Or a drop back and punt (fill the gap) and then go for the finally touchdown later this week or early next? They might not break the line right now, as the 60 minute chart is pointing down, with no signs yet of turning back up.
Well, that could be a top instead of a bottom… especially if the market fails to break the overhead resistance today, as it should then fall back and fill the gap (at least, if not go lower?).
Then it would rally back up to fill the VIX FP, and probably hit 1333 spx, or high. We bears just can’t get suckered into any sell off today or tomorrow as being the big move, because we know the VIX print will be filled before the crash really starts.
I expect some kind of peak 11-14th.
If there’s softness on the SPX, beware the ides of March.
(a low looking like P3 beginnings, could be just another dip)
a chart i’ve shared over at TTW. http://tinypic.com/view.php?pic=3005ms9&s=7
3rd time a charm?
Of course… but it’s possible that the market fails to break the overhead resistance today and falls back down (breaking the rising wedge) and fills the gap around 131.20 spy area.
Then rally back later this week to fill the VIX FP area, topping out around 1333 spx or so. I still see several FP’s from yesterday that are around the gap fill level. Not sure if they are just late fills or FP’s signaling where the market will close today or tomorrow?
Hard too say, but any move down to that area is likely just a buying opportunity for the move back up to fill the VIX FP level (for those brave enough to put on a bull suit for a day or so).
The market is coming to the end of the apex of this triangle/wedge pattern. The 15 and 30 chart support a breakout to the upside, over the current resistance at the multiple top area.
The 60 minute chart is pointing down and has yet to reset back up. So it’s supporting a breakdown from the rising support line that started around 1275 spx, back on January 31st.
Who will win, the bull or the bear? (Duh… stupid question I guess?)
Or a drop back and punt (fill the gap) and then go for the finally touchdown later this week or early next? They might not break the line right now, as the 60 minute chart is pointing down, with no signs yet of turning back up.
Well, that could be a top instead of a bottom… especially if the market fails to break the overhead resistance today, as it should then fall back and fill the gap (at least, if not go lower?).
Then it would rally back up to fill the VIX FP, and probably hit 1333 spx, or high. We bears just can’t get suckered into any sell off today or tomorrow as being the big move, because we know the VIX print will be filled before the crash really starts.
red,
let me guess, yet another improbable ramp job. Throwing over major wedge and closing above the upper BB!!
I expect some kind of peak 11-14th.
If there’s softness on the SPX, beware the ides of March.
(a low looking like P3 beginnings, could be just another dip)
a chart i’ve shared over at TTW.
http://tinypic.com/view.php?pic=3005ms9&s=7
3rd time a charm?
Of course… but it’s possible that the market fails to break the overhead resistance today and falls back down (breaking the rising wedge) and fills the gap around 131.20 spy area.
Then rally back later this week to fill the VIX FP area, topping out around 1333 spx or so. I still see several FP’s from yesterday that are around the gap fill level. Not sure if they are just late fills or FP’s signaling where the market will close today or tomorrow?
Hard too say, but any move down to that area is likely just a buying opportunity for the move back up to fill the VIX FP level (for those brave enough to put on a bull suit for a day or so).
Bulls hands down.
The market is coming to the end of the apex of this triangle/wedge pattern. The 15 and 30 chart support a breakout to the upside, over the current resistance at the multiple top area.
The 60 minute chart is pointing down and has yet to reset back up. So it’s supporting a breakdown from the rising support line that started around 1275 spx, back on January 31st.
Who will win, the bull or the bear? (Duh… stupid question I guess?)
EURUSD Daily chart analysis: http://niftychartsandpatterns.blogspot.com/2011/02/eurusd-technical-analysis.html
That rising wedge on the S&P will be addressed,..eventually. Just not sure how violently it will happen.
Thanks, I see it now…