good point as it seems to be in a channel right now and without a clear sign on where its going anyone could be caught out on a big move still about an hour to go on the market and for the dow it seems to be retreating back to the days opening.(My opening is at 6:00 when the night trading starts) Shows me that without POMO even on good GDP numbers its already starting to turn.This really shows how fragile the market is right now.I wont put it past the market to rally before closing and make a rush to finish off near 11100 but times ticking away for that to happen.On my charts 1 min is oversold. 5 min is over sold. 15 min is over sold. My own personal wish is for the bears to hold out for the next hour to work off the oversold conditions.
Usually bulls get long on Fridays and we gap up on Mondays.So many times bears get crushed on bullish Mondays. I wonder now if they learned the lesson and simply don’t get short anymore.Someday we might just gap down on Monday with all the bulls trapped and no bears on board.
The ED can still play out with a 5th wave up to 1205 going into FOMC or the bears take out 1170 before. For me, i will be a bull once we take out April resistance with conviction and a bear when we break 1170. In the meantime let’s just watch,resolution is coming.
well there have been rumors flying around that QE this time round might already have factored in a sum that already has been on the market making it a smaller QE then expected.Overall i would say that the (shock and awe) effect is gone and all your left with are junkies chasing after that first high.If the QE figures come in lower then what they have previously wanted i wont be surprised if the market tanks in response to that.Im actually quite interested in the FOMC meeting to see what happens but overall when bernanke speaks the market shivers hahahah.
Not that it influences my guesstimates, and i’ve only started reading this site, but i like the scenario thats painted right to the gap at 1137. Matches up nicely.
Looks like there are two gaps EUR/USD must fill. Probably fill the higher one today, pumping the market +30-60 on the Dow, I would guess. Then fill the lower next week.
My guess is that QE will continue indefinitely. Any time the market gives any indication that it may possibly fall, or even stay flat, Madman Bernanke will push more money into the system. Any removal of liquidy from this economy, which is now fundamentally built on illegal intervention by the Fed, will result in a large downturn in the markets. It actually looks to me that there is no more “economy” in the US. It’s simply the Fed buying every other bond that comes out of the Treasury. Now that there’s no one left in the world to buy our garbage bonds, the Fed is the only one left. Unbelievable Ponzi scheme. No wonder there was a USD flash crash. The dollar no longer exists!
Hahahah thats all we are doing cause in this kind of market we can only guess as to weather it will happen this way or not somethings the market just likes to defy logic.
hahahah a trend traders dream
channel* sorry
Wow! The entire week has been nothing but one big doji…
good point as it seems to be in a channel right now and without a clear sign on where its going anyone could be caught out on a big move still about an hour to go on the market and for the dow it seems to be retreating back to the days opening.(My opening is at 6:00 when the night trading starts) Shows me that without POMO even on good GDP numbers its already starting to turn.This really shows how fragile the market is right now.I wont put it past the market to rally before closing and make a rush to finish off near 11100 but times ticking away for that to happen.On my charts 1 min is oversold. 5 min is over sold. 15 min is over sold. My own personal wish is for the bears to hold out for the next hour to work off the oversold conditions.
Usually bulls get long on Fridays and we gap up on Mondays.So many times bears get crushed on bullish Mondays. I wonder now if they learned the lesson and simply don’t get short anymore.Someday we might just gap down on Monday with all the bulls trapped and no bears on board.
The ED can still play out with a 5th wave up to 1205 going into FOMC or the bears take out 1170 before. For me, i will be a bull once we take out April resistance with conviction and a bear when we break 1170. In the meantime let’s just watch,resolution is coming.
well there have been rumors flying around that QE this time round might already have factored in a sum that already has been on the market making it a smaller QE then expected.Overall i would say that the (shock and awe) effect is gone and all your left with are junkies chasing after that first high.If the QE figures come in lower then what they have previously wanted i wont be surprised if the market tanks in response to that.Im actually quite interested in the FOMC meeting to see what happens but overall when bernanke speaks the market shivers hahahah.
Not that it influences my guesstimates, and i’ve only started reading this site, but i like the scenario thats painted right to the gap at 1137. Matches up nicely.
http://blog.capitalmarketvision.com/
Looks like there are two gaps EUR/USD must fill. Probably fill the higher one today, pumping the market +30-60 on the Dow, I would guess. Then fill the lower next week.
My guess is that QE will continue indefinitely. Any time the market gives any indication that it may possibly fall, or even stay flat, Madman Bernanke will push more money into the system. Any removal of liquidy from this economy, which is now fundamentally built on illegal intervention by the Fed, will result in a large downturn in the markets. It actually looks to me that there is no more “economy” in the US. It’s simply the Fed buying every other bond that comes out of the Treasury. Now that there’s no one left in the world to buy our garbage bonds, the Fed is the only one left. Unbelievable Ponzi scheme. No wonder there was a USD flash crash. The dollar no longer exists!
MICROSOFT Near 200 DMA: CLICK HERE
Hahahah thats all we are doing cause in this kind of market we can only guess as to weather it will happen this way or not somethings the market just likes to defy logic.