Yes, the 60, 30, and 15 are overbought, but not the daily. The daily is still in negative territory on the MACD’s around -10 to -15. The Full STO’s are around the 50 level and pointing up, and the Slow STO’s are around 20-25 and pointing up.
The weekly is oversold and looking like it wants to curl back up on the Full STO’s, but not oversold on the MACD’s… which supports the theory of a rally. I’m still looking for the market to hit the necktie of resistance around the 1310 area, but it doesn’t have too be straight up. We could sell off some before then, but with so many trapped bears on board, I’m not sure if they will allow it?
It depends on how the market interprets the vote I guess? I’m not sure right now? If we close around the high of the day, with very little selling in the last half hour, that would tell me that the insiders know the outcome of the vote and are positioned long in front of more rallying. If we sell off a little, then no one knows… and if we sell of a lot, then they are expecting a negative outcome. That’s about the best guessing I can do.
Just like Lindsey Williams says, watch for their buzz words. They are telling us what is going to happen. It’s just a function of when. If there is anyone who knows what is going to happen, it’s Georgie Soros…
It’s still a series of 1 and 2s until proven otherwise. Nasdaq finally tagged its 20 day average.
It looks like they POMO’d the bleep out of the euro at the open. It just skyrocketed from 8:30 central and on. Crude, silver and other commodities bottomed at that point but the raging stock market couldn’t prevent silver and gold from rolling over again and dropping to new lows during the day.
Tomorrow is 58 days from the 5-1 date or Wednesday if one wants to use the 5-2 high for the stock market. But the commodities got hammered starting on 5-1 and silver looks like its starting to freefall again. GLD finished beneath its lower BB today and $xeu (euro) starting to see its lower BB flare as the 20 day average begins to roll over.
Here’s a quickie video for you guys…
http://screencast.com/t/jrcNuOX3cOvS
Yes, the 60, 30, and 15 are overbought, but not the daily. The daily is still in negative territory on the MACD’s around -10 to -15. The Full STO’s are around the 50 level and pointing up, and the Slow STO’s are around 20-25 and pointing up.
The weekly is oversold and looking like it wants to curl back up on the Full STO’s, but not oversold on the MACD’s… which supports the theory of a rally. I’m still looking for the market to hit the necktie of resistance around the 1310 area, but it doesn’t have too be straight up. We could sell off some before then, but with so many trapped bears on board, I’m not sure if they will allow it?
It depends on how the market interprets the vote I guess? I’m not sure right now? If we close around the high of the day, with very little selling in the last half hour, that would tell me that the insiders know the outcome of the vote and are positioned long in front of more rallying. If we sell off a little, then no one knows… and if we sell of a lot, then they are expecting a negative outcome. That’s about the best guessing I can do.
Red,
Just like Lindsey Williams says, watch for their buzz words. They are telling us what is going to happen. It’s just a function of when. If there is anyone who knows what is going to happen, it’s Georgie Soros…
red, what is your read on Tomorrow’s Greek vote by looking at the chart?
I guess it will be more boring tomorrow?
Rollover here to set up the right shoulder? The 15-30-60 min charts are in overbought territory. What say you, Red?
It’s so boring when the bulls are back. I like bears much more… they always make it exciting! LOL
ES Resistance levels: http://niftychartsandpatterns.blogspot.com/2011/06/es-support-and-resistance-levels.html
Window dressing going well. Bullish bias next few days….
It’s still a series of 1 and 2s until proven otherwise. Nasdaq finally tagged its 20 day average.
It looks like they POMO’d the bleep out of the euro at the open. It just skyrocketed from 8:30 central and on. Crude, silver and other commodities bottomed at that point but the raging stock market couldn’t prevent silver and gold from rolling over again and dropping to new lows during the day.
Tomorrow is 58 days from the 5-1 date or Wednesday if one wants to use the 5-2 high for the stock market. But the commodities got hammered starting on 5-1 and silver looks like its starting to freefall again. GLD finished beneath its lower BB today and $xeu (euro) starting to see its lower BB flare as the 20 day average begins to roll over.