Is it always in the morning session Woody? It certainly looks that way. Be sure to keep us informed on it. I’m waiting patiently until this Thursday, as I think that will be the best time to get short for a larger move down.
I think we are going to chop around here for a few more days. The volume is still light, and we are now oversold on the 60 minute chart. Since it’s the most important chart for us short term swing traders, I’d wait until it becomes overbought again.
That might not be until Thursday morning… which would match up perfectly with what Danny Riley said in the Mr. TopStep video. The buying is currently coming from portfolio managers, and they usually run out of cash by 11:30 am – Noon on the last day of the quarter.
That means this Thursday they won’t have anymore money to buy up the market, and it will be free to fall. Also note that the link Woody put up shows that the Fed’s will be buying on September the 30th too, and then won’t buy again until October the 5th.
So, that leaves Thursday afternoon and all day Friday exposed to bear attacks! Let’s all stay focused and attack together on that date.
One more reason would be that the 60 minute chart will probably put in a smaller positive histogram tower by Thursday morning, creating a negative divergence from the previous tower.
I do believe this will be the best time to go short. The charts will likely be aligned together, ready to roll over to the downside… and there won’t be any money to support the fall. Be patient my fellow bears… LOL
So IMHO, I wouldn’t go short today… at least not heavily. I still think they should gap up above the 1150 level on an intraday candle to clear out the stops, and then sell it off.
10:15 is when the FED starts buying…
“[footnote]1 Operations are tentatively scheduled to begin around 10:15 AM and close at 11:00 AM.”
I’m sticking with Thursday afternoon San… that’s my prediction.
That’s right, But the bears are waiting for an hourly candle closing below 50 ma
Since it’s the first time it’s hit the 50ma, I’d expect it to bounce up from it. But, that’s the first crack in the dam, and more will follow.
Apple Violates the 50 Hour moving average
Is it always in the morning session Woody? It certainly looks that way. Be sure to keep us informed on it. I’m waiting patiently until this Thursday, as I think that will be the best time to get short for a larger move down.
Some correlation between FED injection and the HUI [From another board]
“checked out the price movements (hui) on a 15min timeframe, and is quite impressive how much in sync it is.”
http://lh3.ggpht.com/_MnCrP7qGB1s/TKIVhwlRTzI/AAAAAAAAGhk/Uq2KwFX-SMo/s1600/image%5B12%5D.png
Gang,
I think we are going to chop around here for a few more days. The volume is still light, and we are now oversold on the 60 minute chart. Since it’s the most important chart for us short term swing traders, I’d wait until it becomes overbought again.
That might not be until Thursday morning… which would match up perfectly with what Danny Riley said in the Mr. TopStep video. The buying is currently coming from portfolio managers, and they usually run out of cash by 11:30 am – Noon on the last day of the quarter.
That means this Thursday they won’t have anymore money to buy up the market, and it will be free to fall. Also note that the link Woody put up shows that the Fed’s will be buying on September the 30th too, and then won’t buy again until October the 5th.
So, that leaves Thursday afternoon and all day Friday exposed to bear attacks! Let’s all stay focused and attack together on that date.
One more reason would be that the 60 minute chart will probably put in a smaller positive histogram tower by Thursday morning, creating a negative divergence from the previous tower.
I do believe this will be the best time to go short. The charts will likely be aligned together, ready to roll over to the downside… and there won’t be any money to support the fall. Be patient my fellow bears… LOL
So IMHO, I wouldn’t go short today… at least not heavily. I still think they should gap up above the 1150 level on an intraday candle to clear out the stops, and then sell it off.
Yesterday’s FP 114.48 filled few minutes ago, now do we tank?Went short 20% SDS
Your fp 114.48 is filled now, so do we tank from there?Scaling 20% short with SDS