I think they just ran out of shorts to squeeze ACP? So they needed to get some more retail bears on board in order to push it up higher. I wouldn’t doubt if they don’t close this day flat with a doji before it’s over with. Then some finally push higher to squeeze out the last bear, on some B.S. news released about the EU meeting outcome… and THEN Crash!
They want to ramp it higher for fear of a sell the news event. Just more euros the fed will have to buy…the only reason they’re taking it down is because of crude.
Bottoming tails showing up gang…. not good for the bears. This looks like a staged sell off to work off the overbought conditions. They released news about the EU meeting being canceled for Wednesday, and the market sold off hard. Now they are releasing more news that it’s back on again… just total BS to give the market another chance to push up higher.
I’m glad I didn’t get short too early. I’m likely going to wait until the end of the day today now, or tomorrow morning before getting short. They have worked off the overbought conditions on many of the short term charts now, and will have most of the remaining one’s done by the end of the day. Just pure manipulation gang…
Tough call here gang as my emotion’s want me to go short, but my gut tells me this is a ‘fakeout’ move down, followed by a run up one more time to take out these new shorts… and then the 2nd move down being the “real” selloff that we have been looking for. I’m just sitting on my hands right now trying to figure this out.
Good morning gang… looks like we “could” get a pause day today? I’m still in cash and waiting, as I don’t believe the upside is done just yet. Let’s see how today goes first.
Some good reading above, interesting when even Kevin ponders why the markets floats higher with no institutional support. Also note how well Domino’s has done. Cheers.
I think they just ran out of shorts to squeeze ACP? So they needed to get some more retail bears on board in order to push it up higher. I wouldn’t doubt if they don’t close this day flat with a doji before it’s over with. Then some finally push higher to squeeze out the last bear, on some B.S. news released about the EU meeting outcome… and THEN Crash!
RUT and Transports leading down, but crude sitting tight.
They want to ramp it higher for fear of a sell the news event. Just more euros the fed will have to buy…the only reason they’re taking it down is because of crude.
Quick 5 Minute Video Update…
http://screencast.com/t/PLGCfGMaKNc
Bottoming tails showing up gang…. not good for the bears. This looks like a staged sell off to work off the overbought conditions. They released news about the EU meeting being canceled for Wednesday, and the market sold off hard. Now they are releasing more news that it’s back on again… just total BS to give the market another chance to push up higher.
I’m glad I didn’t get short too early. I’m likely going to wait until the end of the day today now, or tomorrow morning before getting short. They have worked off the overbought conditions on many of the short term charts now, and will have most of the remaining one’s done by the end of the day. Just pure manipulation gang…
I’m looking for a bounce here gang. Then I plan to get short for the next move down. Should be within the next 30 minutes or less.
Tough call here gang as my emotion’s want me to go short, but my gut tells me this is a ‘fakeout’ move down, followed by a run up one more time to take out these new shorts… and then the 2nd move down being the “real” selloff that we have been looking for. I’m just sitting on my hands right now trying to figure this out.
Good morning gang… looks like we “could” get a pause day today? I’m still in cash and waiting, as I don’t believe the upside is done just yet. Let’s see how today goes first.
ES Trend update: http://niftychartsandpatterns.blogspot.com/2011/10/es-trend-update_25.html
http://gilmoreport.com/marder/book/current.php
http://www.cobrasmarketview.com/2011/10242011-market-outlook-overbought/
Some good reading above, interesting when even Kevin ponders why the markets floats higher with no institutional support. Also note how well Domino’s has done. Cheers.