Yep…that’s the gap up/down hard game they play with resistance and support. They want retail to chase and then squeeze ’em out. Otherwise just place your bets like a casino for the next days open… Dirty game when you aren’t insider trading like the illuminati.
We’re bouncing now as expected… let’s see if they go back down again? If they put in a higher low then I think the bottom is in for the day. If it’s a lower low, then we should continue down all day to probably about the 1290 spx area.
Well, once again the gangsters take the market down to oversold levels when the small retail trader can’t get in. Now they will open it this morning, bounce early on, get the sheep short, sell off a little more and likely put in a bottom today.
Then later in the afternoon or early tomorrow we should see them squeeze the new retail shorts and run this market back up to backtest the broken support. That should take us into Wednesday I suspect.
After that we’ll have too re-look at the charts. The move down today could get the daily oversold enough to cause a rally into early June. Or, it could set the stage for another large wave down on Thursday and Friday? Too hard to say right now. But one thing seems clear… the retail bears are likely to get trapped again. Gangsters!
The XLF is very telling…
Yep…that’s the gap up/down hard game they play with resistance and support. They want retail to chase and then squeeze ’em out. Otherwise just place your bets like a casino for the next days open… Dirty game when you aren’t insider trading like the illuminati.
you have been calling the market movement very well. Do not worry, some day, it will be noisy at this place.
Thanks… I was beginning to get lonely talking to myself.
Thanks, great comments
Here’s a short video update gang…
http://screencast.com/t/QdpED94iFAW
(If anyone is still around?)
ES On the cloud: http://niftychartsandpatterns.blogspot.com/2011/05/es-on-cloud.html
We’re bouncing now as expected… let’s see if they go back down again? If they put in a higher low then I think the bottom is in for the day. If it’s a lower low, then we should continue down all day to probably about the 1290 spx area.
Well, once again the gangsters take the market down to oversold levels when the small retail trader can’t get in. Now they will open it this morning, bounce early on, get the sheep short, sell off a little more and likely put in a bottom today.
Then later in the afternoon or early tomorrow we should see them squeeze the new retail shorts and run this market back up to backtest the broken support. That should take us into Wednesday I suspect.
After that we’ll have too re-look at the charts. The move down today could get the daily oversold enough to cause a rally into early June. Or, it could set the stage for another large wave down on Thursday and Friday? Too hard to say right now. But one thing seems clear… the retail bears are likely to get trapped again. Gangsters!
Looking at that chart the selling ends today GG… am I reading it right?