Do you think it could get to 1218 today GL? That 1210 area is big resistance. It could pierce it I guess, as the gangsters like to push to extremes, but it will be tough to do.
Here we go! Let’s see how high they can take it. Lot’s of resistance around 1210, but you never know what the gangsters have planned. I still think that will stop the bulls, but I’ll be watching closely.
Well, I missed my short entry, but I’m fine with that. It’s looking like they are going to push the market down some to reset the 30 minute chart. I suspect that we will now continue to chop around (with a slow move lower) until around 1pm when Bernanke speaks. By then they will have worked off a a lot of the overbought conditions on that chart and allow it to pop back up into the close.
We could still have a doji day as I spoke of in the newest video update. I’m still not comfortable going short until we put in a higher high then yesterday. My target is around 1210 spx still, and I’ll wait all day until they push it up there. They never make it easy for the bears and they almost always do a stop sweep on them before selling off in a nice move down.
I still don’t know if the move down will be a B wave or the start of wave 3, but either way the smart move is to just wait for the higher high and then go short and stay short until we can figure out whether it is a B wave or 3 wave.
There are very high odds that we put in a higher high then yesterday before any real selling. I still think that the 1210 area is the target it wants to go to, and that ‘s where I’ll get short. This all assumes it happens within the next hour or so… before the 30 and 60 mnute charts get oversold and reset themselves pointing up.
The markets may not move much here until Bernanke speaks.
Do you think it could get to 1218 today GL? That 1210 area is big resistance. It could pierce it I guess, as the gangsters like to push to extremes, but it will be tough to do.
The market is hitting underneath that 1205 level I mentioned, Lets see if it will blast thru it or not after a retrace.
My first stop was going to be 1205 as I mentioned to you Red, than up to 1218 level. Let see if it happens.
CRUDE OIL Resistance line: http://niftychartsandpatterns.blogspot.com/2011/09/crude-oil-resistance-line.html
Here we go! Let’s see how high they can take it. Lot’s of resistance around 1210, but you never know what the gangsters have planned. I still think that will stop the bulls, but I’ll be watching closely.
Nice move!
Back to 2/3 long position. bought at 1192 2 minutes ago.
Well, I missed my short entry, but I’m fine with that. It’s looking like they are going to push the market down some to reset the 30 minute chart. I suspect that we will now continue to chop around (with a slow move lower) until around 1pm when Bernanke speaks. By then they will have worked off a a lot of the overbought conditions on that chart and allow it to pop back up into the close.
We could still have a doji day as I spoke of in the newest video update. I’m still not comfortable going short until we put in a higher high then yesterday. My target is around 1210 spx still, and I’ll wait all day until they push it up there. They never make it easy for the bears and they almost always do a stop sweep on them before selling off in a nice move down.
I still don’t know if the move down will be a B wave or the start of wave 3, but either way the smart move is to just wait for the higher high and then go short and stay short until we can figure out whether it is a B wave or 3 wave.
There are very high odds that we put in a higher high then yesterday before any real selling. I still think that the 1210 area is the target it wants to go to, and that ‘s where I’ll get short. This all assumes it happens within the next hour or so… before the 30 and 60 mnute charts get oversold and reset themselves pointing up.