Considering that the move down was so strong, and the light volume today, I think we are going to have an ABC move up… which would carry us higher into Friday. Lot’s of bears now trapped, and I don’t think they are abandoning their positions just yet. Lot’s of bulls still buying the dip. Let’s see how high they take it? I don’t see them getting past 1320… if they make it that high?
Hi Red, Are we resetting yet? Whats your thoughts on Friday and monday back down? Looks like 1294 on SPX has become resistance. do you think it will hold?
Dang, they have the Armstrong number hidden in between also. (The Thrice number rearranged)
Tomorrow is 6-9, which seems to be the insiders favored number for the year. How 2011 has a connection to 69, I don’t know although it is 115 years ago to 1896, the birth year for the Dow Jones Industrial Average.
That image probably won’t make it to the morning and they make sure you can’t click on it to get a link or an address.
There you go: http://www.cbssports.com It’s the 111, Derek Rose 89 commercial, IKEA special number. The first goal of the Champions League final formed this number. They were flashing this number all over the place during Game 1 of the Stanley Cup final.
You could be right? At this point I’m not sure when we will get a bounce? It’s still bearish, and the bulls just aren’t stepping up to the plate right now.
Maybe. But if you look how jacked up the margin-indebted are, any bounce will be a fantastic, easy selling opportunity. That is, unless QE3 is leaked or some other “cheat code” pumps the market.
SPY Chart: http://niftychartsandpatterns.blogspot.com/2011/06/spy-resistance-level.html
Considering that the move down was so strong, and the light volume today, I think we are going to have an ABC move up… which would carry us higher into Friday. Lot’s of bears now trapped, and I don’t think they are abandoning their positions just yet. Lot’s of bulls still buying the dip. Let’s see how high they take it? I don’t see them getting past 1320… if they make it that high?
Hi Red, Are we resetting yet? Whats your thoughts on Friday and monday back down? Looks like 1294 on SPX has become resistance. do you think it will hold?
ES Chart: http://niftychartsandpatterns.blogspot.com/2011/06/es-cloud-continue-to-favor-bears.html
Dang, they have the Armstrong number hidden in between also. (The Thrice number rearranged)
Tomorrow is 6-9, which seems to be the insiders favored number for the year. How 2011 has a connection to 69, I don’t know although it is 115 years ago to 1896, the birth year for the Dow Jones Industrial Average.
That image probably won’t make it to the morning and they make sure you can’t click on it to get a link or an address.
There you go: http://www.cbssports.com It’s the 111, Derek Rose 89 commercial, IKEA special number. The first goal of the Champions League final formed this number. They were flashing this number all over the place during Game 1 of the Stanley Cup final.
The big boys sold in March, when big banks and others sold their big s&ps, just a little sloshy trading since then……
Yes, the first attempt at a decent bounce will certainly fail as trapped bulls sell on it, trying to get out.
You could be right? At this point I’m not sure when we will get a bounce? It’s still bearish, and the bulls just aren’t stepping up to the plate right now.
Maybe. But if you look how jacked up the margin-indebted are, any bounce will be a fantastic, easy selling opportunity. That is, unless QE3 is leaked or some other “cheat code” pumps the market.
http://dshort.com/articles/2011/NYSE-margin-debt-and-the-market.html