Can you do me a long term chart of silver? I think it bottomed yesterday from hitting the rising trendline on the daily, with the line touching the August 24th, 2010 low and the January 28, 2011 low. Could be a great long for the next week or more.
I’m out of my shorts gang. The SPY has low volume with this sell off, and is resting on the long term rising trendline on the daily chart. A break of it and the bears will run with the ball hard.
But as long as it holds, the bulls can rally this up next week and resume the up trend. Then I would expect a run for the 138.86 SPY FP to occur. I think we have just about bottomed for today… and possibly this sell off too?
Yeah,…CNBS is too early with all the “we’re buying the dollar” trade and the”commodities are about to REALLY crash” scenerio. CNBS isn’t helping any retail traders and I get a little worried when they are ahead of the common sense move…
I agree with the daily triangle pattern…im betting we breakout higher. We have reached resistance on the vix at 17.5 and should head higher until early June. Wouldnt be surprised to see the market try its damnest to reach positive territory from here.
Red, we need a 4-5X high volume breakdown day to change this uptrend. So far today the volume isn’t impressing me. I still think we see 1400+ before the rollover unless we get a day like I previousely mentioned. GL
Hey San… are you out there?
Can you do me a long term chart of silver? I think it bottomed yesterday from hitting the rising trendline on the daily, with the line touching the August 24th, 2010 low and the January 28, 2011 low. Could be a great long for the next week or more.
I’m out of my shorts gang. The SPY has low volume with this sell off, and is resting on the long term rising trendline on the daily chart. A break of it and the bears will run with the ball hard.
But as long as it holds, the bulls can rally this up next week and resume the up trend. Then I would expect a run for the 138.86 SPY FP to occur. I think we have just about bottomed for today… and possibly this sell off too?
Yeah,…CNBS is too early with all the “we’re buying the dollar” trade and the”commodities are about to REALLY crash” scenerio. CNBS isn’t helping any retail traders and I get a little worried when they are ahead of the common sense move…
I meant to say we should head higher on the DOW till early june. The triangle breakout should be May 16th/17th.
I agree with the daily triangle pattern…im betting we breakout higher. We have reached resistance on the vix at 17.5 and should head higher until early June. Wouldnt be surprised to see the market try its damnest to reach positive territory from here.
Yes… volume is weak, and we are still in the triangle pattern. If we break this level, then we should drop hard.
Red, we need a 4-5X high volume breakdown day to change this uptrend. So far today the volume isn’t impressing me. I still think we see 1400+ before the rollover unless we get a day like I previousely mentioned. GL
Tanking Baby! Yeah! Crash… Please! LOL
Smart move BK… I think we will tank today! Wahoo!
anyone see CA ? lol… i shorted it yesterday… before close… what a..move baby.