It will be 707years7months from the original Friday the 13th episode tomorrow. Some other nice hits to the date but the technical configuration isn’t there quite yet although something might materialize.
A certain little indicator is still heading south with its component reversing down yesterday after nearly reaching near the O line Friday.
Higher support held early this morning so 2070 area wasn’t tested. The real test going into Wednesday is to see a big gap up over resistance from a triple top area recently formed. If the ES Futures can pierce through around 2107 going into the open tomorrow there’s a good chance we’ll see a big squeeze all day and into Thursday for new highs.
However, failure to breakout should lead to a nasty sell off that this go around should test that 2070 area on the SPX. I’m not sure which way they plan to take the market here but it should be fairly clear by the open tomorrow.
Bears get screwed again! From the looks of the ES Futures the market will open with a gap down and be oversold preventing the bears from a good short entry and forcing them to chase it the last leg down. I’m expecting the SPX to be oversold by midday as well which tells me the bears had better not hold this into Wednesday.
From prior oversold conditions on the ES Futures a bottom was put in that day and started to rally into the close and the next few days that followed. So if you aren’t already short I’d just wait it out and look for a spot to go long at. The 2070 SPX has the best support should the market drop that low.
This next rally should be the one to breakout to new highs I believe. If the ES Futures gets above 2115 in the next day or so we should see a quick squeeze up another 10-15 points to 2125-2130. So bears should be looking to exit today around 2070 SPX and flip to bulls I think.
Let’s just say it would be a perfect time to “announce” something on Sunday after whipsawing everyone back out of the market today. Today reminds me of a similar candle on May 31, 2011 or that other day in the quaint 10-13 period of so long ago (no not 707 years ago, that’s the wrong double 7)….
Well another whipsaw, but a third lower high for the SP. $rut and $nasdaq underperformed Dow and SP and Transports basicllay gave back most of their gains. This is similar to another bounce off the lower Bband back in the early mid October period double 7 years ago. $rut, transports still below their previous Parabolic SAR support while a component of a certain little indicator bounced up to near the O line.
————-
Sunday will be 5-10-15, probably the last time we’ll be able to see a 66 for the year.
Thus running out of time for 12s as well unless one uses the 12 as a 5. Could it be an occultic Pentecost? 35 days following Easter. I was looking for today as a possible one with it being 33 days later but it was missing the 5 for the “pente”cost. Do the Greeks have something planned for Sunday. Still I don’t see it as the denouement date.
Interesting chart: http://charts.equityclock.com/wp-content/uploads/2010/04/image117.png
This could be a boring day as the charts look too weak to breakout through overhead triple top resistance right now.
It will be 707years7months from the original Friday the 13th episode tomorrow. Some other nice hits to the date but the technical configuration isn’t there quite yet although something might materialize.
A certain little indicator is still heading south with its component reversing down yesterday after nearly reaching near the O line Friday.
Higher support held early this morning so 2070 area wasn’t tested. The real test going into Wednesday is to see a big gap up over resistance from a triple top area recently formed. If the ES Futures can pierce through around 2107 going into the open tomorrow there’s a good chance we’ll see a big squeeze all day and into Thursday for new highs.
However, failure to breakout should lead to a nasty sell off that this go around should test that 2070 area on the SPX. I’m not sure which way they plan to take the market here but it should be fairly clear by the open tomorrow.
Bears get screwed again! From the looks of the ES Futures the market will open with a gap down and be oversold preventing the bears from a good short entry and forcing them to chase it the last leg down. I’m expecting the SPX to be oversold by midday as well which tells me the bears had better not hold this into Wednesday.
From prior oversold conditions on the ES Futures a bottom was put in that day and started to rally into the close and the next few days that followed. So if you aren’t already short I’d just wait it out and look for a spot to go long at. The 2070 SPX has the best support should the market drop that low.
This next rally should be the one to breakout to new highs I believe. If the ES Futures gets above 2115 in the next day or so we should see a quick squeeze up another 10-15 points to 2125-2130. So bears should be looking to exit today around 2070 SPX and flip to bulls I think.
Failure to break above 2115 ES (2120 SPX) Tuesday should lead to a strong down day.
This 10 point pullback looks like a wave 4 down with one more wave 5 up tomorrow yet to come.
Short term charts are very overbought and suggest a pullback soon. Tuesday we could drop some, so bulls should beware.
Let’s just say it would be a perfect time to “announce” something on Sunday after whipsawing everyone back out of the market today. Today reminds me of a similar candle on May 31, 2011 or that other day in the quaint 10-13 period of so long ago (no not 707 years ago, that’s the wrong double 7)….
Well another whipsaw, but a third lower high for the SP. $rut and $nasdaq underperformed Dow and SP and Transports basicllay gave back most of their gains. This is similar to another bounce off the lower Bband back in the early mid October period double 7 years ago. $rut, transports still below their previous Parabolic SAR support while a component of a certain little indicator bounced up to near the O line.
————-
Sunday will be 5-10-15, probably the last time we’ll be able to see a 66 for the year.
Thus running out of time for 12s as well unless one uses the 12 as a 5. Could it be an occultic Pentecost? 35 days following Easter. I was looking for today as a possible one with it being 33 days later but it was missing the 5 for the “pente”cost. Do the Greeks have something planned for Sunday. Still I don’t see it as the denouement date.