Red, Shankys blog posted last november that when you saw the dollar and the S&P 500 go down at the same time, it would be the beginning of THE END.
Whats your thoughts seeing that its happeming as we speak?
That’s a pretty decent move down. However, it doesn’t mean we won’t bounce first. The print will likely be hit, but it could be tomorrow, Friday or even into the close today. No way of knowing.
I’m just sticking with the charts for now, and they say a bounce first… then lower. So, I think today will end flat to slightly up and then a larger up day tomorrow. That leaves Friday for the FP to be hit… or Monday?
FP @ (10:39) on QQQQ of 55.80 I got a screen shot for those of you who didn’t see it will send to Red and he can post. It is still on my intraday chart but is gone from monitor!
Here’s a “must read” that basically is saying the market will get an extra boost in free money every Thursday until the program expires in April. This would confirm the current charts indicating a nice relief rally/bear squeeze tomorrow, Thursday the 24th.
At the rate we are going, the short term charts will be overbought soon. That 60 and 30 minute charts are moving up quickly on their histogram bars and MACD’s, yet the market isn’t moving up with it. Very Bearish I believe. We could actually have another leg down today.
Red, Shankys blog posted last november that when you saw the dollar and the S&P 500 go down at the same time, it would be the beginning of THE END.
Whats your thoughts seeing that its happeming as we speak?
SPY Chart: http://niftychartsandpatterns.blogspot.com/2011/02/spy-four-hour-chart-analysis.html
That’s a pretty decent move down. However, it doesn’t mean we won’t bounce first. The print will likely be hit, but it could be tomorrow, Friday or even into the close today. No way of knowing.
I’m just sticking with the charts for now, and they say a bounce first… then lower. So, I think today will end flat to slightly up and then a larger up day tomorrow. That leaves Friday for the FP to be hit… or Monday?
I was getting ready to sell my short on the Q’s until I saw this… what say ye? Downside prints not real?
FP @ (10:39) on QQQQ of 55.80 I got a screen shot for those of you who didn’t see it will send to Red and he can post. It is still on my intraday chart but is gone from monitor!
Here’s a “must read” that basically is saying the market will get an extra boost in free money every Thursday until the program expires in April. This would confirm the current charts indicating a nice relief rally/bear squeeze tomorrow, Thursday the 24th.
http://www.zerohedge.com/article/here-comes-another-25-billion-excess-weekly-liquidity-ramp-stocks
Sorry, not the MACD’s as they are still pointing down. Only the histogram bars are moving up.
At the rate we are going, the short term charts will be overbought soon. That 60 and 30 minute charts are moving up quickly on their histogram bars and MACD’s, yet the market isn’t moving up with it. Very Bearish I believe. We could actually have another leg down today.
There was a recommendation to buy PXI at a pullback to around 38 what do you
think of that?
I’m out of all positions as I don’t know what to expect? We could tank more or have a rip roaring relief rally. I don’t want caught in the middle.