I wouldn’t doubt that over the course of the next two days, they fill the gap made on the job’s report. That might be the overall target by Wednesday’s open or so. I’d be looking for some kind of an exhaustion gap up.
The ultimate target for this sell off could be the 54.05 QQQ print we got awhile back that never filled.
Yes, I agree. I thought we might go up today toward about 1320, but I now believe that will never happen. The 1302 and 1309 area’s should stop any advance.
Looks like a signal that tomorrow the market will rally some. I don’t think it’s going up very far though as I believe Geccko is right on his call that the insiders are likely the one’s buying the puts.
Print Watch has registered a new print. In terms of the value, it is a major resistance level going back a few weeks, but also we have an IYR print much higher, so I suspect this could be a simple buy signal and tomorrow could trend higher.
Breadth is pretty negative so I would expect the market to close on the lows. McClellan Oscillator isn’t even oversold yet. I expect a pretty big down day within the next two days. All of the indices are below their lower Bollinger Bands except the Nasdaq. I am looking for a slight piercing of the March lows and then a large snapback rally. McClellan Summation index should breakout of the low end of its range for the past year and either it creates a one day bloodbath or it keeps racing to the “crash” zone.
Put call ratio has been enormous since Thursday and would have produced a 300pt upday by now during the golden days of this “bull market” but it looks like it was smart money buying the puts since I see very little bearish exuberance over at the data mining sites. In fact, I saw a lot of bottom calling.
I wouldn’t doubt that over the course of the next two days, they fill the gap made on the job’s report. That might be the overall target by Wednesday’s open or so. I’d be looking for some kind of an exhaustion gap up.
The ultimate target for this sell off could be the 54.05 QQQ print we got awhile back that never filled.
Yes, I agree. I thought we might go up today toward about 1320, but I now believe that will never happen. The 1302 and 1309 area’s should stop any advance.
I am not looking for a huge rally yet but some kind of retracement at least to the IYR print! At that point I’d be looking to short.
I think we will see it start crashing this Friday Geccko, and Monday should be a blood bath… especially if they stage something on 06-11-11.
Looks like a signal that tomorrow the market will rally some. I don’t think it’s going up very far though as I believe Geccko is right on his call that the insiders are likely the one’s buying the puts.
Print Watch has registered a new print. In terms of the value, it is a major resistance level going back a few weeks, but also we have an IYR print much higher, so I suspect this could be a simple buy signal and tomorrow could trend higher.
http://2.bp.blogspot.com/-mSYLRsHiKKM/Te0n62KXFWI/AAAAAAAAACM/bVeZ5bVPFsY/s1600/sc.png
Breadth is pretty negative so I would expect the market to close on the lows. McClellan Oscillator isn’t even oversold yet. I expect a pretty big down day within the next two days. All of the indices are below their lower Bollinger Bands except the Nasdaq. I am looking for a slight piercing of the March lows and then a large snapback rally. McClellan Summation index should breakout of the low end of its range for the past year and either it creates a one day bloodbath or it keeps racing to the “crash” zone.
Put call ratio has been enormous since Thursday and would have produced a 300pt upday by now during the golden days of this “bull market” but it looks like it was smart money buying the puts since I see very little bearish exuberance over at the data mining sites. In fact, I saw a lot of bottom calling.
thank u sir!
Sweet Justice is served on the corrupt banks! I’m loving it!
http://www.digtriad.com/news/watercooler/article/178031/176/Florida-Homeowner-Forecloses-On-Bank-Of-America
SPY Update: http://niftychartsandpatterns.blogspot.com/2011/06/spy-trend-update.html