The market traded about 10-12 points down all night and never made a move back up, which I find odd? The volume is so low that I can’t get a read on the overbought/oversold conditions of the 4h, 2h, and 60 minute charts on the ES (the S&P futures), so a direction still isn’t clear at the moment.
The spy and the spx also aren’t giving a clear direction either. Since the volume is still light, I’d have to favor the bulls as long as we don’t take out the lower trendline in this triangle which is around 1235 spx. If not, then I’d be looking for the market to turn back up by noon or sooner. Remember, the gangsters hate the bears and love the bulls. When the market is at a crossroads, the bulls are the favor as they are being fed crack by Bernanke.
Actually, the gangsters are the one banging this market up despite WTI at $101.
Of, By and For the Criminals!
gangsters pushing oil over $101.
What is your exit point if you are wrong?
Gold Chart: http://niftychartsandpatterns.blogspot.com/2011/11/gold-chart-analysis.html
I thought the Fed’s were the criminals? LOL… of course they are… Duh!
WTI just blew right thru 101.
Looks to me like they got saved overnight, again. Euro and es got bought big again. Just a simple transfer of wealth from the Fed to to the criminals.
Good Morning gang…
The market traded about 10-12 points down all night and never made a move back up, which I find odd? The volume is so low that I can’t get a read on the overbought/oversold conditions of the 4h, 2h, and 60 minute charts on the ES (the S&P futures), so a direction still isn’t clear at the moment.
The spy and the spx also aren’t giving a clear direction either. Since the volume is still light, I’d have to favor the bulls as long as we don’t take out the lower trendline in this triangle which is around 1235 spx. If not, then I’d be looking for the market to turn back up by noon or sooner. Remember, the gangsters hate the bears and love the bulls. When the market is at a crossroads, the bulls are the favor as they are being fed crack by Bernanke.
Yeah no kidding. There’s no point to holding any position overnight, it seems!