Downside could be limited today as the futures act like they want to turn back up on the 60 minute chart. The 2 hour could go either way and the 4 hour is still pointing down, which should keep some downward pressure on the 60 minute chart. The SPX cash is still overbought on it’s 60 minute chart and acts like it wants to turn back up too.
But considering how high up the MACD’s are at on that chart I just don’t see a big rally from these levels. I can only think that today might not be that much of a down day. Thursday is yet to be known as we need to see how today closes first.
Another review of our favorite pastor-whistleblower…. https://www.youtube.com/watch?v=plyp2rzWbgA
I was thinking the same thing a day or so ago when I seen the split… LOL
http://screencast.com/t/pNjy4fGskyg
Looks like 35.95 on TVIX may be reverse split objective if market finally corrects.
I read a ways back that they were surprised the outcry was far less then then expected from the banking collapse in Cyprus
ES Futures Update: http://screencast.com/t/tdSXAFfS2X
WOW… great article. Thanks.
“…they are determined to make a new high on the SPX and DOW
as the Nasdaq and Russell already have.”
… their real concern should be the Transports!
Why Is The EU Forcing Nations To Adopt ‘Bail-In’ Legislation By The End Of The Summer?
http://theeconomiccollapseblog.com/archives/why-is-the-eu-forcing-european-nations-to-adopt-bail-in-legislation-by-the-end-of-the-summer
“not a single bank account in the European Union will ever be truly safe again.”
Short term charts are neutral to oversold. Shorts be cautious here as a Greek deal tonight could cause a bear squeeze.
Downside could be limited today as the futures act like they want to turn back up on the 60 minute chart. The 2 hour could go either way and the 4 hour is still pointing down, which should keep some downward pressure on the 60 minute chart. The SPX cash is still overbought on it’s 60 minute chart and acts like it wants to turn back up too.
But considering how high up the MACD’s are at on that chart I just don’t see a big rally from these levels. I can only think that today might not be that much of a down day. Thursday is yet to be known as we need to see how today closes first.