Red, I am sorry to say that on Wall Street, white is black and black is white. Market is not going down because crooks are going to squeeze shorts, then same crooks squeeze bulls by pulling markets down. This is a game only a few will win. Tonight, Futures are going up the moment markets closed, you know how it works. They ramp futures huge, shorts pile on covering markets move up, bulls and fund managers jump-in fearing market is taking off. Market moves up another leg. This game is going on for several months, and nothing will stop this game, except a 3 of 3, if there is one to believe. Good luck…
So much work went into this post Red. I truly appreciate it as I don't have the time to do the in depth analysis and this really helps me learn. Hopefully the answer really is in the charts. Tomorrow looks at least like it is going to open higher and I guess we'll have to wait and see what happens next.
I can't help but wonder if the start of the drop to 1020 could wait until end of day Friday. That would line up with the New Moon Trade (new moon is Sunday), when I usually load up on TZA.
aussie jobs report came out. very good one. that clearly means dollar down and spx up tomorrow unless some other news shadow that good aussie job report.
dreadwin, that hammer last Friday should have done more (to the upside in the days following) than it did. I switched to TZA for tomorrow, though the futures (as I type this) say I'm wrong.
Red,
I am sorry to say that on Wall Street, white is black and black is white. Market is not going down because crooks are going to squeeze shorts, then same crooks squeeze bulls by pulling markets down. This is a game only a few will win. Tonight, Futures are going up the moment markets closed, you know how it works. They ramp futures huge, shorts pile on covering markets move up, bulls and fund managers jump-in fearing market is taking off. Market moves up another leg. This game is going on for several months, and nothing will stop this game, except a 3 of 3, if there is one to believe.
Good luck…
Earl, Nice update thanks, Sold half my TZA this morning. Actually got stopped out with profit. Then bought a smaller position this afternoon.
So much work went into this post Red. I truly appreciate it as I don't have the time to do the in depth analysis and this really helps me learn. Hopefully the answer really is in the charts. Tomorrow looks at least like it is going to open higher and I guess we'll have to wait and see what happens next.
Leo,
Nice post.
I can't help but wonder if the start of the drop to 1020 could wait until end of day Friday. That would line up with the New Moon Trade (new moon is Sunday), when I usually load up on TZA.
Futures are running up so far this evening.
Tonight's post is now out… sorry it took so long gang.
I can't take another ramp job tomorrow. Ugh! When will it end?!
aussie jobs report came out. very good one. that clearly means dollar down and spx up tomorrow unless some other news shadow that good aussie job report.
Tony just said: This whole correction continues to be a mess. Hard to tell exactly where we are.
Earlier today, Carl Futia (who always offers a range estimate for the day) said: I can't offer a range estimate that I have any confidence in today.
Futures are running up as I type this.
Why am I not in cash?
dreadwin, that hammer last Friday should have done more (to the upside in the days following) than it did. I switched to TZA for tomorrow, though the futures (as I type this) say I'm wrong.
Nice chart. Looks (to me) like VIX wants to go higher.
Looks can deceive me 🙂