Great chart Apple Al… Thanks for sharing. It's definitely showing the bullish move that we are now having. The key is to figure out when it's going to rollover.
I'm getting more vibrations that this friday “they” are going to close the market near 1144 to set up what was warned of 30 days ago, which was the second monday of January and this coming monday will be the second monday in february and they closed the market @ 1144.98 before they gave us the warning, I got a picture of it with the candle printed http://www.flickr.com/photos/47091634@N04/43257…
Red, if your interested……… http://screencast.com/t/YmM2YWMxOTIt Only been working with this for about a month, you could say it's good at showing the obvious. It did start showing an increase in buying pressure about mid-week last week, also selling pressure line was diverging into Friday
The way I'm looking to play it, is to add a 1/3 short position at 111.60 spy, another 1/3 at 112.30-112.50, and the finally 1/3 at 113.20.
If we are lucky enough to reach 113.20 on the spy, I'll go 100% short into the weekend. Not sure if that will happen or not, but that's where I'd love to see it go.
Now, as for the unemployment numbers, I believe the market is a little scared right now of any news or earnings coming out. So, I believe we will sell off before the numbers and then rally once they are released.
The government will get out their erasers and make sure the numbers are better then expected, which will cause the small rally up.
If I think like a retail trader, then I would be thinking that the numbers are going to be bad, and therefore I'd be shorting before the numbers. So you need to do the opposite… wait until the numbers are released and go short after the rally has peaked.
On the other hand, if we rally into the numbers, then they really are bad and you should go short before Friday. But, I don't think that will happen. I think the market will pullback a little before the numbers, and then rally on them.
Regardless of how it plays out… look for the key levels to be hit that I listed above.
very interesting and thanks for sharing but where do these vibrations come from and what form do they take?
Also when you say closed to what exactly?
[Forgive me I am still new to all this and finding it fascinating]
Great chart Apple Al… Thanks for sharing. It's definitely showing the bullish move that we are now having. The key is to figure out when it's going to rollover.
I'm mis-understanding you? Are you thinking that they are going to run it up to 1144? The picture shows 1047? I'm lost?
Red,
I'm getting more vibrations that this friday “they” are going to close the market near 1144 to set up what was warned of 30 days ago, which was the second monday of January and this coming monday will be the second monday in february and they closed the market @ 1144.98 before they gave us the warning, I got a picture of it with the candle printed
http://www.flickr.com/photos/47091634@N04/43257…
Red, if your interested………
http://screencast.com/t/YmM2YWMxOTIt
Only been working with this for about a month, you could say it's good at showing the obvious. It did start showing an increase in buying pressure about mid-week last week, also selling pressure line was diverging into Friday
Yeah, you never know with those guys.
Everything is working as planned. I'll probably get out of my USO calls tomorrow and sit in cash until I see where we are on Friday.
Hi Red Your on the money so far !
Im just a bit worried that the nice gentlemen on the PPT team keep coming to the rescue next week as well!
red
the throwback to support scenario is playing out to a T.
gap above trendline on SPY monday morning
http://www.flickr.com/photos/47091634@N04/43226…
fridays bear trap was confirmed on monday
http://www.flickr.com/photos/47091634@N04/43228…
this morning “they” gapped the SPY above it's 8SMA triggering buy programs
http://www.flickr.com/photos/47091634@N04/43247…
The way I'm looking to play it, is to add a 1/3 short position at 111.60 spy, another 1/3 at 112.30-112.50, and the finally 1/3 at 113.20.
If we are lucky enough to reach 113.20 on the spy, I'll go 100% short into the weekend. Not sure if that will happen or not, but that's where I'd love to see it go.
Now, as for the unemployment numbers, I believe the market is a little scared right now of any news or earnings coming out. So, I believe we will sell off before the numbers and then rally once they are released.
The government will get out their erasers and make sure the numbers are better then expected, which will cause the small rally up.
If I think like a retail trader, then I would be thinking that the numbers are going to be bad, and therefore I'd be shorting before the numbers. So you need to do the opposite… wait until the numbers are released and go short after the rally has peaked.
On the other hand, if we rally into the numbers, then they really are bad and you should go short before Friday. But, I don't think that will happen. I think the market will pullback a little before the numbers, and then rally on them.
Regardless of how it plays out… look for the key levels to be hit that I listed above.
Red