I don’t get the feeling it’s going to breakdown for the “Big Move” this week but one should get short before this week ends and hold it short for about 3 weeks. I see a huge drop starting next week. It will make this weeks’ drop look like nothing.
Hopefully we get a bounce after the FOMC meeting today at 2pm EST. We are now making an “Inverted Head and Shoulders” with today’s move down to make the right shoulder. While the charts are still very bearish I wouldn’t be surprised if we don’t get one more fakeout move up after something positive from the Fed’s (like NO interest rate increase this September).
It’s hard to read the charts right now as it’s clear that SkyNet is shaking both bulls and bears before the next big move down. They want bulls trapped and bears scared to short. So another move up should scared out the bears and get the bulls back on board the bus again.
No guarantee of this move up of course but if I were SkyNet I’d do one more fakeout. Look at 10/03/2014 and 10/08/2014 to see how they had two big tricky rallies before the did the real drop that started the 5 days straight down from 1967 SPX to the 1820 low.
There’s a new TV series out called “Mr. Robot” on AMC network that looks too me like they are planting a seed in the sheep’s mind that a bunch of young rebel hackers have the power to bring down the financial system like in the 2008 crash… only worst.
They already did 2 episodes and a new one airs this Wednesday. I’ll be watching closely to see if they put out any dates on billboards in the background, license plates, TV’s playing, or who knows… another passport?
The Greeks voted for their own demise. I guess it’s easy technically to vote against austerity when you don’t look at the consequences and a huge percentage of the gullible youth were behind the NO vote.
They are about to be paid in IOUS which will instantly be worth 50% less than their face value. Capital controls mean businesses can’t be extended any credit for purchasing supplies and foreign suppliers have cut off business with Greek entities. Their pensions that the Syriza party is so “adamantly” fighting for will be eviscerated in the swift devaluation.
This looks like the blueprint straight out of 1917-1920 Russia but it’s hard to feel sorry for the Greeks after seeing them dancing on the streets after their momentous NO vote. This is all staged anyway.
I didn’t think they would gap the market down two weekends in a row. They filled the gap pretty quickly and by the close today the SP was at last Thursday’s levels. Meanwhile, a certain little indicator, the Nasdaq version, keeps on getting more negative even with today’s rally and decent action last Thursday, playing catchup to the NYSE version which coincidentally rallied up to near its 0 line today. I thought they would the hold the market up until the moon entered Aries which it has now done and coincidentally we are seeing meltdowns in the market(across all continents). The plot twist they used was to get the market with the news that the Greek Finance minister/ actor was resigning.
Finally got the up I seen in the Futures yesterday. But it should looked ugly this morning. Now I guess we are going up toward that 2090-2100 SPX zone as I previously thought.
Eurozone leaders are locked in an emergency summit tonight that will, most likely, determine Greece’s future in the eurozone… so you can blame this rally on that I guess? Funny how well timed all this news is… LOL.
Of course if nothing good comes out of it then down we go again…
Yes, very tricky right now. And how convenient is it that stockcharts was down yesterday for several hours and today some of Ameritrades charts aren’t working.
Funny how trading gets halted when the selling increases. http://www.cnbc.com/id/102806720
I don’t get the feeling it’s going to breakdown for the “Big Move” this week but one should get short before this week ends and hold it short for about 3 weeks. I see a huge drop starting next week. It will make this weeks’ drop look like nothing.
Hopefully we get a bounce after the FOMC meeting today at 2pm EST. We are now making an “Inverted Head and Shoulders” with today’s move down to make the right shoulder. While the charts are still very bearish I wouldn’t be surprised if we don’t get one more fakeout move up after something positive from the Fed’s (like NO interest rate increase this September).
It’s hard to read the charts right now as it’s clear that SkyNet is shaking both bulls and bears before the next big move down. They want bulls trapped and bears scared to short. So another move up should scared out the bears and get the bulls back on board the bus again.
No guarantee of this move up of course but if I were SkyNet I’d do one more fakeout. Look at 10/03/2014 and 10/08/2014 to see how they had two big tricky rallies before the did the real drop that started the 5 days straight down from 1967 SPX to the 1820 low.
Morning Update: Wait and see. I don’t have any opinion up or down. Charts mixed.
THANKS for your work on keeping people updated!
There’s a new TV series out called “Mr. Robot” on AMC network that looks too me like they are planting a seed in the sheep’s mind that a bunch of young rebel hackers have the power to bring down the financial system like in the 2008 crash… only worst.
They already did 2 episodes and a new one airs this Wednesday. I’ll be watching closely to see if they put out any dates on billboards in the background, license plates, TV’s playing, or who knows… another passport?
http://www.imdb.com/title/tt4158110/
“This is all staged anyway.” Too funny Geccko.
The Greeks voted for their own demise. I guess it’s easy technically to vote against austerity when you don’t look at the consequences and a huge percentage of the gullible youth were behind the NO vote.
They are about to be paid in IOUS which will instantly be worth 50% less than their face value. Capital controls mean businesses can’t be extended any credit for purchasing supplies and foreign suppliers have cut off business with Greek entities. Their pensions that the Syriza party is so “adamantly” fighting for will be eviscerated in the swift devaluation.
This looks like the blueprint straight out of 1917-1920 Russia but it’s hard to feel sorry for the Greeks after seeing them dancing on the streets after their momentous NO vote. This is all staged anyway.
I didn’t think they would gap the market down two weekends in a row. They filled the gap pretty quickly and by the close today the SP was at last Thursday’s levels. Meanwhile, a certain little indicator, the Nasdaq version, keeps on getting more negative even with today’s rally and decent action last Thursday, playing catchup to the NYSE version which coincidentally rallied up to near its 0 line today. I thought they would the hold the market up until the moon entered Aries which it has now done and coincidentally we are seeing meltdowns in the market(across all continents). The plot twist they used was to get the market with the news that the Greek Finance minister/ actor was resigning.
Finally got the up I seen in the Futures yesterday. But it should looked ugly this morning. Now I guess we are going up toward that 2090-2100 SPX zone as I previously thought.
Eurozone leaders are locked in an emergency summit tonight that will, most likely, determine Greece’s future in the eurozone… so you can blame this rally on that I guess? Funny how well timed all this news is… LOL.
Of course if nothing good comes out of it then down we go again…
Yes, very tricky right now. And how convenient is it that stockcharts was down yesterday for several hours and today some of Ameritrades charts aren’t working.