I see them turning this market back up tomorrow and rallying… at least that what I read in the charts. This assumes the initial claims numbers are horrible and the market tanks hard from them. I don’t think that will happen though as volume is light today. I hate to be the contrarian here, but I don’t see this market crashing this week.
Actually, it is 7months 7days from the date of the photo. 8months7days is 10-28, or the end of the world according to the Mayan Calendar as seen above, but I have always seen the date as 10-27. Is Elenin really Nirabu or some planet that appears every several thousand years to mark the end of one astro age?
Breadth is pretty negative today and crude oil,gold,silver are all down which is all I care about now. They generally are the leading indicator indices along with copper and the $bkx and russell 2000, Sox which I am guessing are all down(russell is for sure) right now.
Up a single cigarette.
I see them turning this market back up tomorrow and rallying… at least that what I read in the charts. This assumes the initial claims numbers are horrible and the market tanks hard from them. I don’t think that will happen though as volume is light today. I hate to be the contrarian here, but I don’t see this market crashing this week.
Buying a small position of FAS.
Descending Triangle of ES: http://niftychartsandpatterns.blogspot.com/2011/09/descending-triangle-of-es.html
DR copper is significantly down. That is one great indicator for the overall economy.
Actually, it is 7months 7days from the date of the photo. 8months7days is 10-28, or the end of the world according to the Mayan Calendar as seen above, but I have always seen the date as 10-27. Is Elenin really Nirabu or some planet that appears every several thousand years to mark the end of one astro age?
Breadth is pretty negative today and crude oil,gold,silver are all down which is all I care about now. They generally are the leading indicator indices along with copper and the $bkx and russell 2000, Sox which I am guessing are all down(russell is for sure) right now.
If it breaks through that 1165 spx area, where that upward supporting trendline is, then yes… it should fall nicely.
This market does not feel very strong, I took a small short position.
Choppy “end of month” window dressing it looks like. Here’s a couple of short 5 minute video updates…
Part 1: http://screencast.com/t/iRuVqCvMHeu
Part 2: http://screencast.com/t/PPPy4I7k84
SPX Chart: http://niftychartsandpatterns.blogspot.com/2011/09/s-500-trend-update.html