Soros says he is dumping gold, either a headfake or he has insider info on a Greek default. Keep in mind he has a long history of illegal activities in various markets around the world, and as a result has paid millions in fines. Sounds like a dollar rally soon.
I think we will rally into tomorrow too ACP. Then we will see how the charts look. We could get overbought in the morning session of Friday and sell off into the close? I think I’m a day off now on the rally.
I think you are right on your thinking Shark. Looks like we did the opposite of what I was expecting. We sold off first at the open to flush everyone out, and now we should do the ABC move up I’ve been expecting. But, it should go much higher then what I stated in the video.
We should get a Fib. level retracement. I don’t know if it will be 38.2, 50, or 61.8, but a bounce is coming. The question still remains… will this just be a wave 2 up with a wave 3 down to follow, or will it just resume the up trend toward the SPY FP of 138.86? Next week we’ll know I guess?
Vix may do a kiss of death on the daily 50day moving average line. In regards to Elliott Waves and the timing of the correction, im still thinking its early June but hell… if we dont get a rise soon..that may change lol. The 15min /YM chart looks like we are finishing a 5th wave down and may do a strong ABC up for the remainder of the day. Not sure about you guys but it looks like there are three or four fake prints over the last two days to the upside on spy. Silver has pulled back to its daily 50MA and lower BB and crude oil pulled back to its daily 50ma as well. Thinking that we may head up from here in precious metals, oil, and equities. Also, the rising unemployment and poor job numbers means that the feds can justify MORE easing..so i think the worse the report is tomorrow, the more the market might actually go UP and not down…ironically.
I absolutely adore reading your blog posts, the variety of writing is smashing.This blog as usual was educational, I have had to bookmark your site and subscribe to your feed in ifeed. Your theme looks lovely.Thanks for sharing.
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what happen to Benny ? where is his helicopter with cash ?
Soros says he is dumping gold, either a headfake or he has insider info on a Greek default. Keep in mind he has a long history of illegal activities in various markets around the world, and as a result has paid millions in fines. Sounds like a dollar rally soon.
I think we will rally into tomorrow too ACP. Then we will see how the charts look. We could get overbought in the morning session of Friday and sell off into the close? I think I’m a day off now on the rally.
An artificial disaster wouldn’t be out of the question…the timing is right.
Big retracement below the breakout, the next rally will most likely be the last……
I think you are right on your thinking Shark. Looks like we did the opposite of what I was expecting. We sold off first at the open to flush everyone out, and now we should do the ABC move up I’ve been expecting. But, it should go much higher then what I stated in the video.
We should get a Fib. level retracement. I don’t know if it will be 38.2, 50, or 61.8, but a bounce is coming. The question still remains… will this just be a wave 2 up with a wave 3 down to follow, or will it just resume the up trend toward the SPY FP of 138.86? Next week we’ll know I guess?
ES Fibonacci levels: http://niftychartsandpatterns.blogspot.com/2011/05/es-fibonacci-levels.html
Vix may do a kiss of death on the daily 50day moving average line. In regards to Elliott Waves and the timing of the correction, im still thinking its early June but hell… if we dont get a rise soon..that may change lol. The 15min /YM chart looks like we are finishing a 5th wave down and may do a strong ABC up for the remainder of the day. Not sure about you guys but it looks like there are three or four fake prints over the last two days to the upside on spy. Silver has pulled back to its daily 50MA and lower BB and crude oil pulled back to its daily 50ma as well. Thinking that we may head up from here in precious metals, oil, and equities. Also, the rising unemployment and poor job numbers means that the feds can justify MORE easing..so i think the worse the report is tomorrow, the more the market might actually go UP and not down…ironically.
ES Hour chart: http://niftychartsandpatterns.blogspot.com/2011/05/s-500-futures-before-opening-bell_05.html
I absolutely adore reading your blog posts, the variety of writing is smashing.This blog as usual was educational, I have had to bookmark your site and subscribe to your feed in ifeed. Your theme looks lovely.Thanks for sharing.
regards:
Stock Tips