I went short the Euro before going to bed, WOW, what a pleasant surprise. Everyone was bullish as heck on it over at the forexfactory, and I consulted the calibrator and…… wow. It got smoked.
I am still very neutral on this SPX. Haven’t consulted the calibrator. I want a big move up to short into though. Same for Gold.
5 day ARMS <.7, which is a sell signal in non bull markets. Trin ($arms index) hit a miniscule .30 today. 5 and 10 day tick averages at the high end of their ranges and equity put call ratio got down to .53 which is pretty low even in an uptrending bull. This sort of reminds me of the big 2 day move following the Lehman event in September 2008 (Thursday and Friday of options expiration week) although this rally wasn't as large. The Thursday 2008 bar similar to Friday's with an initial spike low that was reversed into a large up trend day accompanied by a moderate Arms reading only to see an even bigger rally the following day with a miniscule Arms reading. It is also similar to May 31st with the series of up days culminating in a grand finale big upday with it breaking out of the previous resistance range this time.
(false breakout)
It also has elements of the mid June chop bottom with a series of reversals although I don't think this rally will extend like it did then.
We have a certain astro-component coming into place tomorrow that was in existence in October 1987 while another planet masquerades in its shadow phase deceiving the astro shorters who believe its influence has now waned.
Jeff Cooper has an interesting article on the markets over at minyanville if one can dig it up. He claims many are expecting a backtest of the 200 day average which means it most likely won't happen or at least until after another flush to new lows.
Gold now needs to drop hard tomorrow to keep its TD downcount going. TLT interestingly did not drop to a new low and formed a small red hollow bar indicating there might be a flight into bonds tomorrow.
Yes… hard too say what the gangsters have planned. But, the charts tell me the short term move is up, so I’ll just follow it up until the charts change.
Red on road will be back in about 2 hours brought to you by hotoptionbabe.com 🙂
Got long Gold yesterday on the pull back and having a good day took off 1/2 this a.m looking for 1848
Red on road will be back in about 2 hours brought to you by hotoptionbabe.com 🙂
Got long Gold yesterday on the pull back and having a good day took off 1/2 this a.m looking for 1848
I bought sp shorts at 1204. Hoping for a down fall into the later part of the day. I am going against the bullish view.
I bought sp shorts at 1204. Hoping for a down fall into the later part of the day. I am going against the bullish view.
So far, so very boring.
ES Hour chart analysis: http://niftychartsandpatterns.blogspot.com/2011/08/s-500-futures-hour-chart-analysis_30.html
Gold coming up into shorting territory again, I want more height on it though. Lol.
I went short the Euro before going to bed, WOW, what a pleasant surprise. Everyone was bullish as heck on it over at the forexfactory, and I consulted the calibrator and…… wow. It got smoked.
I am still very neutral on this SPX. Haven’t consulted the calibrator. I want a big move up to short into though. Same for Gold.
5 day ARMS <.7, which is a sell signal in non bull markets. Trin ($arms index) hit a miniscule .30 today. 5 and 10 day tick averages at the high end of their ranges and equity put call ratio got down to .53 which is pretty low even in an uptrending bull. This sort of reminds me of the big 2 day move following the Lehman event in September 2008 (Thursday and Friday of options expiration week) although this rally wasn't as large. The Thursday 2008 bar similar to Friday's with an initial spike low that was reversed into a large up trend day accompanied by a moderate Arms reading only to see an even bigger rally the following day with a miniscule Arms reading. It is also similar to May 31st with the series of up days culminating in a grand finale big upday with it breaking out of the previous resistance range this time.
(false breakout)
It also has elements of the mid June chop bottom with a series of reversals although I don't think this rally will extend like it did then.
We have a certain astro-component coming into place tomorrow that was in existence in October 1987 while another planet masquerades in its shadow phase deceiving the astro shorters who believe its influence has now waned.
Jeff Cooper has an interesting article on the markets over at minyanville if one can dig it up. He claims many are expecting a backtest of the 200 day average which means it most likely won't happen or at least until after another flush to new lows.
Gold now needs to drop hard tomorrow to keep its TD downcount going. TLT interestingly did not drop to a new low and formed a small red hollow bar indicating there might be a flight into bonds tomorrow.
Yes… hard too say what the gangsters have planned. But, the charts tell me the short term move is up, so I’ll just follow it up until the charts change.