the only weekly setup that is remotely intriguing is the $VIX weekly
The $VIX currently has 4 consecutive lower closes than opens on it's weekly and since the $VIX peaked during the 10/20/08 week the $VIX only has one sequence longer than 4 consecutive lower closes than opens. That sequence which ended @ 6 originated during the 11/24/2008 week and terminated during the 12/29/2008 week
Expanding our time parameters to the 8/13/2007 week as our starting point we see 2 more occurrences where there were 4 consecutive lower closes than opens and 1 occurrence where there was 6 consecutive lower closes than opens which terminated during the 8/18/08 week.
Unfortunately I don't think us bears will see the big crash until later this year. But, I'll take any sell off they give me at this point.
I posted that email exactly as it came too me, but it seems odd thinking that all the dip buyers will push the market back down? Did he make a mistake in his post? Shouldn't that say that the dip buyers will push the market back up? What am I missing here?
> Therefore on the next anticipated pullback or > dip all the traders that missed this move up, which was majority of the traders > will buy into this move, which should push it back down…
Doesn't this mean at some point we'll the $VIX will go back down to fill the gap?
Carl is now long one unit /ES at 1138.50
1138 is the midpoint of his range for today
I think 15 point ranges are typical for Carl. Haven't gone back to check for sure.
Quite large ranges, no?
SPY reached it's containment pt. this morning
http://www.flickr.com/photos/47091634@N04/44172…
Carl this morning:
March S&P E-mini Futures: Today's range estimate is 1131-1145. I expect the market to reach 1200 over the next three months.
1126-1140 estimate for last Friday
1131-1145 /ES range estimate for today
1140 right now so -9 to +5 from here
update 9:32 est operators gapped the $VIX up 3.5% while the markets opened flat. Important implications for the weekly setup.
the only weekly setup that is remotely intriguing is the $VIX weekly
The $VIX currently has 4 consecutive lower closes than opens on it's weekly and since the $VIX peaked during the 10/20/08 week the $VIX only has one sequence longer than 4 consecutive lower closes than opens. That sequence which ended @ 6 originated during the 11/24/2008 week and terminated during the 12/29/2008 week
Expanding our time parameters to the 8/13/2007 week as our starting point we see 2 more occurrences where there were 4 consecutive lower closes than opens and 1 occurrence where there was 6 consecutive lower closes than opens which terminated during the 8/18/08 week.
Thanks G…
Unfortunately I don't think us bears will see the big crash until later this year. But, I'll take any sell off they give me at this point.
I posted that email exactly as it came too me, but it seems odd thinking that all the dip buyers will push the market back down? Did he make a mistake in his post? Shouldn't that say that the dip buyers will push the market back up? What am I missing here?
> Therefore on the next anticipated pullback or
> dip all the traders that missed this move up, which was majority of the traders
> will buy into this move, which should push it back down…
HI Red, Nice Post.