We have a high on 11-3 of 1263.21, then 1259.62 this morning (11-7) and now we are just below that at 1259.55, which makes one wonder what they are thinking? They are so close that they could easily make a new high… why haven’t they? Triple tops are rarely not broken on the next attempt, which all bulls know.
That means the odds of it breaking out are high, which means that there are lots of bulls get on board right now. A failure to breakout above the current highs is very bearish though, and should lead to a big move down.
Yep… I had a gut feeling that I was getting short too early. But I’ll stay short to see how this plays out. So far, we are just chopping up and down in that triangle. We need to see something come out on the news to tank this pig. Maybe after the close today?
We have a high on 11-3 of 1263.21, then 1259.62 this morning (11-7) and now we are just below that at 1259.55, which makes one wonder what they are thinking? They are so close that they could easily make a new high… why haven’t they? Triple tops are rarely not broken on the next attempt, which all bulls know.
That means the odds of it breaking out are high, which means that there are lots of bulls get on board right now. A failure to breakout above the current highs is very bearish though, and should lead to a big move down.
Here’s your “false breakout” and “false breakdown” that is chopping the bulls and bears up..
http://www.screencast.com/t/BsbQqIkoSsk1
I remain short.
Arrggh…
http://reddragonleo.com/wp-content/uploads/fp-spy-at-811am-and-838-am.jpg
Should have paid closer attention…
Jackson verdict in 2 hrs, riot on the streets a possibility
Look at SPY with 3 min charts…HFT signature volumes. Why I always use 3 min.
Yep… I had a gut feeling that I was getting short too early. But I’ll stay short to see how this plays out. So far, we are just chopping up and down in that triangle. We need to see something come out on the news to tank this pig. Maybe after the close today?
Madman Ben + HFTs = MARKET RAMP!
Damn, forgot it again!
Too funny…
http://www.zerohedge.com/news/mf-global-jefferies-barclays
There’s the link.
Dude, scroll down to the Barclays story on ZH…Barclays has $66.6 billion exposure to PIIGS.