It’s pretty well formed on the 60 and 30 but only on day 2 of the daily. So the daily isn’t completely formed, but the short term charts are. Any positive news out tomorrow could push the market up.
While we could keep moving sideways for several more days, I do think we will push up higher this week. It should be tomorrow, but no one really knows for sure when it will happen.
cool thanks, here is the question, I was checking out the VXX jan 12 calls and see the spread is crazy… its like .40 cent spread… anyways… what i wanted to know was if I were to buy the VXX jan 12 calls for 2.10 today… from today til jan 2012.. I can sell my calls for a profit if the vxx moves up correct ? or do I have to wait til jan 2012 ?
Ok midway through trading overall the bullish monday seems to be quite subdued.Early trading from asia and london tried to push the market down but from the looks of things it only managed to push it into a trend channel.The POMO has come and gone and in my personal view that allowed the market to gain a foothold to stop the bears from taking over.Charts on a 5 min chart look very overbought and heavy overhead res seems to be stopping the bull from breaking out today.Res point which is holding for now seems to be 11370 on the DJ30 indices.Heavy support seems to be at 11320.Right now the market seems to be leaning towards a pullback.I wont be surprise if it continues on a downward move before the last hour of trading where buyers will rush to push the market back up to end the day with a doji on a day chart.
Not!
It’s pretty well formed on the 60 and 30 but only on day 2 of the daily. So the daily isn’t completely formed, but the short term charts are. Any positive news out tomorrow could push the market up.
While we could keep moving sideways for several more days, I do think we will push up higher this week. It should be tomorrow, but no one really knows for sure when it will happen.
Red the flag is on an hour chart right or is it a days chart
We are making a nice bull flag right now, and we should so up tomorrow from it.
Thanks anoopsan.Quick question are you the one drawing the charts ??
Dow Jones Fibonacci levels
http://niftychartsandpatterns.blogspot.com/2010/11/dow-jones-fibonacci-levels.html
There is no way this market is going to 11800 this week.
first we retrace to dow 11200…and then if that holds (almost certainly)…we can move back towards 11500/600 towards op-ex.
cool thanks, here is the question, I was checking out the VXX jan 12 calls and see the spread is crazy… its like .40 cent spread… anyways… what i wanted to know was if I were to buy the VXX jan 12 calls for 2.10 today… from today til jan 2012.. I can sell my calls for a profit if the vxx moves up correct ? or do I have to wait til jan 2012 ?
Ok midway through trading overall the bullish monday seems to be quite subdued.Early trading from asia and london tried to push the market down but from the looks of things it only managed to push it into a trend channel.The POMO has come and gone and in my personal view that allowed the market to gain a foothold to stop the bears from taking over.Charts on a 5 min chart look very overbought and heavy overhead res seems to be stopping the bull from breaking out today.Res point which is holding for now seems to be 11370 on the DJ30 indices.Heavy support seems to be at 11320.Right now the market seems to be leaning towards a pullback.I wont be surprise if it continues on a downward move before the last hour of trading where buyers will rush to push the market back up to end the day with a doji on a day chart.
sure Bullkiller happy to help