The market looks a little tired here gang. We could have a pullback to reset the short term charts from the their overbought conditions here in a day or so. Then I’d expect another move higher to breakthrough the 1850 high, but it probably won’t happen until next week.
This move down and then back up should create a negative divergence on the charts, which is needed for the final high to happen from this big move up from the low last week on the 5th. After the high happens next week I think we could then (finally) see some decent selling happen.
The next important ritual date is this Thursday the 20th… so possibly we see an important top on that day and a nice down move to start right afterwards. Since we are so close to a new high I’m going with the assumption that we will get one. However, it’s normal to expect a pullback first before a breakout so possibly we fall back first and then push through?
Meaning that “maybe” we run up and hit the 1850 area of resistance Tuesday and then pullback 10-20 points? Then recapture the level and break through it by 20-30 more points to lure in the last bull? Then I’d expect an important top and a reverse to the downside to start.
ES Chart analysis: http://niftychartsandpatterns.blogspot.in/2014/02/s-500-futures-before-opening-bell_20.html
the guy he follows
The market looks a little tired here gang. We could have a pullback to reset the short term charts from the their overbought conditions here in a day or so. Then I’d expect another move higher to breakthrough the 1850 high, but it probably won’t happen until next week.
This move down and then back up should create a negative divergence on the charts, which is needed for the final high to happen from this big move up from the low last week on the 5th. After the high happens next week I think we could then (finally) see some decent selling happen.
Apple Chart analysis: http://niftychartsandpatterns.blogspot.in/2014/02/apple-chart-analysis_19.html
will see ~3% pull back first.
So many stocks are making new highs, I wouldn’t stress calling a top. Moreso be cautius
Gold Support and Resistance levels: http://niftychartsandpatterns.blogspot.in/2014/02/gold-support-and-resistance-levels_19.html
The next important ritual date is this Thursday the 20th… so possibly we see an important top on that day and a nice down move to start right afterwards. Since we are so close to a new high I’m going with the assumption that we will get one. However, it’s normal to expect a pullback first before a breakout so possibly we fall back first and then push through?
Meaning that “maybe” we run up and hit the 1850 area of resistance Tuesday and then pullback 10-20 points? Then recapture the level and break through it by 20-30 more points to lure in the last bull? Then I’d expect an important top and a reverse to the downside to start.
hilarious
Who?