LOL! Guess I was wrong,…it wasn’t too tired. Closed at the highs. If initial claims are back under 400K, I bet they’ll gap ‘er up over that falling trendline. It’s the gangsta way…
We are all used too the FOMC meeting causing the market to go up and close positive… then sell off the next day. What if the market sells off today after the minutes are released? It’s something we aren’t expecting, so maybe it’s time for a change?
The market is almost hitting the upper trendline on the SPY, QQQ, and IWM. I think it’s about topped for the day. It should roll over into the afternoon (assuming the gangsters don’t manipulate it, and actually let the charts work?)
Silver is up, which tells me that we are getting close to a bottom in the overall market. I still think we’ll sell off on Thursday, and probably put in a short term bottom.
i have short the IWM, signals at approx 83.4 for an overnight trade. didn’t quite make it there today. maybe next couple of days it will get there.
TGT is a really easy trade. the news goes hot to cold, and yet no matter what, the price stays in this channel.
http://zstock7.com/wp-content/uploads/2011/05/tgt-5-18.jpg
LOL! Guess I was wrong,…it wasn’t too tired. Closed at the highs. If initial claims are back under 400K, I bet they’ll gap ‘er up over that falling trendline. It’s the gangsta way…
We are all used too the FOMC meeting causing the market to go up and close positive… then sell off the next day. What if the market sells off today after the minutes are released? It’s something we aren’t expecting, so maybe it’s time for a change?
Mr. TopStep…
http://www.youtube.com/watch?v=rrW6XsFSuHc
Just waiting on the FOMC meetings around 2pm 9est)
Yes,…it looks tired. Recycle later with the Fed minutes.
SPY Resistance line: http://niftychartsandpatterns.blogspot.com/2011/05/spy-resistance-line.html
The market is almost hitting the upper trendline on the SPY, QQQ, and IWM. I think it’s about topped for the day. It should roll over into the afternoon (assuming the gangsters don’t manipulate it, and actually let the charts work?)
Silver is up, which tells me that we are getting close to a bottom in the overall market. I still think we’ll sell off on Thursday, and probably put in a short term bottom.
Refresh page for update…