When I say “pause”, I mean that it could be slightly up or slight down, but no big move either way. So, yes… I agree that the rally will continue, but tomorrow should not be another huge up day like today.
This reminds me of the May 31st action. The hockey stick pattern seen before collapse. A certain little fractal is now being followed on a day by day basis now. Daily RSIs and $nymo have enough firepower for a big move now.
If it’s just a pause day or slight down day tomorrow then something else is going on. But crude oil, gold and silver hardly budged today. Most of the indices got to their 20 day averages today and the $vix interestingly found support at its 20 day average.
There is a potentially destabilizing parliamentary vote in Greece tonight and yet the markets rallied into it. What is there left to celebrate?
Junes are seasonally down into the end of the month particularly in years that end in 1.
It would be fitting to see the high before collapse on the summer solstice during the triple eclipse period.
Just realized 23–8—transcribes to 5 8 and we’re 23years 8 months from a certain stock market episode. The 237 combo was getting my attention and couldn’t quite grasp the significance of 238 until now.
Well gang… we should see a “pause” day tomorrow as the short term charts are overbought and need to be reset. It’s possible that we sell off some to make some type of “B wave” down, which would also put in a right shoulder on an “inverse head and shoulder” pattern that looks to be forming now.
However, after any dip we get, I do expect it to rally back up more later in the week. I’m still not sure if it will stop around 1310 or continue higher to about 1350, but my gut tells me the latter. They need to rally higher if they want all the bears squeezed out before the next move down, and I just don’t think the bears will get off the ride at 1310.
When I say “pause”, I mean that it could be slightly up or slight down, but no big move either way. So, yes… I agree that the rally will continue, but tomorrow should not be another huge up day like today.
Pause Day, don’t think so, rally to continue…:)
This reminds me of the May 31st action. The hockey stick pattern seen before collapse. A certain little fractal is now being followed on a day by day basis now. Daily RSIs and $nymo have enough firepower for a big move now.
If it’s just a pause day or slight down day tomorrow then something else is going on. But crude oil, gold and silver hardly budged today. Most of the indices got to their 20 day averages today and the $vix interestingly found support at its 20 day average.
There is a potentially destabilizing parliamentary vote in Greece tonight and yet the markets rallied into it. What is there left to celebrate?
Junes are seasonally down into the end of the month particularly in years that end in 1.
It would be fitting to see the high before collapse on the summer solstice during the triple eclipse period.
Just realized 23–8—transcribes to 5 8 and we’re 23years 8 months from a certain stock market episode. The 237 combo was getting my attention and couldn’t quite grasp the significance of 238 until now.
i think its safe to buy the stocks dips and double bottoms again… that would take the spx above 1310 eventually
APA FP
http://zstock7.com/wp-content/uploads/2010/09/APA-6-21.jpg
Well gang… we should see a “pause” day tomorrow as the short term charts are overbought and need to be reset. It’s possible that we sell off some to make some type of “B wave” down, which would also put in a right shoulder on an “inverse head and shoulder” pattern that looks to be forming now.
However, after any dip we get, I do expect it to rally back up more later in the week. I’m still not sure if it will stop around 1310 or continue higher to about 1350, but my gut tells me the latter. They need to rally higher if they want all the bears squeezed out before the next move down, and I just don’t think the bears will get off the ride at 1310.
SLV chart: http://niftychartsandpatterns.blogspot.com/2011/06/slv-moving-towards-resistance-line.html
Typical bear squeeze I believe. There must have been more shorts in the Nasdaq then the rest of the market I’d say.
Wow, I have never seen the Nasdaq so obviously manipulated. Are the pumpers trying to advertise the fact that they are manipulating it?
SPY Resistance line: http://niftychartsandpatterns.blogspot.com/2011/06/spy-resistance-line.html