ES Descending Triangle: http://niftychartsandpatterns.blogspot.com/2011/05/es-descending-triangle-formation.htmlhttp://niftychartsandpatterns.blogspot.com/2011/05/es-descending-triangle-formation.html
Looks like we got some early morning weakness. I’m not sure how this will play out, but I’m still thinking that the best shorting opportunity will be Wednesday after Bernanke speaks (or at the end of the day?)
Yahoo falls to the support level: http://niftychartsandpatterns.blogspot.com/2011/05/yahoo-falls-to-support-level.htmlhttp://niftychartsandpatterns.blogspot.com/2011/05/yahoo-falls-to-support-level.html
So, they’re opened the LA spillway to keep the flooding from going overboard. It would be quite a devious plan if they decided to cause a huge earthquake now, which would damage the local nuke plants and allow the floodwaters to carry any escaped nuclear material all over and deep into the ground.
I was hoping it would rally this week. There may be a chance next week, but if it bottoms on Monday and then goes sideways for a while, might be bad news for bears. If it rallies hard next week, that would be a good thing. The timing doesn’t seem right for a top. Not ruling anything out, but watching closely…
Silver has finished its daily ABC corrective wave down. ALso, on the weekly you can draw a trendline at the bottom of both pullbacks since the breakout and the downside objective has been reached and retested. I bought more silver bullion today. Goodluck guys.
Here is a chart of /si that i posted last weekend, trendline still holds. http://sharkmarketanalysis.blogspot.com/2011/05/silver-lining.html
ES Descending Triangle: http://niftychartsandpatterns.blogspot.com/2011/05/es-descending-triangle-formation.htmlhttp://niftychartsandpatterns.blogspot.com/2011/05/es-descending-triangle-formation.html
Good morning gang…
Looks like we got some early morning weakness. I’m not sure how this will play out, but I’m still thinking that the best shorting opportunity will be Wednesday after Bernanke speaks (or at the end of the day?)
Yes, I think the XLF has already broken the long term trendline. Things are looking ugly for the bulls right now. 🙂
Nice HS formed on 30min for S&P. We break 1335 and we get some heavy selling imo. Banks are in big trouble….:)
New post…
http://reddragonleo.com/2011/05/15/bearish-stock-market-ahead-but-some-bullishness-left/
Yahoo falls to the support level: http://niftychartsandpatterns.blogspot.com/2011/05/yahoo-falls-to-support-level.htmlhttp://niftychartsandpatterns.blogspot.com/2011/05/yahoo-falls-to-support-level.html
MSFT Weekend update: http://niftychartsandpatterns.blogspot.com/2011/05/msft-weekend-update.htmlhttp://niftychartsandpatterns.blogspot.com/2011/05/msft-weekend-update.html
So, they’re opened the LA spillway to keep the flooding from going overboard. It would be quite a devious plan if they decided to cause a huge earthquake now, which would damage the local nuke plants and allow the floodwaters to carry any escaped nuclear material all over and deep into the ground.
I was hoping it would rally this week. There may be a chance next week, but if it bottoms on Monday and then goes sideways for a while, might be bad news for bears. If it rallies hard next week, that would be a good thing. The timing doesn’t seem right for a top. Not ruling anything out, but watching closely…
Silver has finished its daily ABC corrective wave down. ALso, on the weekly you can draw a trendline at the bottom of both pullbacks since the breakout and the downside objective has been reached and retested. I bought more silver bullion today. Goodluck guys.
Here is a chart of /si that i posted last weekend, trendline still holds.
http://sharkmarketanalysis.blogspot.com/2011/05/silver-lining.html