Well today more or less played out to the sideways movement that i stated earlier on.As for tomorrow my best guess would be a slight drift downwards followed by the strong move down on friday.
I didn’t follow the market today. After hearing the Dow opened up 18 near the open and still there halfway through, I was expecting a doji day or a drop near the close, but looking at things, today was a really strange day. It looks like the Dow flew solo most of the day and the former leader Nasdaq closed down .8% and looks like at one point was down 1%. This session can’t be considered good for the bulls. I haven’t checked breadth but I would have to say there was decent negative breadth. Only thing is I haven’t seen October 7 as a key date although it is a new moon. Important bottoms are usually made at the new moon at the end of the lunar month so things could have inverted. The B wave in 1987 also topped on October 5.
Well, Cramer did scroll down to 70 on his TV screen for (OPen) in yesterday’s show and for some reason started the first chart at September 23 and mentioned it in name too. The number 23 is displayed in Social Contract(as the numbers of two boats racing) during rowing race in England in a scene that seemed totally extraneous to the plot and very weird visuals were used in the seem. (it seemed very computer generated)
We have our “pause” day, so what’s next? Do we put in another couple of “pause” days to end the week out on Friday? Or do we have a surprise 49 handle drop over the next 4 days like Mr. TopStep stated that happened in the past when the put level was down to 12%?
We have a FP of 116.15 spy that just showed up. Not that it’s a big upside print, but it might mean that they are going back up today for a retest of the current high 🙁
Well today more or less played out to the sideways movement that i stated earlier on.As for tomorrow my best guess would be a slight drift downwards followed by the strong move down on friday.
I didn’t follow the market today. After hearing the Dow opened up 18 near the open and still there halfway through, I was expecting a doji day or a drop near the close, but looking at things, today was a really strange day. It looks like the Dow flew solo most of the day and the former leader Nasdaq closed down .8% and looks like at one point was down 1%. This session can’t be considered good for the bulls. I haven’t checked breadth but I would have to say there was decent negative breadth. Only thing is I haven’t seen October 7 as a key date although it is a new moon. Important bottoms are usually made at the new moon at the end of the lunar month so things could have inverted. The B wave in 1987 also topped on October 5.
Well, Cramer did scroll down to 70 on his TV screen for (OPen) in yesterday’s show and for some reason started the first chart at September 23 and mentioned it in name too. The number 23 is displayed in Social Contract(as the numbers of two boats racing) during rowing race in England in a scene that seemed totally extraneous to the plot and very weird visuals were used in the seem. (it seemed very computer generated)
I’d say it’s more like the Titanic is sinking!
I’m treating the DOW as if it’s at RSI 50…could go to RSI 70 or RSI 30…RSI 70= new yearly high +4%, RSI 30 = 6 to 10% pullback.
FFIV, no acquisition talks in the foreseeable future, Headline = buying op, but I’d wait a couple of days.
http://blogs.barrons.com/techtraderdaily/2010/10/06/f5-gleacher-downgrades-to-neutral-doesnt-see-acquisition/?mod=yahoobarrons
Nobody will believe me. I shorted this yesterday. wowza!
Nag Dabbit! They did just that!
Well gang…
We have our “pause” day, so what’s next? Do we put in another couple of “pause” days to end the week out on Friday? Or do we have a surprise 49 handle drop over the next 4 days like Mr. TopStep stated that happened in the past when the put level was down to 12%?
Spy just after flash crash
May 10: close 116.16,high 116.65
May 11: close 115.83 high 117.36
may 12: close 117.45 high 117.62
We have a FP of 116.15 spy that just showed up. Not that it’s a big upside print, but it might mean that they are going back up today for a retest of the current high 🙁
Mr. TopStep…
http://www.youtube.com/watch?v=AK4jVm7zut0&feature=player_embedded