I’m still looking for a higher high today or Friday then Wednesday’s high. We need a small squeeze up to that 212.97 SPY print preferable, but at least one penny over the current high of 212.24 SPY and 2119.59 SPX.
About a 93% chance of a higher high Tomorrow or Friday. My guess is that they use the jobless claims numbers at 8:30 am EST to spark a quick 10-15 point squeeze. Then at the open it should be a short for several days with a 30-40 point pullback.
Well, it is the end of the month, so I’m sure they are selling some high risk stocks and buying safer ones (got to hold them for at least 3 business days per month). But I think we’ll peak Thursday (around 2025-2030 SPX) and then we should pullback 30-40 points minimum into early next week.
have you noticed that sell offs come on pretty large volume, but breakouts are on tiny volumes. We’re in the ultimate “kick the can” scenario here, whether we’re talking about debt, Greece, Ukraine, mortgages, buybacks, etc. The entire focus seems to be “lets get past this week” and they do it over and over again.
I wouldn’t be surprised to at least see a couple flat days.
What I’m seeing for the ES Futures: http://screencast.com/t/NHcRpBkKIacb
Very high odds that the market will drop Friday. The Dow Transports is telling us what’s coming.
I’m still looking for a higher high today or Friday then Wednesday’s high. We need a small squeeze up to that 212.97 SPY print preferable, but at least one penny over the current high of 212.24 SPY and 2119.59 SPX.
About a 93% chance of a higher high Tomorrow or Friday. My guess is that they use the jobless claims numbers at 8:30 am EST to spark a quick 10-15 point squeeze. Then at the open it should be a short for several days with a 30-40 point pullback.
Has the downfall started already???
LOL… yes, I meant 2125-2130 SPX.
you meant 2125-2130
Well, it is the end of the month, so I’m sure they are selling some high risk stocks and buying safer ones (got to hold them for at least 3 business days per month). But I think we’ll peak Thursday (around 2025-2030 SPX) and then we should pullback 30-40 points minimum into early next week.
have you noticed that sell offs come on pretty large volume, but breakouts are on tiny volumes. We’re in the ultimate “kick the can” scenario here, whether we’re talking about debt, Greece, Ukraine, mortgages, buybacks, etc. The entire focus seems to be “lets get past this week” and they do it over and over again.
I wouldn’t be surprised to at least see a couple flat days.
Gold charts: http://niftychartsandpatterns.blogspot.in/2015/02/descending-channel-and-golden-ratio-of.html