Loved that headfake today. Many traders probably went all in once we broke resistance only to eat crow… Putting on the bull cap tomorrow due to seasonals. Spy at the 10dma and ready to rock and roll. Next week will be another story……………….
Yes everything is riding on tomorrow but today was disappointing to say the least.Maybe im missing something out here can you check over what i think and give your own input on it.
Cycle turning over to down trend on day chart.
Volume was high today.
trend line on the up has been broken.
res point has been holding even after its been breached so many times.
Everything points DOWN tomorrow however with the crap thats been going on its anyones guess
Don’t know yet DJ30? It could go either way tomorrow? They held this tape up, and closed it inside the major support line it’s been riding from the 1040 low.
We had very heavy volume and we still couldn’t close below that support line. That has me very worried, as it’s a bear worst nightmare. That support line should have broke today with the heavy volume.
They might be faking us all out, and plan to take it up to 1160-1170 tomorrow? Who’s knows at this point? If the job’s data isn’t too bad, or even good, then we could rally up even more.
I’d say that it’s 50/50 at this point. But, a break of that support line… and down she goes.
Usually the first day of the month is an up day, but when it’s not, my god, you can get a huge huge red candle. I remember one first day in JAN, I was 80% LONG, and that was the worst—stopped out of everything, opening bell.
Prudential said it’s paying for Star and Edison with $1.7 billion of capital from its balance sheet, along with $1.3 billion raised by selling new stock. The insurer will also borrow another $1.2 billion.
We may see the Golden Cross on the Dow tomorrow also….
Loved that headfake today. Many traders probably went all in once we broke resistance only to eat crow… Putting on the bull cap tomorrow due to seasonals. Spy at the 10dma and ready to rock and roll. Next week will be another story……………….
Yes everything is riding on tomorrow but today was disappointing to say the least.Maybe im missing something out here can you check over what i think and give your own input on it.
Cycle turning over to down trend on day chart.
Volume was high today.
trend line on the up has been broken.
res point has been holding even after its been breached so many times.
Everything points DOWN tomorrow however with the crap thats been going on its anyones guess
Don’t know yet DJ30? It could go either way tomorrow? They held this tape up, and closed it inside the major support line it’s been riding from the 1040 low.
We had very heavy volume and we still couldn’t close below that support line. That has me very worried, as it’s a bear worst nightmare. That support line should have broke today with the heavy volume.
They might be faking us all out, and plan to take it up to 1160-1170 tomorrow? Who’s knows at this point? If the job’s data isn’t too bad, or even good, then we could rally up even more.
I’d say that it’s 50/50 at this point. But, a break of that support line… and down she goes.
Hey Red! a day late…
Here’s that fake print on CELG….
http://zstock7.com/wp-content/uploads/2010/09/celg-9-28fp.png
Thanks Z…
Red whats your take on today i have given up trying to analysis the DJ 30 cause nothing makes any sense now.
Usually the first day of the month is an up day, but when it’s not, my god, you can get a huge huge red candle. I remember one first day in JAN, I was 80% LONG, and that was the worst—stopped out of everything, opening bell.
Option Monster…
http://www.youtube.com/watch?v=v6kxL9QKjTQ
Prudential said it’s paying for Star and Edison with $1.7 billion of capital from its balance sheet, along with $1.3 billion raised by selling new stock. The insurer will also borrow another $1.2 billion.