Bulls look very tired here. Short term charts are overbought and this falling channel of resistance is still holding them back. We could see another leg down? Maybe the bottom isn’t in yet?
We seem to still be in a falling channel. If the bulls don’t breakout soon there could be another leg down today? Not sure what’s going to happen here? The market is at a critical point and could go either way.
I think we’ll see that and more. Once the market breaks out of the triangle a squeeze up should happen. We could see the 132.50 FP tomorrow I believe. I got today wrong on thinking that it would gap up first, and then sell off, but that’s life. You just have too adjust.
Instead, we sold off first at the 1302 area looks like firm support right now. I can count a 5 wave pattern down easily now, plus we have a nice bottoming tail on the 15 minute chart and all longer time frames. We should go up for several days now.
This should be about it for the bears I’m afraid. Plus, I just now see a new FP of 131.50 spy. This bull flag is going to turn up very soon and a rally for 2-3 days is likely. Bears should lock in gains here. While we might not breakout of the triangle today, a gap up (and go) out of it tomorrow highly is likely I believe.
New FP… 130.67 spy! We are going down.
remember my call of a pin @ 131 spy for tomorrow
April is four. Today is one plus four, so NINE. 2(11) o 11. Two is known as another form of 11 for geomatricians and occultists.
How do you get 9/11/11 out of today?
Bulls look very tired here. Short term charts are overbought and this falling channel of resistance is still holding them back. We could see another leg down? Maybe the bottom isn’t in yet?
Today is 9/11/11 day, so something could still happen. Probably later tonight when all bears and bulls are asleep.
We seem to still be in a falling channel. If the bulls don’t breakout soon there could be another leg down today? Not sure what’s going to happen here? The market is at a critical point and could go either way.
I think we’ll see that and more. Once the market breaks out of the triangle a squeeze up should happen. We could see the 132.50 FP tomorrow I believe. I got today wrong on thinking that it would gap up first, and then sell off, but that’s life. You just have too adjust.
Instead, we sold off first at the 1302 area looks like firm support right now. I can count a 5 wave pattern down easily now, plus we have a nice bottoming tail on the 15 minute chart and all longer time frames. We should go up for several days now.
Thanks RDL. I would love to see 1315 in SPX 🙂
This should be about it for the bears I’m afraid. Plus, I just now see a new FP of 131.50 spy. This bull flag is going to turn up very soon and a rally for 2-3 days is likely. Bears should lock in gains here. While we might not breakout of the triangle today, a gap up (and go) out of it tomorrow highly is likely I believe.