It’s a beautiful Full Moon, and Euro rising on bailout!
From the land of WTF?
Ireland, after just days before, steadfastly denying it needs financial help, is forced to accept help.
Down below, please review the S&P 500, especially the Fib Fan from the Great Depression and the Big 61 Fibo, both now in play, both extremely bearish
And the Euro overall up on that news. Very odd. Perhaps what they nicely refer to as an exhaustion top/spike. Which basically means a last minute manipulation before the real direction is set.
NZD as a currency got hammered in Sunday action, against all others that I viewed.
I was snaked out of my copper short, and glad I had stop in place. Somehow I got a decent fill on a gap up. Again, with Eurozone blowing up I was surprised that USD down and copper up.
Went back in short copper at a higher price—based on the PRS kickdown shown in this blog last week.
Scanning the futures and FX, I really don’t see anything “obvious”.
Expiry was last Friday, and often the Monday after sees some serious moves as the market gets back to normal.
STRATEGY: set some orders to activate either long or short based upon a move. For ES (S&P 500 futures) I will accept an 8 point move beyond the entry point as profit stop. And a 1.25 point stop as a loss.
I get alot of periodicals. This one called Assembly is hilarious. Upset Zombie Workers, on the production line.
We will have a sell off Robert, but it’s likely to be bought back up and rallied throughout most of December. But next spring isn’t likely to be UP, as I fully expect the FP of 118.16 to be the final high for this market.
Since it’s likely to be hit in January or early February, the following months will be full of bears, not bulls. So spring isn’t likely going to be all that “springy” for the bulls… IMHO.
DIA, holding at the 20 day, and above it’s 50 day…If this is a real 20 day 50 day trap…That’s where the DOW trades in between it’s 20 day and 50 day, and this trap happens a lot, and I mean a lot!..The Dow is going down next week. The trap is set. Let’s see if the bull puts its foot in the trap.
Thanks for the update. When we finally do start heading down for good, I think Goldman will be sacrificed like Lehman Brothers was previously. Then, that FP of GS will happen as they go bankrupt.
Thanks… I keep seeing the same print too. I think it’s just an error with the charting system, as it shows up almost daily. But keep your eye’s open for others too… and let me know if you get one.
Red, I’ve seen you comment on false prints and thought I’d share I saw one. It might be old news but it’s on gold futures on prophet at 941. Yipes… if gold goes to $1550 in the coming weeks and then drops to 941 that would be a 38% retrace from the $250 “bottom” back 1999-2000. Could it be?
It’s a beautiful Full Moon, and Euro rising on bailout!
From the land of WTF?
Ireland, after just days before, steadfastly denying it needs financial help, is forced to accept help.
Down below, please review the S&P 500, especially the Fib Fan from the Great Depression and the Big 61 Fibo, both now in play, both extremely bearish
And the Euro overall up on that news. Very odd. Perhaps what they nicely refer to as an exhaustion top/spike. Which basically means a last minute manipulation before the real direction is set.
NZD as a currency got hammered in Sunday action, against all others that I viewed.
I was snaked out of my copper short, and glad I had stop in place. Somehow I got a decent fill on a gap up. Again, with Eurozone blowing up I was surprised that USD down and copper up.
Went back in short copper at a higher price—based on the PRS kickdown shown in this blog last week.
Scanning the futures and FX, I really don’t see anything “obvious”.
Expiry was last Friday, and often the Monday after sees some serious moves as the market gets back to normal.
STRATEGY: set some orders to activate either long or short based upon a move. For ES (S&P 500 futures) I will accept an 8 point move beyond the entry point as profit stop. And a 1.25 point stop as a loss.
I get alot of periodicals. This one called Assembly is hilarious. Upset Zombie Workers, on the production line.
And here it is, the Fib Fan from Great Depression
http://oahutrading.blogspot.com/
Well, at least I didn’t say 2009, or 2000 like what it still feels like too me. LOL
We will have a sell off Robert, but it’s likely to be bought back up and rallied throughout most of December. But next spring isn’t likely to be UP, as I fully expect the FP of 118.16 to be the final high for this market.
Since it’s likely to be hit in January or early February, the following months will be full of bears, not bulls. So spring isn’t likely going to be all that “springy” for the bulls… IMHO.
Dow 30 stocks are in bad shape—it will take an up 100 day, to get rid of these short sell signals….
http://zstock7.com/?p=3680
I do that all the time thinking it’s 2011.
People who fight the Fed love to lose $$$. Next Spring we will become more bearish……until then, the party goes on…………
DIA, holding at the 20 day, and above it’s 50 day…If this is a real 20 day 50 day trap…That’s where the DOW trades in between it’s 20 day and 50 day, and this trap happens a lot, and I mean a lot!..The Dow is going down next week. The trap is set. Let’s see if the bull puts its foot in the trap.
Thanks for the update. When we finally do start heading down for good, I think Goldman will be sacrificed like Lehman Brothers was previously. Then, that FP of GS will happen as they go bankrupt.
Thanks… I keep seeing the same print too. I think it’s just an error with the charting system, as it shows up almost daily. But keep your eye’s open for others too… and let me know if you get one.
Red, I’ve seen you comment on false prints and thought I’d share I saw one. It might be old news but it’s on gold futures on prophet at 941. Yipes… if gold goes to $1550 in the coming weeks and then drops to 941 that would be a 38% retrace from the $250 “bottom” back 1999-2000. Could it be?