It's too far away Scraoppy. While it's possible that we could go up today to 1080, I don't see 1098 as possible. Not until we go down first, and then we can come back up. But, that's not until next week most likely.
I think this is going to be the old “pop and drop” open. Just another trick to get the bears to jump ship and the bulls to board it. Everything I look at and read tells me that this ship is sinking.
Thank you Triglav… I simply call it like I see. I could be right, or I could be wrong? The charts tell me we are going down, so that's the way I play it.
It's possible that we can do a ABC move to 1080, as I posted above. I personally don't think it will happen, as the charts tell me we're going down. But, the market has defyed gravity before… back when the government was pumping billions of dollars through Goldman Sachs to prop up the market.
They are selling now. Look at the volume yesterday compared to Friday. It was over 400 million share on the SPY on Friday, and yesterday had just over 200 million shares. That's considered “Light Volume”, and should have allowed the market to float higher.
It didn't… instead it sold off into the close. What do you think is going to happen when we have another heavy volume day? It ain't going to be pretty, that's for sure.
you better hope SPY doesn't open above 106.74 otherwise it will confirm the bottom is in
SPX 3 min gap on 2/4/2010 9:42 candle @ 1085.89 indicated the move on thursday/friday was a manufactured move, the 1085.89 gap will close before end of business Wednesday 2/10/2010
It's too far away Scraoppy. While it's possible that we could go up today to 1080, I don't see 1098 as possible. Not until we go down first, and then we can come back up. But, that's not until next week most likely.
I think this is going to be the old “pop and drop” open. Just another trick to get the bears to jump ship and the bulls to board it. Everything I look at and read tells me that this ship is sinking.
Thank you Triglav… I simply call it like I see. I could be right, or I could be wrong? The charts tell me we are going down, so that's the way I play it.
It's possible that we can do a ABC move to 1080, as I posted above. I personally don't think it will happen, as the charts tell me we're going down. But, the market has defyed gravity before… back when the government was pumping billions of dollars through Goldman Sachs to prop up the market.
They are selling now. Look at the volume yesterday compared to Friday. It was over 400 million share on the SPY on Friday, and yesterday had just over 200 million shares. That's considered “Light Volume”, and should have allowed the market to float higher.
It didn't… instead it sold off into the close. What do you think is going to happen when we have another heavy volume day? It ain't going to be pretty, that's for sure.
Break above 1071 possible gap fill at 1098 area
Red,
you better hope SPY doesn't open above 106.74 otherwise it will confirm the bottom is in
SPX 3 min gap on 2/4/2010 9:42 candle @ 1085.89 indicated the move on thursday/friday was a manufactured move, the 1085.89 gap will close before end of business Wednesday 2/10/2010
http://www.flickr.com/photos/47091634@N04/43434…
Don't believe any of Monica… hang tight, she's sinking.
Well, I am up in the middle of the night and futures are sky high. Looks like we are going to have a big pop tomorrow. What a fun roller coaster ride!
absolutely,,, there are some interesting links here too..http://english.aljazeera.net/news/middleeast/2010/02/20102905431956447.html.. seems to be lots of aggression being voiced,,
Thanks ModyDoc… I'm going to use this information in my post tonight., if you don't mind?
http://www.reuters.com/article/idUSTRE6173II201…. hmm ,,Gulf of Aden..