A triangle is forming now, which could break either way… but my guess is that it breaks out to the upside as the 60, 30, and 15 minute charts are all looking like they want to move up from oversold conditions on the histograms bars. Sorry bears, but odds still favor the bulls right now. (Did I mention we have low volume again… yeah, it sucks how controlled this market really is!).
The short term charts are negative right now Dee, so I don’t think we will sell off into the close. In fact, they could rally up at the EOD after Bobblehead speaks.
I want to see the 60, 30, and 15 minute charts get overbought any the price level to hit (and slightly pierce) the double top level of 1344 spx… and then go short for a few days.
Since we are trading sideways and putting in a bear flag, you would normally expect to see it breakdown later today, but I doubt it. The volume is decent, but still light enough for them to rally up after the speech.
Plus, we are so close to a double top that I’d be shocked if the market doesn’t hit it. The Russell already has, and so has the Dow. And, since we are now out of the rising wedge (just slightly)… an afternoon rally would allow the spx and spy to backtest the broken trendline, and put in a double top or slightly higher high.
While we could sell off after the speech, I’m sitting on my hands until I see it happen. I still think a backtest will happen, allowing for a double top to occur.
We already know what is going to happen… remember what Lindsay Williams said. $150 – $200 we are just steadily creeping up there. What is your take on today? Resistance is holding. If we reverse how far do we fall? Apparently Bernake is talking this afternoon… market may just be waiting on what he has to say.
If this Gov’t gave a damn about how the oil scam is hurting this economy, they would only allow companies that gain delivery of oil via futures contracts to trade oil. It’s that simple. Banks should NOT be trading oil futures. Period. The oil scam will never let any other technology effect thier rip-off of the public, we all know that and you’re right Red, Double sickening! One day, they will regret doing this to America.
Apple in a Triangle: http://niftychartsandpatterns.blogspot.com/2011/04/aapl-in-triangle-pattern.html
Red, thought I would toss this to you.
it took 12 seconds to load the dragon page,
that said, everybody will load at different speeds.
Your web page heavy hitter items (in terms of time) are listed at the top.
http://tinypic.com/r/2cxdfet/7
Julian Assange has been busy bringing down Bank Of America:
http://www.youtube.com/watch?v=vNqd4hW98sQ&feature=player_embedded
A triangle is forming now, which could break either way… but my guess is that it breaks out to the upside as the 60, 30, and 15 minute charts are all looking like they want to move up from oversold conditions on the histograms bars. Sorry bears, but odds still favor the bulls right now. (Did I mention we have low volume again… yeah, it sucks how controlled this market really is!).
Some of the Fed’s documents are finally released (29,000 pages… LOL). Here’s Ron Paul’s take…
http://www.youtube.com/watch?feature=player_embedded&v=RPHWrddDLkc
The short term charts are negative right now Dee, so I don’t think we will sell off into the close. In fact, they could rally up at the EOD after Bobblehead speaks.
I want to see the 60, 30, and 15 minute charts get overbought any the price level to hit (and slightly pierce) the double top level of 1344 spx… and then go short for a few days.
Since we are trading sideways and putting in a bear flag, you would normally expect to see it breakdown later today, but I doubt it. The volume is decent, but still light enough for them to rally up after the speech.
Plus, we are so close to a double top that I’d be shocked if the market doesn’t hit it. The Russell already has, and so has the Dow. And, since we are now out of the rising wedge (just slightly)… an afternoon rally would allow the spx and spy to backtest the broken trendline, and put in a double top or slightly higher high.
While we could sell off after the speech, I’m sitting on my hands until I see it happen. I still think a backtest will happen, allowing for a double top to occur.
We already know what is going to happen… remember what Lindsay Williams said. $150 – $200 we are just steadily creeping up there. What is your take on today? Resistance is holding. If we reverse how far do we fall? Apparently Bernake is talking this afternoon… market may just be waiting on what he has to say.
If this Gov’t gave a damn about how the oil scam is hurting this economy, they would only allow companies that gain delivery of oil via futures contracts to trade oil. It’s that simple. Banks should NOT be trading oil futures. Period. The oil scam will never let any other technology effect thier rip-off of the public, we all know that and you’re right Red, Double sickening! One day, they will regret doing this to America.
Double Sickening when you know that we could be driving cars that run on water, free electric from magnets, or get 200 mpg+ on gasoline…
Sickening…