears will be receiving a gift as tomorrows’ close should be ugly!
Good to see you old friend! Don’t those gangsters just love their ritual numbers? LOL! So ‘if’ this is the top then should be heading toward that 1630 spx first and then the 1597 gap fill before a decent bounce. I’d exit all shorts there and reload after the wave 2 up bounce to maybe 1630-1640 area. Then short again for a ride down to retest the 1536 low.
Whatever happens after the FOMC minutes are released I don’t think at this point they will have enough power to take out the current high… meaning that any bounce is likely a gift for the bears and should be shorted.
Today is the last deal in this card game between the Bernanke Bulls (the house) and the Dragon Bears (the players). There is one Joker left in the deck and whoever gets it will win the pot. Will the crooked dealer pull from the bottom of the deck and do a new stimulus? Or will he deal fairly from the top of the deck and give the Dragon Bears a chance?
If so, then odds are good that the Bernanke Bulls will not be dealt the joker and the Dragon Bears will get it… winning the hand. I’ll be looking for the FOMC minutes to be released at 2:22 pm (EST) instead of the usual 2:15 pm. Or even possibly 1:11 pm CST (2:11 pm EST) to use the power of the ritual eleven number.
We should see another move up around this period as I don’t think the shakeout is done yet. This was just the first shakeout to remove the bears’ stops from the last 2 days. There should be another shakeout close to (or just minutes before/after the release of the minutes) to shakeout bears that got short today around the high.
Today is a very powerful and important day for the gangsters as it’s a 33 (yearly) where 0+5+(22)+2+0+1+3=33, and a (daily) 22 simply because it’s the 22nd of the month. That makes it a ‘double eleven’ day and just one day before the gangsters meet at Legatus to worship Satan for 3 days.
The next powerful day is the 29th, which is another double eleven, but not a 33 day. Some how I think today is a move powerful day for them and should be the top. Just look for some wild moves around the release of the minutes but I expect the end result to be a move to the downside. I’m already short from around 1650 (still underwater on that 1/3 position but not shaken out) and will look for another position around 2 pm today.
If I miss it I’m fine with that too, but odds favor another shakeout upside move. According to Mr. TopStep key levels to watch for are 1691 and 1694 SPX, and since we are in uncharted territory I’ll have to use their knowledge for resistance levels. So if you don’t have the stomach for these wild moves then wait until tomorrow to see the real direction, but I’ll take another chance and get short again today.
I was early too Peter, but happy I never caved in and sold. I’ll stay short until we get a gap fill at 1597 on that old position and re-short tomorrow morning “if” we get a bounce early in the morning. So far it’s not looking good for that but you know how the gangsters love to trick us bears. Bounce or no bounce the trend is now down.
Great call WELL in advance red. As you knowm I’m 2 days early. But good enough
ES Channel update: http://niftychartsandpatterns.blogspot.in/2013/05/es-channel-update.html
This video is a telling sign of what’s about to happen for the bears… http://gawker.com/teen-girl-unimpressed-with-own-ability-to-slay-van-hale-509270465
If they treat the bulls like they have the bears then there won’t be many decent bounces to let them out on (or for the bears to get short at). So “if” there is any morning bounce tomorrow (doesn’t look good) then bears will be receiving a gift as tomorrows’ close should be ugly!
Good to see you old friend! Don’t those gangsters just love their ritual numbers? LOL! So ‘if’ this is the top then should be heading toward that 1630 spx first and then the 1597 gap fill before a decent bounce. I’d exit all shorts there and reload after the wave 2 up bounce to maybe 1630-1640 area. Then short again for a ride down to retest the 1536 low.
May 22, ding.
ok, just kidding.
let’s see this pig roll over in the mud, first.
Whatever happens after the FOMC minutes are released I don’t think at this point they will have enough power to take out the current high… meaning that any bounce is likely a gift for the bears and should be shorted.
CRUDE oil support levels: http://niftychartsandpatterns.blogspot.in/2013/05/crude-oil-support-levels.html
Today is the last deal in this card game between the Bernanke Bulls (the house) and the Dragon Bears (the players). There is one Joker left in the deck and whoever gets it will win the pot. Will the crooked dealer pull from the bottom of the deck and do a new stimulus? Or will he deal fairly from the top of the deck and give the Dragon Bears a chance?
If so, then odds are good that the Bernanke Bulls will not be dealt the joker and the Dragon Bears will get it… winning the hand. I’ll be looking for the FOMC minutes to be released at 2:22 pm (EST) instead of the usual 2:15 pm. Or even possibly 1:11 pm CST (2:11 pm EST) to use the power of the ritual eleven number.
We should see another move up around this period as I don’t think the shakeout is done yet. This was just the first shakeout to remove the bears’ stops from the last 2 days. There should be another shakeout close to (or just minutes before/after the release of the minutes) to shakeout bears that got short today around the high.
Today is a very powerful and important day for the gangsters as it’s a 33 (yearly) where 0+5+(22)+2+0+1+3=33, and a (daily) 22 simply because it’s the 22nd of the month. That makes it a ‘double eleven’ day and just one day before the gangsters meet at Legatus to worship Satan for 3 days.
The next powerful day is the 29th, which is another double eleven, but not a 33 day. Some how I think today is a move powerful day for them and should be the top. Just look for some wild moves around the release of the minutes but I expect the end result to be a move to the downside. I’m already short from around 1650 (still underwater on that 1/3 position but not shaken out) and will look for another position around 2 pm today.
If I miss it I’m fine with that too, but odds favor another shakeout upside move. According to Mr. TopStep key levels to watch for are 1691 and 1694 SPX, and since we are in uncharted territory I’ll have to use their knowledge for resistance levels. So if you don’t have the stomach for these wild moves then wait until tomorrow to see the real direction, but I’ll take another chance and get short again today.