The UUP (the dollar) just showed a FP of 21.25, which would imply a rally in the market as it goes up when the dollar goes down. The UUP is currently at 21.71 and rising, with overhead resistance at 21.85 or so.
That makes a lot of sense. The charts look pretty nasty right now. 1316 is the 50 DSMA and I would expect the bulls to really defend that MA, so like you stated, maybe not much lower than that area. That cup and handle also could wind up being an inverse H&S. Either one will work for the gangsters.
Yes, it’s been very quite here on the blog for several months now. That’s one of the reason I haven’t done a new post every day. Plus, I’m working on building 2 new websites, which are coming along nicely now, that will really be cool. I’ll hope to launch them soon.
As for the 60 minute chart, I see what you are talking about and I think the measured move is distance from the low to the top of the rim as you stated. Since that is from around 1260 to about 1360, that’s a 100 points up!
Looks like we are on our way to backtest the falling channel top around 1315 (if that breaks, then 1300). But, after such a strong down move like today, we could have a positive day tomorrow. The 60 minute chart still has plenty of room to go lower though, so I wouldn’t get too excited if I were a bull (which of course I’m not… LOL)
Since bullish patterns seem to always work out in this manipulated environment,… on the S&P 60 min chart, it looks like a nice cup and hande setting up. How do we measure the expected distance of that move? Is it bottom of cup to the rim?
The worst thing is, Martha Stewart was not even CHARGED with insider trading. What a perfect mark for an “example”. Everyone knew she was a hard core business woman, a lot of people called her a bitch, and fit the perfect profile for a setup. She was simply convicted for lying to the Feds. Stewart made the mistake of doing what members of the club do for a living…lie.
The UUP (the dollar) just showed a FP of 21.25, which would imply a rally in the market as it goes up when the dollar goes down. The UUP is currently at 21.71 and rising, with overhead resistance at 21.85 or so.
From the strength of this move down, I’d say it’s a wave 3 or C wave… which could easily go to 1300 before it’s finished. We’ll see I guess…
That makes a lot of sense. The charts look pretty nasty right now. 1316 is the 50 DSMA and I would expect the bulls to really defend that MA, so like you stated, maybe not much lower than that area. That cup and handle also could wind up being an inverse H&S. Either one will work for the gangsters.
Gang, I see a FP on the VXX of 22.35, which could be the signal to when the bottom is in on the market?
Yes, it’s been very quite here on the blog for several months now. That’s one of the reason I haven’t done a new post every day. Plus, I’m working on building 2 new websites, which are coming along nicely now, that will really be cool. I’ll hope to launch them soon.
As for the 60 minute chart, I see what you are talking about and I think the measured move is distance from the low to the top of the rim as you stated. Since that is from around 1260 to about 1360, that’s a 100 points up!
Looks like we are on our way to backtest the falling channel top around 1315 (if that breaks, then 1300). But, after such a strong down move like today, we could have a positive day tomorrow. The 60 minute chart still has plenty of room to go lower though, so I wouldn’t get too excited if I were a bull (which of course I’m not… LOL)
Haha,…it’s pretty quiet in here.
Since bullish patterns seem to always work out in this manipulated environment,… on the S&P 60 min chart, it looks like a nice cup and hande setting up. How do we measure the expected distance of that move? Is it bottom of cup to the rim?
Good Morning Bears 🙂
New post…
http://reddragonleo.com/2011/07/10/lindsey-williams-exposed-the-elites-plan-to-break-america/
The worst thing is, Martha Stewart was not even CHARGED with insider trading. What a perfect mark for an “example”. Everyone knew she was a hard core business woman, a lot of people called her a bitch, and fit the perfect profile for a setup. She was simply convicted for lying to the Feds. Stewart made the mistake of doing what members of the club do for a living…lie.