what is important to address, is that weeks before the market was data dependent, now after todays data release, the market hasnt move much to the upside.
is it because we are in a topping process? it doesnt matter why, cause you never are gonna find out, instead of finding the solution it is more important to identify the investors behavior
last 2 or 4 days we had a past 13:00 sell off, so i will wait for the same pattern to play…
some questions or opinions:
faz did got a bullish cross in the MACD(12,26,9)
indu is about to get the Golden Cross (50EMA vs 200EMA), are shorts (including me)…f*ucked?
Possible… yes, but nothing is going to happen until these short term charts work off their oversold conditions. We might not get any sell off today, as it could be pushed out to next week?
I’m bullish for the first half of today at least, and the rest of the day is unknown? Without a break of that trendline supporting this rally, the bears don’t stand a chance. 🙁
Today we got a strong thrust higher(bull trap) which was a false breakout followed by 1st wave down to 1137 with volume. We retraced to 0.318 level and tested it twice and 1145 resistance held. I think that was a wave 2. Now we should get a wave 3 tomorrow morning. It could be a large one we don’t know but tonight I must admit it feels weird like the tide is changing. We may also see an unexpected rally in the dollar contributing in a bearish stock move. Probabilities are on bears side. Rally fully extended, am not worried, bulls are tired and they got punched hard today. Stay short and sit tight, some sort of a decline is very close and we just have to be patient. The index is still under that trendline from the 2007 top. Also something to point out, almost all the years finishing by 0 are down years. It was like that for almost all the 20th century.Anything can happen.
Wouldn’t be amazing they have to use those circuit-breakers on the very first day of implementation.
Regards, Mike
You’re not the only one Jigsaw. I’m just about ready to throw in the towel on the bears, but the last I was about ready to throw in the towel on the bulls rallying was back at 1040… what’s that tell you?
S&P 500 Hour chart analysis
We’re getting close now! Come on support line… Break Dam it!
what is important to address, is that weeks before the market was data dependent, now after todays data release, the market hasnt move much to the upside.
is it because we are in a topping process? it doesnt matter why, cause you never are gonna find out, instead of finding the solution it is more important to identify the investors behavior
last 2 or 4 days we had a past 13:00 sell off, so i will wait for the same pattern to play…
some questions or opinions:
faz did got a bullish cross in the MACD(12,26,9)
indu is about to get the Golden Cross (50EMA vs 200EMA), are shorts (including me)…f*ucked?
Possible… yes, but nothing is going to happen until these short term charts work off their oversold conditions. We might not get any sell off today, as it could be pushed out to next week?
I’m bullish for the first half of today at least, and the rest of the day is unknown? Without a break of that trendline supporting this rally, the bears don’t stand a chance. 🙁
1150= 61.8% retracement from yesterday’s decline, so possible wave 3 starts at this level
http://www.hotoptionbabe.com/blog/69-putting-myself-out-there.html
S&P 500 Futures before opening bell
Ici en France on commence à bien descendre
Now CAC40 down enclenched
Go bear
Today we got a strong thrust higher(bull trap) which was a false breakout followed by 1st wave down to 1137 with volume. We retraced to 0.318 level and tested it twice and 1145 resistance held. I think that was a wave 2. Now we should get a wave 3 tomorrow morning. It could be a large one we don’t know but tonight I must admit it feels weird like the tide is changing. We may also see an unexpected rally in the dollar contributing in a bearish stock move. Probabilities are on bears side. Rally fully extended, am not worried, bulls are tired and they got punched hard today. Stay short and sit tight, some sort of a decline is very close and we just have to be patient. The index is still under that trendline from the 2007 top. Also something to point out, almost all the years finishing by 0 are down years. It was like that for almost all the 20th century.Anything can happen.
Wouldn’t be amazing they have to use those circuit-breakers on the very first day of implementation.
Regards, Mike
You’re not the only one Jigsaw. I’m just about ready to throw in the towel on the bears, but the last I was about ready to throw in the towel on the bulls rallying was back at 1040… what’s that tell you?