the UUP setup is separate setup from the equity markets, if the uup gets above it's knot of containment points any upward movement in the equity markets would then be corrective
the only other setup I have is the 16.26 de-leverage point on the $VIX
June S&P E-mini Futures: Today's range estimate is 1147 – 1161. The ES should reach the 1200 level by the end of May.
1145.50-1155.75 range yesterday 1159.50 high overnight 1147-1161 range estimate today (June contract) 14 points 1157.50 currently, so -10.50 to + 3.50 from here (Bearish)
My thoughts- all the technical conditions within the next two days should make the market ripe fro a major sell off (except for the dollar needs to rally but maybe a small sell off would actually spark that). The government says the healthcare plan resolution will be announced within 72 hours. I believe they will hold the market up until then and maybe for a day after (so it doesn't look like the market sold off because of a passed plan). Maybe the day after the plan passes (over the weekend), the government will stage a major catastrophe (perhaps in the middle east) so that a market sell off can then be attributed to something besides the health care plan. I know it sounds like a conspiracy theory, but I am beginning to believe in them 🙂
the UUP setup is separate setup from the equity markets, if the uup gets above it's knot of containment points any upward movement in the equity markets would then be corrective
the only other setup I have is the 16.26 de-leverage point on the $VIX
Thanks – besides UUP is there anything else we have to wait for?
XLF prints 15.82, completing it's bullish setup on a day when 3 sequences align, I'm sure it's just a coincidence
http://www.flickr.com/photos/47091634@N04/44234…
I remember seeing it one other time 🙂
Take a look at Serge's post today. Anna also seems to be expecting a drop. But Anna says she would cover all shorts. I don't know why though.
Wow He is actually bearish for once?
Carl's morning call:
June S&P E-mini Futures: Today's range estimate is 1147 – 1161. The ES should reach the 1200 level by the end of May.
1145.50-1155.75 range yesterday
1159.50 high overnight
1147-1161 range estimate today (June contract) 14 points
1157.50 currently, so -10.50 to + 3.50 from here (Bearish)
Does Monday 3/22/2010 hold any significance?
Here's a “conspiracy theory” for you… the government is honest. LOL Anyone believing that one has to be insane!
My thoughts- all the technical conditions within the next two days should make the market ripe fro a major sell off (except for the dollar needs to rally but maybe a small sell off would actually spark that). The government says the healthcare plan resolution will be announced within 72 hours. I believe they will hold the market up until then and maybe for a day after (so it doesn't look like the market sold off because of a passed plan). Maybe the day after the plan passes (over the weekend), the government will stage a major catastrophe (perhaps in the middle east) so that a market sell off can then be attributed to something besides the health care plan. I know it sounds like a conspiracy theory, but I am beginning to believe in them 🙂