Thursday Update...
Could the Stock Market Crash on Friday the 13th?
(to watch on youtube: http://www.youtube.com/watch?v=wPmbU0ecrV8)
All the short term charts point to one nasty Wave 3 possible for tomorrow. Will the gangsters that control the market allow it to happen... or do they want it to happen? Since the April 30th to May 2nd Legatus meeting ended, the market has been selling off hard. In fact, we actually did crash in the Silver market... what's next?
Red
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Wednesday Update...
(to watch on youtube: http://www.youtube.com/watch?v=6pGadbYHi7M)
Lindsey Williams on Radio Liberty 05-03-11
(to watch on youtube: http://www.youtube.com/watch?v=jMcH6ZhhlH0)
Red
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Monday Update...
(to watch on youtube: http://www.youtube.com/watch?v=0ORll2GTbCM)
Red
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The hairs on my arm are standing up now, as I know another False Flag Event is coming soon!
(to watch on youtube: http://www.youtube.com/watch?v=EVuKxO6b3kc)
Yes, the Elite Gangster Illuminati Cabal members in Washington, DC are planning the reason for America to go to war. Â What will the event be? Â I don't know, but next week has a lot of symbolism and ritual dates in it! Â So, Â is this Illuminati Card next? Â (Staged of course.... just like all the events and wars of the last 150 years or more)
Hard too say what George H. Bush, Henry Kissinger, Dick Cheney, David Rockefeller, George W. Bush, Bill Clinton, Hillary Clinton, Jay Rockefeller, George Soro's, Warren Buffet, and the rest of the gangsters have in mind. Â Obama wants it too, as his rating are at an all time low right now. Â What better time then now to say Osama (real name... Tim Osman) was killed, as "if" they go to war from another False Flag Attack, he will be a hero for saving us sheep!
Below I want to share with you an email I got from a newsletter that I subscribe to... just in case you thought I was nuts. Â We'll, even if I am... I'm not alone!
Start Quote>>>>
Joel Bowman, briefly, from Manhattan, New York...
Almost a week has passed since Osama bin Laden, America's biggest, baddest boogeyman, got his long-coming bullet. The Internet this week was awash with conjecture and conspiracy theory. Was he actually killed and, if so, when? What were the circumstances surrounding his death and burial? Is he alive? The list goes on.
We've seen plenty of flag waving and fist pumping from the "Mission Accomplished" crowd. But what, really, has been achieved here? Do you feel safer this week than last, after being told that bin Laden is gone and the US government has the situation is under (increasing) control(s)?
We offer this weekend a slightly different perspective from guest editor, Gary D. Barnett. You may not agree with many (or even any) of his views but, at this point in time, when so much hangs in the balance, it pays to keep an open and informed mind. Please enjoy...
In Death Osama bin Laden Causes Another War
Gary D. Barnett
There has never been such an opportunity for the US government to stage a false flag event in order to start yet another war as there is today. The set up is obvious to libertarians and some sane others, but it eludes most all Americans who are busy dancing in the street after the so-called killing of Osama bin Laden.
Consider the timing of this attack by US Navy SEALs, and then consider recent events. First, the economy is in shambles, unemployment is sky high, price inflation is excessive, and the US military has been bombing civilians in an attempt to assassinate Gaddafi, including murdering innocent little children. Our money is being destroyed before our eyes. The wars are not going well for the ruling elite, and Obama's ratings are horribly low at the beginning of his presidential crusade. One very important factor is that criticism of these wars has been growing at an accelerated pace. Hatred of the insidious TSA is also becoming much more evident. While civil liberty destruction is still rampant, it is being questioned more often, and with increased intensity.
What better reason then for an event to solidify the masses, and put them on guard for the now coming "terrorist" attacks due to the death of bin Laden. This stone kills a lot of birds it seems, and in my opinion this is no coincidence. In a matter of a few hours, the serfs were in the streets carrying flags, and screaming "God bless the USA." All the media was abuzz with fervent displays of renewed patriotism.
But what came next should have been expected. We were told that the scourge of the east was dead. One would think that the head of the monster had been forever severed, and that the war would end, but that would not be the case. The politicians and talking heads in the media immediately went on the offensive, and stated that we should be even more vigilant in the war on terror because there will be more attacks due to bin Laden's death.
Hillary Clinton began her talk by praising the troops for their "courage and commitment." Yes, the troops had once again become our saviors, literally pulling us from the mouth of the beast. In her next statement she strongly exclaimed "we will continue taking the fight to al Qaeda and their Taliban allies." She next talked about even more massive interference and imperialistic goals. "All over the world we will press forward, bolstering our partnerships, strengthening our networks, investing in a positive vision of peace and progress, and relentlessly pursuing the murderers who target innocent people." (Emphasis added) Really! The US killing machine is going after all those who target innocent people, and all over the planet? That is hypocrisy beyond understanding.
These events are shaping future foreign policy, and the window of opportunity in my opinion is short. All that is necessary is to rally the sheep around the flag, and that was accomplished by the charade in Pakistan.
Police in some areas have already increased security measures, and intelligence gathering has intensified. In New York, more police have been sent to patrol subways, airports, and bridges. This is just the beginning. More fear has been instilled in the minds of Americans once again, and conditions are ripe for a false flag event staged by those who would gain power and money with more war. Certainly, Obama has an obvious incentive to be the protector of the country given his current presidential run. But many others stand to gain from such an event as well.
All that is now necessary to prosecute the next war by the US Empire is an attack or threat of an attack. Whether manufactured by our own government or not, that event would serve as the lynchpin of yet more US aggression. Aggression not just against those in far away lands, but aggression here at home aimed at our liberty and our freedom.
Nothing is what it seems, and the risk to us all is great. Much scrutiny should be evident concerning anything coming out of Washington D.C. or the mainstream media. Lies abound, but this set up is obvious, and is staring us square in the face. Believing otherwise is foolish as far as I'm concerned, and this is no time for gullibility or flag waving.
What the triggering event will be is not easy to discern, but whatever it is will be obvious once it occurs. Any event that heightens the terror alert or brings calls for retaliation should be examined carefully. It could be a downed airliner, an attack on a US embassy, a bomb inside our borders, or any number of other things. Regardless of the type of aggression, take heed, and don't assume anything. The government lies continuously, and any attack is in this government's, its military, and its corporate partner's best interests.
I understand that many are afraid, but we should not fear any foreign invader. We should only fear our own government because the threat will come from within. We are in a very precarious situation, but because this new threat is so conspicuous, we should be able to see it coming. We are moving inexorably toward the next false flag, but this time even more could be at stake. Nothing should be taken for granted, and none should be surprised by anything that happens.
The monster of the east is gone, but the beast that is the US government is alive and well, and planning chaos. Our eyes should be open and our minds clear, for what is coming is vile. War is criminal and it is unholy, and our government is planning even more aggression. This bin Laden farce is evidence enough. Those who purposely cause and wage war, and do so to gain money and power, are savage, depraved, and evil. But those who applaud the murdering of others in the name of false defense are the enablers. Without the consent of the people, the government would be forced to stand down. It is time to stand up and stop this insanity!
Naturally the common people don't want war... Voice or no voice, the people can always be brought to the bidding of the leaders... All you have to do is to tell them they are being attacked and denounce the pacifists for lack of patriotism.
~ Herman Goering
End Quote>>>>
So what's next you ask?
Are we going to crash the stock market? Â Yes, but probably not until later this year after the next Legatus meeting in October. Â For now, we are just having a correction I believe. Â While the market is looking like it wants to tank right now, as Friday's close was really ugly, there is still the possibility that we will go up one more time and hit the SPY FP of 138.86 before the correction in May really starts.
If not, then we could continue this down move next week... especially if Wednesday 5-11-11 has another "Staged Event" happen. Â It is an important number to the Illuminati, just like when they attacked Japan with HAARP (and/or nuclear bombs planted by US Sub's along the fault line) on 3-11-11. Â They seem to like odd months I believe, which leaves this Wednesday and the coming 7-11-11 open for something bad too happen.
If the market simply bounces up to form a wave 2 up, then it could easily be over by this Wednesday, and a nasty wave 3 down could start. Â However, technically we already had a 61.8% wave 2 retracement up on Friday. Â That means wave 3 down could start on Monday. Â This all assumes that the FP on SPY won't be hit until later this year. Â But, if they plan on hitting it first, then we could go up all of next week to hit it... which would mean that nothing bad would likely happen on 5-11-11 (unless it's something that doesn't effect the stock market?).
Of course I guess there is the slim possibility that the market will go up to the FP by Wednesday, and then some event happens and crashes the market? Â That seems highly unlikely as the FP level is quite far away right now, and it doesn't seem possible that the market could rally that far in such a short amount of time. Â But, nothing surprises me in this rigged, controlled and highly manipulated stock market that we all gamble in.
Or maybe it takes all week and then they play this Illuminati Card?
Hmmm, there are so many things that could happen, it's hard too figure out what the gangsters are planned next. Â Who would have thought that they would crash the silver market last week? Â Ben Bernanke goes on TV and says that commodities will correct soon, and "Bam"... silver crashes! Â Tell me that was planned and manipulated! Â I'm not sure when they will play this card, but this Friday is the 13th... so beware!
Last week looked a lot like the last week of April 2010... just before the "Flash Crash" week! Â Could it happen again this week? Â I think it could, and quite possibly will. Â You have a "now confirmed" sell off after the end of the Legatus meeting April 30th-May 2nd, you have another important ritual date of 5-11-11, as well as very bearish charts across the board. Â But the most telling sign is the possible "False Flag" event that could be staged this week... as the wildcard release of the death of Bin Laden is likely a warning that the gangsters in the White House plan to start WW3 soon. Â That means they have to kill some American's and blame it on someone else in the middle east to get the clueless sheep to rally behind attacking some innocent country.
Sad but true... if only the American sheep would wake up and see the truth! Â American is full of great, kind, giving, and compassionate people... but they still believe all the Bullsh*t on the Main Stream Media! Â Maybe we need "The Great Depression Two" as if people can't afford their Television bill maybe they will wake up from the brainwashing that it has done to them and finally see the truth. Â Only then can we all stand together and arrest this gangsters and free American of the enslavement we have been in for years now.
So to put it simply, next week could be a Blood Bath in the Stock Market... especially if we have another False Flag Event! Â Everything points to more selling next week, even if we don't have anything bad. Â All the charts are bearish. Â While it's possible that they could turn them back up and resume the march higher to the FP on the SPY of 138.86, it seems unlikely. Â And while the bearish patterns aren't confirmed yet, I believe they will be this week.
I'm looking for a move up on Monday and/or Tuesday, but after that I think we will resume the selling. Â Technically, we really don't have too rally up any next week as we did have our 61.8% retracement on Friday... so don't forget that. Â I'm just unsure if that was "it", or if they will rally some Monday to shake out some more bears. Â Remember, we are in the early stages of the selling, and the "fear" really hasn't come back into the market yet. Â There should be "dip buyers" come in and try to resume the uptrend. Â I just think it will fail and roll back down later in the week, and close it will another red bar.
Good Hunting Bears!
Red
P.S. Â Interesting stuff on when Bin Laden really died...
Max Igan - Radio Skidrow - Bin Laden & Fracking - 05/03/11 - 1/2
http://www.youtube.com/watch?v=MjiXrzBpGOQ
Max Igan - Radio Skidrow - Bin Laden & Fracking - 05/03/11 - 1/2
http://www.youtube.com/watch?v=i5-EH8Pzuao&NR=1
Possible Illuminati Timeline For False Flags!
http://prophecyinthemaking.blogspot.com/2011/05/possible-false-flag-timeline-according.html
Dolores Cannon - Convoluted Universe
http://projectcamelotproductions.com/interviews/dolores_cannon/dolores_cannon.html
Osama Bin Laden is really a CIA Operative named Tim Osman
You are in rare form RED. This week ought to be interesting…
Some idea of bear Target levels IMHO.
http://practicalt.blogspot.com/2011/05/may-09-forecast.html
bulls have about 24 hrs to ‘get it up’.
-GG
well we love you, Red. I want you to know that before you get drowned in the drink, haha, jk.
well we love you, Red. I want you to know that before you get drowned in the drink, haha, jk.
Now everyone is asking the Government to “create jobs”, well that is hardly the real issue….don’t get me wrong, the lack of jobs is a serious symptom. What needs to happen is we need to legislate to remove lobbying and gifts, and high paid jobs after the politician leave politics. Then we need to elect and train our leaders into understanding that a wealthy healthy economy is created by building products that people need to buy, education, enforcement of contract law so that hard work and innovation pay off, control of the money supply so that planning and saving pay off, and speaking a common language and by that I mean English, not greed. Pull back 90% of Americans working for the Gov abroad and train them in building and managing the factories that will rebuild America. Slash 40% of all Government programs and jobs, and train them in those same factories. The only way to get rid of the long training of “gov work” is to get pushed into real actual make something with your hands and your brain work.
It is really that simple. The hard part is scraping away the vampire squid.
http://oahutrading.blogspot.com/2011/05/jobs-and-wealth-what-really-makes-real.html
ES Chart :
http://niftychartsandpatterns.blogspot.com/2011/05/es-support-and-resistance-levels.html
I would have liked to see a move up to about 1350 spx to backtest the downward upper trend line of the falling channel, but it’s not looking likely. I don’t see anything bullish today gang? Thoughts?
More shaking out of the bulls that got on at the neckline? They don’t want any retail getting on board. When commodities go back up, it will take the S&P with it. I think the FP is very real (1388).
Crude is going up now, and silver is bouncing too. We’ll see how far they can push the market? Remember, we don’t have to hit the FP now, it could be hit later this year.
I dont see much of a bullish case until we come down to SPY 132.30 which is the daily 50MA. Its also the head and right shoulder trendline. VIX is trying its damnest to hit the daily 200 day MA, which will bring the market down. I do believe silver has decoupled from equities and head higher while equities go lower. I have july calls on SLV. All thre debt crisis news and the mid east news is bullish for gold/silver.
Aren’t thier Gold/Silver/oil ETF’s and company stocks on the stock exchange? The fall in the market has been impacted negatively by the fall in commodities, so why eouldn’t a subsequent rebound in commodities pull the market back up with it? We are still in a very real uptrend aren’t we?
SLV is the silver etf. Silver/Gold tends to hold steady or rally during corrections in equities. I compare precious metals with the dollar (/dx).
Silver pulled back to its center bb on the weekly chart and has bounced since. The stock market will correct due to the end of QE2, monthly DOW RSI at 100 and weekly turning over. So i honestly think its apples to oranges.
“The stock market will correct due to the end of QE2”, seems pretty presumptious to me. The QE2 money that the government gets back via maturing bonds will be reinvested back into those banks (according to Berspanke), so they really aren’t taking any liquidity off the table per say. If the job numbers do not support a recovering economy, what do you think the FED will do? He will ease more, that has been considered bullish in the past. As long as we are in an uptrend, long will be the trade IMO.
Well that wasnt my only reason to call for a stock correction starting by June 5th… but yes, QE2 is ending. And yes, there will be more debt monetization. There will be a correction soon. It will start no later than June 5th.
If the SPX hits the 1400+ level before June 5th, then you could be correct in your timing, IMO.
yupyup. Wouldnt be surprised to see the market get overbought again between may 17th and June 5th, after that, correction should begin. At least thats my target. I cant confirm we will get a new high by then..hopefully we will…DOW monthly RSI at 100, need at least the daily to get overbought again…
You got your test of 1350 SPX,.. you happy, pappy? LOL
Yes, as that’s resistance from the upper trendline on this falling channel the market is in. Now let it roll back over and crash! LOL
I am a future human. By the time I write this, it will have been at least 5 more seconds.
LOL… tells us what’s going to happen tomorrow future man!
Well we had heavy FP activity on IWM recently indicating a rally at least over 86 on IWM, so I think the next few days are bullish at least!
SLV Chart:
http://niftychartsandpatterns.blogspot.com/2011/05/slv-near-gap.html
Refresh page for new update…
ES Triangle pattern:
http://niftychartsandpatterns.blogspot.com/2011/05/es-triangle-pattern.html
The RUT and IWM are making this break above the falling trendline look pretty valid…
Sicken to see this BS manipulation… as usually.
30min vix is about to hit its 200 day MA. Typically we get a bounce off of that. So the bears may have a chance after 11am this morning…
What about the 60 minute and 2 hour chart?
The 60 minute chart is now heading into overbought territory, but we all know that overbought conditions can remain overbought for longer than we think, especially in a manipulated market. The gangsters will keep this market up until the one day they decide to flush it and I feel very sorry for all those people who have started reinvesting into stocks with their 401k’s, thinking the coast is now clear…
i agree. New money will get hurt soon. Then their advisor will say “just dollar cost average..when stocks are high, u buy less, when they are cheap, u buy more…just keep sending in yo money!”
Yeah,…I have never received a call from a mutual fund “money manager” to let me know it might be a good time to get a little defensive in the market. LOL! They just want you to invest your money and then they go on vacation when the market collapses.
For your entertainment while the market whips your shorts out… LOL
http://www.youtube.com/watch?v=5c6bjVXLdBM&feature=share
Bears got one more chance at 330 to push thru the VIX 30min 200MA. Can they bounce off of it this time?
SPY Ascending Triangle:
http://niftychartsandpatterns.blogspot.com/2011/05/spy-ascending-triangle-in-hour-chart.html
ES Chart:
http://niftychartsandpatterns.blogspot.com/2011/05/s-500-futures-before-opening-bell_11.html
Sorry I didn’t have time to do a video update last night. I had a computer crash and I was up till 3:30 am fixing it.
As for today… I’m clueless? We are very overbought, but that doesn’t stop the gangsters. I guess we are on our way up to the FP on SPY now?
SLV Analysis :
http://niftychartsandpatterns.blogspot.com/2011/05/slv-resistance-levels.html
Could it be making a massive H&S pattern?
Left shoulder is not properly formed
Nice sell off we have here… 🙂
I wonder if the market manipulators read my comments and posts… and then do the opposite of what say? If so, then I’m expecting a rally today (LOL)!
Since all the short term charts are now very oversold, a nice bounce tomorrow to reset them is expected. That leaves Friday the 13th?
WOW! Just no fear in this market. I wonder what happens to vix and all its ETN/ETF ‘ s when the big fall comes?
At the rate that the short term charts are rallying, while the price level go nowhere, tomorrow and Friday could be ugly! Fear should return then I’m sure!
Aren’t the 15-30-60 SPX charts oversold now? I think this is a pre-initial claims selloff for tomorrows numbers. Not yet shorties…not yet.
We should bounce a little tomorrow I believe, but this is looking like a possible wave 3 down on Friday.
US Dollar Index:
http://niftychartsandpatterns.blogspot.com/2011/05/us-dollar-index-analysis.html
I concur Dr. Red. The Vix is so low its got me scared….
what happen today ? did benenkee go on vacation with his helicopter ?
The charts just actually worked for once BK! LOL
It just amazing how charts like mon,jpm,x and so many others are down so much and the markets have pretty much remained the same.
Refresh page for new video update…
Miami Heat just won their 66th game, 97-87 over the Celtics. The first game of the NBA season was between these two teams with the Celtics winning 88-80. The Thrice number was unveiled on 7-9 last year. The Thrice number===17×8.
The NBA for some reason moved back Game 3 from last Thursday to Saturday and thus Lakers-Mavericks played 2 games while the Heat-Celtics had a 4 day pause between Games 2 and 3. What could possibly have been the reason? Does this game initiate a prophecy????
What reason do you think that they are giving signals through those 2 basketball teams? Why them I wonder? I could see Chicago Bulls and Bears, as that relates to the stock market exchange in Chicago… as well as the term “Bulls” and “Bears”, but what’s in Miami?
Also, the Simpson clock now has June 11th as the next possible date, as the May 6th date didn’t turnout to be anything much. Of course if the June date doesn’t have anything either, then we are back to November the 6th.
They are giving signals through all the basketball teams/games. I saw a ton of them with the Bulls yesterday. The Heat’s first season was 1988. They are getting the media hype. They are the Thrice.
Red,
Here’s a response to your drunk video…this is what will happen when people puke up Madman Bernanke’s QE…
http://www.youtube.com/watch?v=M4u6MzZ-e9A
tried to access your sight today from work, was blocked.
said your site was associated with illegal drugs. yikes!
found a way around it, try this
http://www.rinkworks.com/dialect/
and plug in your favorite site URL.
cheers.
LOL… I must to on to something, or they wouldn’t be doing their stupid games again! The only illegal drugs I take are Vitamins!
ES Chart:
http://niftychartsandpatterns.blogspot.com/2011/05/es-setup-for-fast-fall.html
SLV Chart:
http://niftychartsandpatterns.blogspot.com/2011/05/slv-near-weekly-trend-line.html
Ok gang, since they gapped down below the trendline of support from the rising channel, I’d say that we’ll rally back up some (not a lot) and either roll over into the close or end the day about flat (a “pause” or “doji” day) and then tank hard on Friday. So I’m expecting a lot of chop today.
Just an update gang. I think we will have one more push up and top around 1:30-2:30 pm (est) today. The short term charts should be about topped and ready to rollover about then. This next move down should be a wave 3 that takes us into Friday. 🙂
Red, I think “they” are watching you closely and trying to do the opposite, like George Costanza… They Illuminati is all knowing.
LOL… I’m sure they are! But I don’t care. I’m going long here Ms. Market Maker… are you listening?
Crude Oil Chart:
http://niftychartsandpatterns.blogspot.com/2011/05/crude-oil-moving-up-in-channel.html
We are getting close to topping I believe gang. The 60 minute chart is still pointing up, but all the shorter term charts are overbought now. If the 60 peaks into the close, we could have our wave 3 down tomorrow… if not, then we could rally up a little bit more in the morning tomorrow and let it roll over. Once it does, the selling could be bearishess!
We should have a nice sell off tomorrow gang…
http://reddragonleo.com/wp-content/uploads/spx-trendline-05-12-2011.jpeg
Or, just start selling on the open?
Goldman to start it’s decent into the abyss? Is this our first clue?
http://www.zerohedge.com/article/dick-bove-cuts-goldman-sell-cuts-price-target-163-120
And we know the final destination… http://content.screencast.com/users/raised_by_wolves/folders/Jing/media/e99a363a-8c62-4848-a64e-7ab528e5332b/00001774.png
LOL… yes, we do know the final destination. It should bounce here soon though, as it’s quite oversold right now. But the rest of the market isn’t, so it could have another leg down tomorrow with the rest of the market.
And more from The Market Ticker on our friends from GS…
http://market-ticker.org/akcs-www?post=185973
GS favorite song right now??? It’s gettin hot in here!
 Did someone say Final Destination?
All of the bloggers are down. More strangeness.
The big 4 letter network was rehashing the DECISION ad nauseam today enough so that I expect it is a keyword like PEYOTE on Monday and PIRATE later.
The DECISION took place on 7-8-10, a little 187 reversed which so happened to be 307 days later yesterday which also was 3months 7days from the 10-11-2007 high (187 weeks ago).
It was amusing Sunday when the Dallas coach wondered what Phil Jackson would do in his retirement in Montana and mused could he spend his time smoking PEYOTE to which Phil Jackson responded that one does not SMOKE PEYOTE. I couldn’t connect anything to PEYOTE or crack its code but I do see something with SMOKE. And then the big wheel announcer over at the 4 letter responded that we all know that you don’t smoke peyote, you SNORT it. All fun and games over there.
Boy I am struggling to make a post. I guess the problems aren’t just limited to blogger sites.
Anyway Phil Jackson was fined 35,000 dollars which he laughed off. Andrew Bynum #17, was suspended 5 games and fined $25,000 for his WWW stunt.
Ref #29, of the Blake Griffin episode back on 3-19, was back in action a few days ago forming codes with his fellow refs. All very amusing.
Tomorrow will be the one year anniversary of the official worldwide premiere of Wall Street 2:
http://www.huffingtonpost.com/2010/05/14/wall-street-2-Cannes-premiere_n_576711.html
It was originally scheduled to be released on April 23 last year, the closing high for the market prior to the flash crash, 55 weeks ago. Then it was moved to September 24 which is 33 weeks ago. 22 weeks apart 55-33….
The original of course was released in 1987.
@reddragonleo:disqus
Refresh page for update…
 @reddragonleo:disqus if there’s a rollover tonight,
 keep an eye on the fib fan lines for the Es.
they having been working rather well.
http://tinypic.com/view.php?pic=2cq1zwl&s=7
Good morning gang…
I’m looking for a nice move down today. Â Let’s see if we pop a little in the morning first… then roll over and tank!
Not much of a “pop”… I think we head down the rest of the day.
anyone see CA ? lol… i shorted it yesterday… before close… what a..move baby.
Smart move BK… I think we will tank today! Wahoo!
Tanking Baby! Yeah! Crash… Please! LOL
Red, we need a 4-5X high volume breakdown day to change this uptrend. So far today the volume isn’t impressing me. I still think we see 1400+ before the rollover unless we get a day like I previousely mentioned. GLÂ
Yes… volume is weak, and we are still in the triangle pattern. Â If we break this level, then we should drop hard.
I agree with the daily triangle pattern…im betting we breakout higher. We have reached resistance on the vix at 17.5 and should head higher until early June. Wouldnt be surprised to see the market try its damnest to reach positive territory from here. Â
Yeah,…CNBS is too early with all the “we’re buying the dollar” trade and the”commodities are about to REALLY crash” scenerio. CNBS isn’t helping any retail traders and I get a little worried when they are ahead of the common sense move…
I meant to say we should head higher on the DOW till early june. The triangle breakout should be May 16th/17th.Â
I’m out of my shorts gang. The SPY has low volume with this sell off, and is resting on the long term rising trendline on the daily chart. A break of it and the bears will run with the ball hard.
But as long as it holds, the bulls can rally this up next week and resume the up trend. Then I would expect a run for the 138.86 SPY FP to occur. I think we have just about bottomed for today… and possibly this sell off too?
I was hoping it would rally this week. There may be a chance next week, but if it bottoms on Monday and then goes sideways for a while, might be bad news for bears. If it rallies hard next week, that would be a good thing. The timing doesn’t seem right for a top. Not ruling anything out, but watching closely…
Hey San… are you out there?
Can you do me a long term chart of silver? I think it bottomed yesterday from hitting the rising trendline on the daily, with the line touching the August 24th, 2010 low and the January 28, 2011 low. Could be a great long for the next week or more.
Silver has finished its daily ABC corrective wave down. ALso, on the weekly you can draw a trendline at the bottom of both pullbacks since the breakout and the downside objective has been reached and retested. I bought more silver bullion today. Goodluck guys.
Here is a chart of /si that i posted last weekend, trendline still holds.
http://sharkmarketanalysis.blogspot.com/2011/05/silver-lining.html
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So, they’re opened the LA spillway to keep the flooding from going overboard. It would be quite a devious plan if they decided to cause a huge earthquake now, which would damage the local nuke plants and allow the floodwaters to carry any escaped nuclear material all over and deep into the ground.
 MSFT Weekend update: http://niftychartsandpatterns.blogspot.com/2011/05/msft-weekend-update.htmlhttp://niftychartsandpatterns.blogspot.com/2011/05/msft-weekend-update.html