I did hear on a real estate/mortgage loan infomercial a few months back that low FHA loan rates were set to expire on April 1 as well as low the current low mortgage insurance rate. So don’t be surprised that this front loaded housing demand into the early part of the year and that we start suddenly seeing disappointing housing numbers/ news going forward.
The infomercial sponsors were definitely trying to drive up business going into that April 1st date.
$vix up, crude oil, commodities,gold, euro, lumber all down in today’s upmarket. $ndx was up slightly as Apple was mini-hammered and looks to be starting a new leg down. Australian dollar continues to crash.
Breadth wasn’t even that strong for the day’s action.
Today 5-14 is 240 degrees/days from the 9-14 high. Today would be the last point for a high for the EXASperating flash crash scenario. But commodities seem to be in a holding pattern the last several weeks awaiting the big plunge. Gold is acting very feeble in its bull flip week.
Lumber has declined hard since its March peak and hasn’t shown any sign of a decent counter-trend pop/ reversal and has knifed right through its 200 day average. Not a good sign for the market.
Yes it will Rod. While catching the exact top is about as hard as catching the exact bottom I’m just happy that I’ll be within the last 5% percentage of the move up so I’ll be catching the meat of the move down.
When this rally ends (and I personally think it has today) the bulls are going be trapped with no way to get out. They are going to go down with very little bounces for sleeping bears to get short at, or trapped bulls to get out at.
ES at channel resistance: http://niftychartsandpatterns.blogspot.in/2013/05/es-at-channel-resistance.html
May 22nd?
I learned to never say ‘never’.
patience is key.
I think the upper bounds have certainly been hit like in 2012, but it can hug the high line and run even higher. only time will tell.
http://stockcharts.com/h-sc/ui?s=SSO&p=D&yr=1&mn=7&dy=0&id=p30382939504
I did hear on a real estate/mortgage loan infomercial a few months back that low FHA loan rates were set to expire on April 1 as well as low the current low mortgage insurance rate. So don’t be surprised that this front loaded housing demand into the early part of the year and that we start suddenly seeing disappointing housing numbers/ news going forward.
The infomercial sponsors were definitely trying to drive up business going into that April 1st date.
$vix up, crude oil, commodities,gold, euro, lumber all down in today’s upmarket. $ndx was up slightly as Apple was mini-hammered and looks to be starting a new leg down. Australian dollar continues to crash.
Breadth wasn’t even that strong for the day’s action.
Today 5-14 is 240 degrees/days from the 9-14 high. Today would be the last point for a high for the EXASperating flash crash scenario. But commodities seem to be in a holding pattern the last several weeks awaiting the big plunge. Gold is acting very feeble in its bull flip week.
Lumber has declined hard since its March peak and hasn’t shown any sign of a decent counter-trend pop/ reversal and has knifed right through its 200 day average. Not a good sign for the market.
Yes it will Rod. While catching the exact top is about as hard as catching the exact bottom I’m just happy that I’ll be within the last 5% percentage of the move up so I’ll be catching the meat of the move down.
it’s going to be a thing of beauty Red
APPLE Chart analysis: http://niftychartsandpatterns.blogspot.in/2013/05/apple-chart-analysis.html
When this rally ends (and I personally think it has today) the bulls are going be trapped with no way to get out. They are going to go down with very little bounces for sleeping bears to get short at, or trapped bulls to get out at.
Yeah. This endless euphoria has already breached extremes. Up a few days, flat, then repeat
WOW! The bullishness must be to the most extreme levels ever right now! May I remind you of where the bull is right now… http://reddragonleo.com/wp-content/uploads/2010/06/bull-trapped-up-stairs-with-bear-waiting-with-chainsaw.jpg
And here’s the bear right now… http://reddragonleo.com/wp-content/uploads/2010/06/bull-trapped-up-stairs-with-bear-waiting-with-chainsaw-2.jpg