what I'm getting at is a lower Euro “usually” correlates with a lower S&P
Also, A lower Euro with a low volume rallies in stocks doesn't place much confidence in the Greece job.
If the retail sales comes out rotten. could get a big downday?
Would they finally get the Greece thing fixed over the 3 day weekend and then we rally big? Toni Hanson states the market tends to change direction at 2pm, as it did last friday. Will we change direction tomorrow at 2pm for a rally into tues?.
I've read in one of Red's sites that friday before Presidents day has a 80% chance of neg close for the day.
The headline in the WSJ (online) reads: “EU Leaders Agree on Support for Greece,” but the sub-header tells us that “Euro-zone countries will provide coordinated action if needed to preserve stability.” Ok, then… Let's look at the reaction of the Euro to this “agreement” to provide a financial assistance package to Greece: where IS the reaction? I certainly don't see one. Technically, EUR/USD remains in its 5-session range between Fri.'s low at 1.3585 and the high for the recovery rally at 1.3840, which right now has the look and feel of a sideways, bearish congestion area ahead of downside continuation. Bullish for the PowerShares DB US Dollar ETF (UUP). At this juncture, only a sustained climb above 1.3840/50 will trigger initial signals that a near-term low is in place. Otherwise, the EUR/USD likely will head considerably lower, which WILL get the attention of EU leaders AGAIN, and will compel them to actually DO something. Unfortunately, politicians ONLY spring into action WHEN FORCED — and that usually occurs when the markets are into panic mode. Let's see when that starts, with the EUR plunging towards 1.3400.
Red, When market is not doing the way it is supposed to, one must understand there is something else going on. My view is that this market is not going down because so many of us thought we nailed the top and positioned on the short side. I have never seen this many retail investors loading up with short ETFs and waiting for market to fall. You notice this pattern at every blog as everyone is a bear. Big guys know all this and sure to squeeze all bears out of market. IMO, this market is going to new high based on prevailing bearish sentiment. Another point I noticed is Goldman and other big guys follow Elliott Wave Prechter and his team just to know what bears are saying. For example, if Elliott Wave guys say market should not cross a certain level that is where exactly Wall street crooks take market just to squeeze out bears. This is happening often because after Lehman collapse Wall Street is just one firm show, that is Goldman. If Goldman is not positioned on short side then market is not going down. No wave theory is going to work, please understand this and never bet your farm based on convincing charts.
Thanks, Nice insight
what I'm getting at is a lower Euro “usually” correlates with a lower S&P
Also, A lower Euro with a low volume rallies in stocks doesn't place much confidence in the Greece job.
If the retail sales comes out rotten. could get a big downday?
Would they finally get the Greece thing fixed over the 3 day weekend and then we rally big? Toni Hanson states the market tends to change direction at 2pm, as it did last friday. Will we change direction tomorrow at 2pm for a rally into tues?.
I've read in one of Red's sites that friday before Presidents day has a 80% chance of neg close for the day.
Michigan-How do you know what GS is doing?
MID-DAY MINUTE BY MIKE PAULENOFF:
By Mike Paulenoff, http://www.MPTrader.com
The headline in the WSJ (online) reads: “EU Leaders Agree on Support for Greece,” but the sub-header tells us that “Euro-zone countries will provide coordinated action if needed to preserve stability.” Ok, then… Let's look at the reaction of the Euro to this “agreement” to provide a financial assistance package to Greece: where IS the reaction? I certainly don't see one. Technically, EUR/USD remains in its 5-session range between Fri.'s low at 1.3585 and the high for the recovery rally at 1.3840, which right now has the look and feel of a sideways, bearish congestion area ahead of downside continuation. Bullish for the PowerShares DB US Dollar ETF (UUP). At this juncture, only a sustained climb above 1.3840/50 will trigger initial signals that a near-term low is in place. Otherwise, the EUR/USD likely will head considerably lower, which WILL get the attention of EU leaders AGAIN, and will compel them to actually DO something. Unfortunately, politicians ONLY spring into action WHEN FORCED — and that usually occurs when the markets are into panic mode. Let's see when that starts, with the EUR plunging towards 1.3400.
It just ramped higher after that low point, so I ended up not getting any after hours.
Might be able to get it cheaper than that tomorrow morning. Never know.
Not according to GOOG's chart. I saw it hit as low as 10.25. Anyway, the AH session is closed. Did you add more TZA?
5:00-5:05 PM Eastern, low of 10.21
no?
He's about the best one I've seen, but there might be other's that I haven't heard of?
Well… at least it's only a small farm. I can always go on welfare, and live off the crooks for awhile. LOL
Red,
When market is not doing the way it is supposed to, one must understand there is something else going on.
My view is that this market is not going down because so many of us thought we nailed the top and positioned on the short side. I have never seen this many retail investors loading up with short ETFs and waiting for market to fall. You notice this pattern at every blog as everyone is a bear. Big guys know all this and sure to squeeze all bears out of market. IMO, this market is going to new high based on prevailing bearish sentiment.
Another point I noticed is Goldman and other big guys follow Elliott Wave Prechter and his team just to know what bears are saying. For example, if Elliott Wave guys say market should not cross a certain level that is where exactly Wall street crooks take market just to squeeze out bears. This is happening often because after Lehman collapse Wall Street is just one firm show, that is Goldman. If Goldman is not positioned on short side then market is not going down. No wave theory is going to work, please understand this and never bet your farm based on convincing charts.