Only a big, bad event will affect this market at this point, after the strength today (lack of volume doesn’t matter – it never does). Too much momentum.
Yeah, but only one. Three thrust, distribution or double-top. If not down tomorrow, pretty hard, then it breaks the descending wedge and away it goes. Oil is really the only wild card now.
Trichet was obviously ordered by the Fed to make comments that would keep the dollar dump going…just at the right time (there’s no such thing as a coincidence).
November saw this scenario, and actually made 3 thrusts, and broke the top. Pretty sickening how they can just HFT their way out of any possible bad situation.
If it so much as hits the recent top, it’s going higher. If it’s not down tomorrow, it’s going higher. Only an event that causes an oil spike can keep it from trucking up to wherever they originally intended it to go, 1400-1500 SPX or so.
I’m watching oil now, that’s the only thing that will prevent a breakout.
The employment numbers won’t matter either way. Really low or really high, if oil doesn’t pop hard, then it’s going up tomorrow.
Well, that 135.14 spy FP is still out there. That sounds about the same level as 1350 spx or so… and it does make more sense to have a double top area before crashing, as opposed to a single topping day candle.
1350-1360 has been a long term target out there for a long time by some good tech’s–a gap tommorrow could really get close to that–xlf is the key–banks have not been leading this latest charge–if sp gets close to 1350-1360-and xlf can’t break thru 17.20 Might just be that iIT for now–fwiw
Only a big, bad event will affect this market at this point, after the strength today (lack of volume doesn’t matter – it never does). Too much momentum.
Yeah, but only one. Three thrust, distribution or double-top. If not down tomorrow, pretty hard, then it breaks the descending wedge and away it goes. Oil is really the only wild card now.
Trichet was obviously ordered by the Fed to make comments that would keep the dollar dump going…just at the right time (there’s no such thing as a coincidence).
November saw this scenario, and actually made 3 thrusts, and broke the top. Pretty sickening how they can just HFT their way out of any possible bad situation.
1344 first—1332 second–13?? could be the third shot–
A lot of times a intermidate top is put in with three thrusts- and the finale one has a throw over–then lob!!! Just a thought
If it so much as hits the recent top, it’s going higher. If it’s not down tomorrow, it’s going higher. Only an event that causes an oil spike can keep it from trucking up to wherever they originally intended it to go, 1400-1500 SPX or so.
I’m watching oil now, that’s the only thing that will prevent a breakout.
The employment numbers won’t matter either way. Really low or really high, if oil doesn’t pop hard, then it’s going up tomorrow.
Well, that 135.14 spy FP is still out there. That sounds about the same level as 1350 spx or so… and it does make more sense to have a double top area before crashing, as opposed to a single topping day candle.
1350-1360 has been a long term target out there for a long time by some good tech’s–a gap tommorrow could really get close to that–xlf is the key–banks have not been leading this latest charge–if sp gets close to 1350-1360-and xlf can’t break thru 17.20 Might just be that iIT for now–fwiw
Do you see new highs tomorrow or just a flat day? What do you think about Monday and next week?
Booking profits fellas. What a rally. Love the volatility…a traders dream..See ya all Monday…..
hehehe. it’s only a single SPY.
😉
I have now a OTM 133 PUT that’s down a benjaman.
does that help?