By the end of the day the 60 minute and 30 minute chart should be overbought. The 15, 10, and 5 should also reset from this mornings’ sell off and become overbought too.
Once they are all insync together the down move that follows should take out the supporting trendline from the rising channel. Will this happen tomorrow? I don’t know, as it depends on how long it takes to get the 60 overbought.
It will also depend on whether or not the market can take out these mornings’ high around 1190? If not, then any move up today will set up a bear flag for tomorrow morning and/or the last hour of today.
Agree, bears need follow-through with high volume selling to confirm the top is in. I don’t think this market will only correct ,instead it will just collapse 100 points or so on SPX. Here is the appropriate song to describe this manipulated market:http://www.youtube.com/watch?v=GUfS8LyeUyM
Thanks anoopsan well now everythings just a mess hahahah charts say down ,indicators say down ,news says up ,candlestick says up.HAHAHAHAH today im gonna flip a coin.
hahaha nothing new about this red same BS rise and repeat.To be honest im actually surprised that its still not coming down best guess here would be that they are trying to hold till the POMO kicks in for another run.
By the end of the day the 60 minute and 30 minute chart should be overbought. The 15, 10, and 5 should also reset from this mornings’ sell off and become overbought too.
Once they are all insync together the down move that follows should take out the supporting trendline from the rising channel. Will this happen tomorrow? I don’t know, as it depends on how long it takes to get the 60 overbought.
It will also depend on whether or not the market can take out these mornings’ high around 1190? If not, then any move up today will set up a bear flag for tomorrow morning and/or the last hour of today.
Better stay out till things are clear DJ30
S&P 500 In a channel: CLICK HERE
Well… not everyone knows, but a lot more know today then they did a few years ago. But definitely an appropriate song…
Agree, bears need follow-through with high volume selling to confirm the top is in. I don’t think this market will only correct ,instead it will just collapse 100 points or so on SPX. Here is the appropriate song to describe this manipulated market:http://www.youtube.com/watch?v=GUfS8LyeUyM
While we should go back up some over the next few hours, I’d say the high is already in for the day.
Thanks anoopsan well now everythings just a mess hahahah charts say down ,indicators say down ,news says up ,candlestick says up.HAHAHAHAH today im gonna flip a coin.
Dragon Fly Doji of DOW Jones Futures: CLICK HERE
anoopsan is there anything new on the DJ30 other then the 50 and 200 mda chart ?
hahaha nothing new about this red same BS rise and repeat.To be honest im actually surprised that its still not coming down best guess here would be that they are trying to hold till the POMO kicks in for another run.