Since we are now unlikely to rally up to 2100 by the close today I’m no longer bearish on Monday. It looks more like the move down I was expecting for that day is happening today. I’m neutral to bullish for Monday now as we’ve had 5 down days in a row and the odds of another one Monday seem low too me.
How nice of them to “leak” this after the market has pulled back 50 SPX points or so. This “now” tells me we are near a low and they want to get bears on board short so they can squeeze them up to new highs.
We all know how they conveniently leak information at just the right time to trick bears into to shorting near a bottom (or bulls into going long near a top).
Based on today being Wednesday, which has odds of only 7% being the high or low for any given week, I have to speculate that we’ll drop one more time (Thursday morning I’d guess) before we rally back up. Lot’s of support in the 2098-2108 SPX zone from various daily moving averages. So if we drop tomorrow morning I’d be a bull.
VIX update: http://screencast.com/t/nYl27x3aerCs
watch the VIX it needs to get to the 17 area which is about S&P at 2040ish. Possible bounce on Monday but down hill we go.
Since we are now unlikely to rally up to 2100 by the close today I’m no longer bearish on Monday. It looks more like the move down I was expecting for that day is happening today. I’m neutral to bullish for Monday now as we’ve had 5 down days in a row and the odds of another one Monday seem low too me.
Leaked Federal Reserve Staff Projections Show Expected Federal Funds Rate Of 0.35% By End Of 2015 – UNCONFIRMED
http://www.benzinga.com/news/15/07/5702260/leaked-federal-reserve-staff-projections-show-expected-federal-funds-rate-of-0-35
How nice of them to “leak” this after the market has pulled back 50 SPX points or so. This “now” tells me we are near a low and they want to get bears on board short so they can squeeze them up to new highs.
We all know how they conveniently leak information at just the right time to trick bears into to shorting near a bottom (or bulls into going long near a top).
SPY Update: http://screencast.com/t/mp3EhMe0kp
ES Futures Update: http://screencast.com/t/yuPtLWY7O If we close around 2100 today (Friday) I’d have to be bearish for Monday.
Charts just aren’t lining up yet for a nice move up and they aren’t bearish enough to drop hard.
sooo many goofballs coming out trying to make statements to cover both sides…..trying to call this market one tough job!
Based on today being Wednesday, which has odds of only 7% being the high or low for any given week, I have to speculate that we’ll drop one more time (Thursday morning I’d guess) before we rally back up. Lot’s of support in the 2098-2108 SPX zone from various daily moving averages. So if we drop tomorrow morning I’d be a bull.
Thursday and Friday are bullish for this week so the low could be in now.