at what point is the market FORCED to price in oil of WTI at 111$ (and counting) and brent north of 121$??? we started to see divergence happen at this level in 08, when the market began to sell off as oil continued to move higher….. we are at 111$/brl people!! what say you all//
Hmmm… the failure to gap over the resistance area produced this nice sell off (actually, it did go over by just .08 cents with a high of 1339.46 spx). Now, what should we make of this?
Going back up as the 60 minute chart wants too, will make about 6 hits of that resistance level (counting from the April 1st hit). Is the 7th time a charm? Most of the time I’ve noticed that when the market wants to go past a resistance or support level, it will gap it!
Well, it did indeed gap it this morning… but it failed to hold? This leaves the possibility for a sell off later today after the 60 and 30 minute charts find their peak and rollover.
However, if the 5 and 15 minute charts work off their overbought conditions, they could help push the market through the resistance zone as well? It’s a tough call right now and the charts still have us range bound.
Since we just filled the gap, let’s see what the rest of the day brings…
We have a nice bottoming tail on the 5 minute chart. This down move might not get the gap filled? But, it should have cleared out all the bulls… the bears are next I believe.
correct me if i am mistaken, but monday is Q1 earnings kick off (april 11). could this be the ultimate ‘sell the earnings’? let us see the extent of margin compression from massively higher inputs that has been stuffed in the pipeline for 2 qtrs now ~ i think we should keep an eye on this earnings period….
Yeah, that sounds more like it. Head and shoulders patterns are too easy for the common retail trader to see. They have to fake ’em out and then squeeze the crap out of them. If oil would ever come down, this market would scream up. Maybe they want to wait for announcement of NO QE3 in conjunction with high oil coming down to balance tha market. I dunno…
The 60 and 30 minute charts are pointing up strong now. It’s not likely that this resistance area will hold the bulls back today. I expect a breakout to happen. It looks like we might not have a right shoulder at this point, and we are just going to continue up the to FP level over the coming week. Gangsters!
Yes, I’m sure they read my site and listen to the video’s. I’m still in cash right now, so they didn’t rob me on this squeeze… LOL! I know they are going to the 138.86 spy FP, which is why I’ve been extremely cautious on shorting right now.
Hey Red once you start saying the markets will only go up then you probably get a massive selloff. They are monitoring sites for bears and trying to bring them out of hibernation. They will short squeeze you until you say buy buy buy. You will have to have your secret short positions but don’t tell no one. They don’t want anyone shorts making money because you can make a lot of money when they do have a massive selloff. Back in 2008 I knew a crash was coming and some secret government was attacking my family trying to create confusion in our life because we had a opportunity to make big money. We end up moving to Africa Sept 2008 and traded from Africa, but the secret government was there making sure they can keep control over our finances by putting pressure on us there. The game is rig and any new money who are aware of whats going on and don’t fear you just have to be resilient and keep pushing forward. Buy Silver and short secretly
next item,
at what point is the market FORCED to price in oil of WTI at 111$ (and counting) and brent north of 121$??? we started to see divergence happen at this level in 08, when the market began to sell off as oil continued to move higher….. we are at 111$/brl people!! what say you all//
QQQ Hour chart: http://niftychartsandpatterns.blogspot.com/2011/04/qqq-hour-chart-in-channel.html
Hmmm… the failure to gap over the resistance area produced this nice sell off (actually, it did go over by just .08 cents with a high of 1339.46 spx). Now, what should we make of this?
Going back up as the 60 minute chart wants too, will make about 6 hits of that resistance level (counting from the April 1st hit). Is the 7th time a charm? Most of the time I’ve noticed that when the market wants to go past a resistance or support level, it will gap it!
Well, it did indeed gap it this morning… but it failed to hold? This leaves the possibility for a sell off later today after the 60 and 30 minute charts find their peak and rollover.
However, if the 5 and 15 minute charts work off their overbought conditions, they could help push the market through the resistance zone as well? It’s a tough call right now and the charts still have us range bound.
Since we just filled the gap, let’s see what the rest of the day brings…
Yes, it’s hard too predict how the earnings will be but maybe will get some bear food out of it?
We have a nice bottoming tail on the 5 minute chart. This down move might not get the gap filled? But, it should have cleared out all the bulls… the bears are next I believe.
red,
correct me if i am mistaken, but monday is Q1 earnings kick off (april 11). could this be the ultimate ‘sell the earnings’? let us see the extent of margin compression from massively higher inputs that has been stuffed in the pipeline for 2 qtrs now ~ i think we should keep an eye on this earnings period….
Yeah, that sounds more like it. Head and shoulders patterns are too easy for the common retail trader to see. They have to fake ’em out and then squeeze the crap out of them. If oil would ever come down, this market would scream up. Maybe they want to wait for announcement of NO QE3 in conjunction with high oil coming down to balance tha market. I dunno…
Gang,
The 60 and 30 minute charts are pointing up strong now. It’s not likely that this resistance area will hold the bulls back today. I expect a breakout to happen. It looks like we might not have a right shoulder at this point, and we are just going to continue up the to FP level over the coming week. Gangsters!
Yes, I’m sure they read my site and listen to the video’s. I’m still in cash right now, so they didn’t rob me on this squeeze… LOL! I know they are going to the 138.86 spy FP, which is why I’ve been extremely cautious on shorting right now.
Hey Red once you start saying the markets will only go up then you probably get a massive selloff. They are monitoring sites for bears and trying to bring them out of hibernation. They will short squeeze you until you say buy buy buy. You will have to have your secret short positions but don’t tell no one. They don’t want anyone shorts making money because you can make a lot of money when they do have a massive selloff. Back in 2008 I knew a crash was coming and some secret government was attacking my family trying to create confusion in our life because we had a opportunity to make big money. We end up moving to Africa Sept 2008 and traded from Africa, but the secret government was there making sure they can keep control over our finances by putting pressure on us there. The game is rig and any new money who are aware of whats going on and don’t fear you just have to be resilient and keep pushing forward. Buy Silver and short secretly