Well, I’m off by a day as usual. The 60 and 30 minute charts are still in negative territory on the histogram bars, but they are inching up close to the zero level now.
The 15 and 5 minute chart are now rolling over toward going below the zero level. If this continues (which I believe it will), these 2 charts will be oversold by the end of the day and aligned back up with the 30 and 60 minute charts.
This will have all 4 of this short term charts pointing up into tomorrow morning. If we are ever going to get a blow off top, it will have the best chance when all of these charts are in agreement with each other… in other words, Friday!
Did you see how the market was barely above water when the dollar was down 1% yesterday, yet today, the dollar is up and the market is barely underwater? This is a display of absolute power…
Call me crazy zstock, but I think with the money that’s rolling in the next several months, THEY are going to try to double-top the dow. I mean, all-time double-top. It just hit me today.
I think that’s Madman Bernanke’s goal for the end of this round of QE. Think 1999.
Or, there’s QE 3, 4, 5, 6, etc, this could be just the half-way point to a major, unbelievably overbloated market.
red,
so it seems that the primary dealers are looking to suck the VOLUME OUT of the market so they can play liquidity rebate fun and melt it up. So volume is the KEY….. how do you FAKE volume so we can take back the markets???
Yes, volume has dropped off a cliff… which is why it’s about useless to try and short (with options) for any decent multiday pullback. They simply won’t let this market go down.
Interesting……like I have mentioned before though….daily open interest and volume have dropped off significantly as prices continued to rise to new highs. Less and less committing to the long side…pro’s are stepping out……
Here’s the live feed for President Mubarak, who is scheduled to speak (about stepping down) at 3pm EST…
http://english.aljazeera.net/watch_now/
Well, I’m off by a day as usual. The 60 and 30 minute charts are still in negative territory on the histogram bars, but they are inching up close to the zero level now.
The 15 and 5 minute chart are now rolling over toward going below the zero level. If this continues (which I believe it will), these 2 charts will be oversold by the end of the day and aligned back up with the 30 and 60 minute charts.
This will have all 4 of this short term charts pointing up into tomorrow morning. If we are ever going to get a blow off top, it will have the best chance when all of these charts are in agreement with each other… in other words, Friday!
CSCO Chart: http://niftychartsandpatterns.blogspot.com/2011/02/cisco-chart-analysis.html
Did you see how the market was barely above water when the dollar was down 1% yesterday, yet today, the dollar is up and the market is barely underwater? This is a display of absolute power…
…as long as the money flows.
Call me crazy zstock, but I think with the money that’s rolling in the next several months, THEY are going to try to double-top the dow. I mean, all-time double-top. It just hit me today.
I think that’s Madman Bernanke’s goal for the end of this round of QE. Think 1999.
Or, there’s QE 3, 4, 5, 6, etc, this could be just the half-way point to a major, unbelievably overbloated market.
red,
so it seems that the primary dealers are looking to suck the VOLUME OUT of the market so they can play liquidity rebate fun and melt it up. So volume is the KEY….. how do you FAKE volume so we can take back the markets???
It’s on the toolbar below under “Images”… third one from left to right, second row. It’s for 20.16 on the SPY! Now that’s one scary print!
(let me know if you can’t access the toolbar, and I’ll dig up the link to it)
Hi Red,
I recall a super low SPY print the same day (3/30/2010) the DIA print of 118.16 was seen. It was 20 something. Do you have a screenshot of that one?
Thanks
Yes, volume has dropped off a cliff… which is why it’s about useless to try and short (with options) for any decent multiday pullback. They simply won’t let this market go down.
Interesting……like I have mentioned before though….daily open interest and volume have dropped off significantly as prices continued to rise to new highs. Less and less committing to the long side…pro’s are stepping out……
Keith
thedailyeminitrader.com