Someone researched those POMO days for me…not every build day, results in an up day on the market…I may still get my down every Tuesday, because USO folks get nervous on Tuesday’s, about the WED oil reports
Very nice consolidation today. I like sideways…. CSCO looks like its done selling off and ready for some upside IMO. Company loaded with cash….It’s very dangerous to bet against this trend. Glad Sants showed up this year…………g.l.
With this close, I guess 127hours is correct. This market RIP on 12-03. Dojis/negative dojis everywhere. ISEE all equities put call ratio showing a gorging of call buying today despite the nowhere market. Transports down. Comments on Daneric’s page at a multi-week low. And the more I venture through the blogosphere, the more depressed I get as all the experts are bullish and debunking all of the tried and true sell indicators. I think I need to engage in some external communication eradication.
Notice that the histogram bars are in negative territory, and moving back up to the zero line. While the MACD’s are still overbought, we could do a head fake breakout tomorrow and get the histogram bars above the zero line to become over bought with the MACD’s.
The 60 minute chart is still pointing down on it’s histogram bars and should continue down, based on the MACD’s 12, 26, and 9 time periods, but the longer time frame of 65, 90, and 12 still hasn’t turned down yet. This could allow the market pop higher briefly before rolling over.
While I think the double top will hold, and we won’t breakout to the upside, it still is a possibility to consider. Overbought can be become more overbought, as we all know by now.
Just look at the 60 minute chart and notice the 65, 90, and 12 MACD is still pointing up. I’m hoping that we just stay flat one more day allowing the shorter time frame of 12, 26, and 9 to rally back up and get overbought too… which would allow a nice move down on Wednesday.
But hoping is for gamblers, which of course we all are… if we are stupid enough to short the gangsters. LOL.
The 30 and 60 minute charts are now in oversold territory and looking ready to point back up. That could cause a gap up tomorrow, over the double top resistance level.
However, the charts have been wrong many times before, so a move down could just as easily happen too… but some news event will likely be needed to start it.
Will it happen, or will we continue to grind higher into the stratosphere? Who knows?
Someone researched those POMO days for me…not every build day, results in an up day on the market…I may still get my down every Tuesday, because USO folks get nervous on Tuesday’s, about the WED oil reports
S&P 500 Analysis after closing bell
http://niftychartsandpatterns.blogspot.com/2010/12/s-500-analysis-after-closing-bell_07.html
VIX is wound up so tight on the 15 minute chart, it’s got to break out, huge, one way or the other…signals are favoring higher for Tuesday…we’ll see!
CSCO, just raised my stops to 19.30…19.34 new support–$21 here we come!!!!!!
Very nice consolidation today. I like sideways…. CSCO looks like its done selling off and ready for some upside IMO. Company loaded with cash….It’s very dangerous to bet against this trend. Glad Sants showed up this year…………g.l.
O comments over at Jaywiz’s also.
With this close, I guess 127hours is correct. This market RIP on 12-03. Dojis/negative dojis everywhere. ISEE all equities put call ratio showing a gorging of call buying today despite the nowhere market. Transports down. Comments on Daneric’s page at a multi-week low. And the more I venture through the blogosphere, the more depressed I get as all the experts are bullish and debunking all of the tried and true sell indicators. I think I need to engage in some external communication eradication.
I should say oversold on the “short term”, as in the 12,26, and 9 time frames on the MACD. But here’s the 30 minute…
http://stockcharts.com/def/servlet/Favorites.CServlet?obj=ID1926808&cmd=show%5Bs208782657%5D&disp=P
Notice that the histogram bars are in negative territory, and moving back up to the zero line. While the MACD’s are still overbought, we could do a head fake breakout tomorrow and get the histogram bars above the zero line to become over bought with the MACD’s.
The 60 minute chart is still pointing down on it’s histogram bars and should continue down, based on the MACD’s 12, 26, and 9 time periods, but the longer time frame of 65, 90, and 12 still hasn’t turned down yet. This could allow the market pop higher briefly before rolling over.
While I think the double top will hold, and we won’t breakout to the upside, it still is a possibility to consider. Overbought can be become more overbought, as we all know by now.
http://stockcharts.com/def/servlet/Favorites.CServlet?obj=ID1926808&cmd=show%5Bs203387376%5D&disp=P
Just look at the 60 minute chart and notice the 65, 90, and 12 MACD is still pointing up. I’m hoping that we just stay flat one more day allowing the shorter time frame of 12, 26, and 9 to rally back up and get overbought too… which would allow a nice move down on Wednesday.
But hoping is for gamblers, which of course we all are… if we are stupid enough to short the gangsters. LOL.
Red, what charts are you looking at? 30 and 60 min charts for SPX are still overbought
The 30 and 60 minute charts are now in oversold territory and looking ready to point back up. That could cause a gap up tomorrow, over the double top resistance level.
However, the charts have been wrong many times before, so a move down could just as easily happen too… but some news event will likely be needed to start it.
Will it happen, or will we continue to grind higher into the stratosphere? Who knows?