While it’s possible they go back down one more time and touch the 200dma at 1905.31 SPX on the daily chart and either pierce it to make a lower low to fill the ES Futures 1890 low from August I’m leaning toward the low being in now and a choppy rally up the rest of the day and into Monday.
The heaviest selling pressure is usually in the first one or two hours and since it’s 11am now I get the feeling it’s about dried up. The noon time period could allow the market to float up some and hold the current low. While everyone is looking for that prior SPX low of 1904.78 to be taken out I find it’s common to either fall short of a target or pierce through it.
This time I think we are going to fall short of this target. This opens the door for another move down within a week or two to finally break it. However, on the next move down it should go past it quite a bit as it will be the 3rd time down and a pierce only it’s likely to happen.
I’ll be looking for the next level of support down in the1800’s to be the target once it breaks it. For now though I’m short term bullish for about a week with next Monday likely being up the strongest.
Looks like we’re going to find out about the 1905 part of it real soon. And a week ago..I didn’t think ebola could be a long term negative economic factor. Now I’m thinking it’s quite possible it might. Bad shit there. Folks cancelling flights and cruises and other stuff all over the world.
Once we get a break of 1905 (where I think it will find a bounce within 10 points or so lower) I’d give us 95% odds of having a minimum of a 20% correction by March of 2015. A full out crash is still a maybe? Just don’t know about that.
The occultic film of the year Gone Girl has opened but really don’t have time to do a reveiw/analysis. The obvious GG in the title ala Great Gatsby for 77. David Fincher outdoing himself in this one. Even more grand ritual specific occultic than the Social Network.
The number 11 and especially 22 are highlighted in this movie. Need to see it again and take notes.
I never really focused on 22 until recently but it is 22 years from the Bradley date and Moneyball took place in 2002 with references to it reverberating around this year’s MLB season since the Moneyball A’s had the best record in baseball for quite a bit of the season before suffering an epic meltdown aking to their Moneyball winning streak in 2002. The A’s were chased by their division rival Angels who eventually surpassed them to finish with the best record in baseball. They were the eventual world champions in 2002. But they were eliminated this week in the first round of the playoffs.
Time to go long now if Goldman Sucks is telling everyone to sell… http://www.streetinsider.com/Analyst+Comments/Goldman+Sachs+Sees+15%25-20%25+Downside+Potential+in+Semis+%28ADI%29+AVGO%29+%28MXIM%29+%28NXPI%29+%28ONNN%29+%28TXN%29/9902945.html
While it’s possible they go back down one more time and touch the 200dma at 1905.31 SPX on the daily chart and either pierce it to make a lower low to fill the ES Futures 1890 low from August I’m leaning toward the low being in now and a choppy rally up the rest of the day and into Monday.
The heaviest selling pressure is usually in the first one or two hours and since it’s 11am now I get the feeling it’s about dried up. The noon time period could allow the market to float up some and hold the current low. While everyone is looking for that prior SPX low of 1904.78 to be taken out I find it’s common to either fall short of a target or pierce through it.
This time I think we are going to fall short of this target. This opens the door for another move down within a week or two to finally break it. However, on the next move down it should go past it quite a bit as it will be the 3rd time down and a pierce only it’s likely to happen.
I’ll be looking for the next level of support down in the1800’s to be the target once it breaks it. For now though I’m short term bullish for about a week with next Monday likely being up the strongest.
The last 23 of 30 Monday’s the week of option expiration week have be up so I do think we’ll rally after a flush out to 1900 area (probably tomorrow).
geno0010 • 10 hours ago
I’m predicting a flat market Monday
Truth_Doctors geno0010 • 10 hours ago
You might want to wait for Greed is Good to weigh in on that.
🙂
Yep… thank you Bill Gates for patenting Ebola and spreading to everyone to kill off some the population of the sheep.
Looks like we’re going to find out about the 1905 part of it real soon. And a week ago..I didn’t think ebola could be a long term negative economic factor. Now I’m thinking it’s quite possible it might. Bad shit there. Folks cancelling flights and cruises and other stuff all over the world.
Once we get a break of 1905 (where I think it will find a bounce within 10 points or so lower) I’d give us 95% odds of having a minimum of a 20% correction by March of 2015. A full out crash is still a maybe? Just don’t know about that.
The occultic film of the year Gone Girl has opened but really don’t have time to do a reveiw/analysis. The obvious GG in the title ala Great Gatsby for 77. David Fincher outdoing himself in this one. Even more grand ritual specific occultic than the Social Network.
The number 11 and especially 22 are highlighted in this movie. Need to see it again and take notes.
I never really focused on 22 until recently but it is 22 years from the Bradley date and Moneyball took place in 2002 with references to it reverberating around this year’s MLB season since the Moneyball A’s had the best record in baseball for quite a bit of the season before suffering an epic meltdown aking to their Moneyball winning streak in 2002. The A’s were chased by their division rival Angels who eventually surpassed them to finish with the best record in baseball. They were the eventual world champions in 2002. But they were eliminated this week in the first round of the playoffs.
Well I guess he word “WOW’ for what happened today would be an understatement, Rock, N’ Roll. Re-test of SPX 1905 ,here we come.
Winning doctor_jr • 3 hours ago
The opening gap lower in a Bull Market is some of the easiest ES/SPY money you can make.
Those gaps MUST be bought.
****************************************************************************************Winning • 4 minutes ago
Great Opportunity to Do Some “Nibbling” and Stock Buying Here!