Keep your eyes and ears on the news to listen if one of the gangsters (Warren Buffet or George Soros) says something really negative about the economy, as that’s the signal that the bottom is in.
The top line of resistance on the VXX is now coming in around 24.25 or so, which I think will match up with the major trendline of support on the SPX coming in around 1290-1291 or so. The market should bounce there as the VXX hits strong resistance.
Once they announce some new about the debt ceiling (something positive of course), we should expect a huge rally. This selling is coming close to ending I believe. Remember, the 15th was a turn date… so give it a +/- window of 3 days and tomorrow should be about it.
I think it will have it’s purpose once everyone finds it. I think the chat room will be the place daytraders meet. Just a cool back up to the disqus system that goes down from time to time.
I meant ask you too… if you mine me promoting your site on my new site StockMarketBloggers.com? I’m pulling in your rsss feeds and linking back to your site. Let me know if that is ok.
Just a reminder gang…
Keep your eyes and ears on the news to listen if one of the gangsters (Warren Buffet or George Soros) says something really negative about the economy, as that’s the signal that the bottom is in.
SPY Intraday update: http://niftychartsandpatterns.blogspot.com/2011/07/spy-intraday-update.html
The top line of resistance on the VXX is now coming in around 24.25 or so, which I think will match up with the major trendline of support on the SPX coming in around 1290-1291 or so. The market should bounce there as the VXX hits strong resistance.
Once they announce some new about the debt ceiling (something positive of course), we should expect a huge rally. This selling is coming close to ending I believe. Remember, the 15th was a turn date… so give it a +/- window of 3 days and tomorrow should be about it.
I still think we are going to rally this week. This just looks like a capitulation move to me. All the bears are onboard the train now…
The next level of support is around 1290 spx…
Thanks Kevin…
I’m going to have the chat window open throughout the day for anyone interested.
I signed up…I think. LOL! Good luck on the launch!
That’s Free marketing for my site. who is going to deny it.
Go ahead red, Thanks in advance.
Thanks TurboTim…
I think it will have it’s purpose once everyone finds it. I think the chat room will be the place daytraders meet. Just a cool back up to the disqus system that goes down from time to time.
Hey San,
I meant ask you too… if you mine me promoting your site on my new site StockMarketBloggers.com? I’m pulling in your rsss feeds and linking back to your site. Let me know if that is ok.