Im looking at the 5 and 15 mins but it seems to be rolling over it should start working off the oversold conditions before going back down but tomorrow is one tough nut to crack for the bears.Going into friday we all know that the guys over on wall street want to close of the week at least on a stronger note on top of that the bonds market will be open and even if POMO doesnt affect the market in a direct sense the safe buying mentality comes into play.The bulls have not had a chance to rally the whole week and imho this was the one week in which the bears could make a dent.On the DJ30 we see that it has pushed down into the 11200 region but its bouncing off it right now unless it breaks in the next few hours it means that on the daily chart the up trend hasnt broken.Right now im actually confused i dont know weather to look at the charts or listen to the news.Each one to me is equally important but my gut is twisting in knots right now.If anyone would like to carry on this discussion please do so cause i want to see if im missing out on anything
Im looking at the 5 and 15 mins but it seems to be rolling over it should start working off the oversold conditions before going back down but tomorrow is one tough nut to crack for the bears.Going into friday we all know that the guys over on wall street want to close of the week at least on a stronger note on top of that the bonds market will be open and even if POMO doesnt affect the market in a direct sense the safe buying mentality comes into play.The bulls have not had a chance to rally the whole week and imho this was the one week in which the bears could make a dent.On the DJ30 we see that it has pushed down into the 11200 region but its bouncing off it right now unless it breaks in the next few hours it means that on the daily chart the up trend hasnt broken.Right now im actually confused i dont know weather to look at the charts or listen to the news.Each one to me is equally important but my gut is twisting in knots right now.If anyone would like to carry on this discussion please do so cause i want to see if im missing out on anything
Well i was out of the market for the last couple of days and wow what a roller coaster.I will only be doing more checking on how things are going on for tomorrow as todays move is quite important for me.Looks to me that we are heading down however once again we have SUPER FEDS coming to the rescue tomorrow.Man honestly this has been the hardest 2 months of trading and i feel like im breaking down.I am going to jump back on once i regain my focus but for now im just watching good luck to all traders over this weekend.
I wonder myself which one they’ll do? Close the gap above them, on the one below them? The 60 minute is still oversold and is trying to move back up, but it seems too weak with the daily now rolling over.
However, we still have light volume and no “event” yet, which favors the upside. It’s going to be the bulls that start the sell off, not the bears.
I think will probably go back up into the close today, as the lack of any further news leans bullish for the market.
do you think todays down day had to do with Cisco dropping 16% ?
Im looking at the 5 and 15 mins but it seems to be rolling over it should start working off the oversold conditions before going back down but tomorrow is one tough nut to crack for the bears.Going into friday we all know that the guys over on wall street want to close of the week at least on a stronger note on top of that the bonds market will be open and even if POMO doesnt affect the market in a direct sense the safe buying mentality comes into play.The bulls have not had a chance to rally the whole week and imho this was the one week in which the bears could make a dent.On the DJ30 we see that it has pushed down into the 11200 region but its bouncing off it right now unless it breaks in the next few hours it means that on the daily chart the up trend hasnt broken.Right now im actually confused i dont know weather to look at the charts or listen to the news.Each one to me is equally important but my gut is twisting in knots right now.If anyone would like to carry on this discussion please do so cause i want to see if im missing out on anything
Im looking at the 5 and 15 mins but it seems to be rolling over it should start working off the oversold conditions before going back down but tomorrow is one tough nut to crack for the bears.Going into friday we all know that the guys over on wall street want to close of the week at least on a stronger note on top of that the bonds market will be open and even if POMO doesnt affect the market in a direct sense the safe buying mentality comes into play.The bulls have not had a chance to rally the whole week and imho this was the one week in which the bears could make a dent.On the DJ30 we see that it has pushed down into the 11200 region but its bouncing off it right now unless it breaks in the next few hours it means that on the daily chart the up trend hasnt broken.Right now im actually confused i dont know weather to look at the charts or listen to the news.Each one to me is equally important but my gut is twisting in knots right now.If anyone would like to carry on this discussion please do so cause i want to see if im missing out on anything
Well i was out of the market for the last couple of days and wow what a roller coaster.I will only be doing more checking on how things are going on for tomorrow as todays move is quite important for me.Looks to me that we are heading down however once again we have SUPER FEDS coming to the rescue tomorrow.Man honestly this has been the hardest 2 months of trading and i feel like im breaking down.I am going to jump back on once i regain my focus but for now im just watching good luck to all traders over this weekend.
I wonder myself which one they’ll do? Close the gap above them, on the one below them? The 60 minute is still oversold and is trying to move back up, but it seems too weak with the daily now rolling over.
However, we still have light volume and no “event” yet, which favors the upside. It’s going to be the bulls that start the sell off, not the bears.
I think will probably go back up into the close today, as the lack of any further news leans bullish for the market.
Thanks anoopsan only thing now is BREAK dam it BREAK
Or maybe the “event” was stopped? Maybe it was that missile that never reached it’s target?
Maybe the “event” will be Irish default this weekend?
10yr now over 9%.
Probably back and fill today, and waiting for tomorrow to see if $9B is enough to stem the tide. If not, ba-woooooooooooosh!!!
SPY support and resistance levels
http://niftychartsandpatterns.blogspot.com/2010/11/spy-support-and-resistance-levels.html