Yeah… until there’s a clear break of 2135 or 2040 we are still trendless and therefore you must trade short term. The market has given us tons of 2-5 days moves in the same direction, but catching a 3 week move is tough.
Maybe we start one soon as it’s sure looking like a big move up or down is coming. In that latest video I did yesterday I point out the reasons to be bullish.
But if that 2040 breaks then we are in for a huge drop like 2011. Crashes happen from oversold charts and the weekly chart is now in that oversold range where it should turn back up or dump hard and tank the market big.
The power of Ms J ImYelling to rally markets is fizzling. I look across my large watch/trade list and see tanks everywhere for a while now!
I have found that when this happens, then the general markets finally fall last.
I agree with you Leo what you said a little ways back that it is only favorable to just make traded in a very short period.
My swing trades that work are for 1 to 3 days, not the usual 1 to 3 weeks!
Do “NOTE” that even though the weekly chart is turning back up slightly this move up needs to happen fast… like before breaking that rising trendline on the weekly chart. If for some reason we break that support (that goes back to the 1074 SPX low in 2011) we could fall off a cliff and bury the MACD’s, Histogram Bars, and Stochastic’s on both the daily and weekly chart.
Oscar Carboni
Great article with lots of charts and facts: http://www.athrasher.com/the-greatest-risk-of-a-market-peak-since-2007/
Who said that?
FYI
just watched Oscars’ video from last night.
He said to Go LONG on Russel & S&P today, SHORT Gold
Interesting,….. I’ll pass on that!
ES Futures Update: http://screencast.com/t/kwKWRQwIP
Yeah… until there’s a clear break of 2135 or 2040 we are still trendless and therefore you must trade short term. The market has given us tons of 2-5 days moves in the same direction, but catching a 3 week move is tough.
Maybe we start one soon as it’s sure looking like a big move up or down is coming. In that latest video I did yesterday I point out the reasons to be bullish.
But if that 2040 breaks then we are in for a huge drop like 2011. Crashes happen from oversold charts and the weekly chart is now in that oversold range where it should turn back up or dump hard and tank the market big.
The power of Ms J ImYelling to rally markets is fizzling. I look across my large watch/trade list and see tanks everywhere for a while now!
I have found that when this happens, then the general markets finally fall last.
I agree with you Leo what you said a little ways back that it is only favorable to just make traded in a very short period.
My swing trades that work are for 1 to 3 days, not the usual 1 to 3 weeks!
If we don’t breakout to the upside hard tomorrow then I think we are copying the July 21st, 2011 move. http://screencast.com/t/irYp5kMK3QU
Breakout of zone between 2135 and 2040 SPX likely to happen within days. Read new updates on blog…
Do “NOTE” that even though the weekly chart is turning back up slightly this move up needs to happen fast… like before breaking that rising trendline on the weekly chart. If for some reason we break that support (that goes back to the 1074 SPX low in 2011) we could fall off a cliff and bury the MACD’s, Histogram Bars, and Stochastic’s on both the daily and weekly chart.