Nice upside day as seasonals played out today. Sold at mid day and I’m glad I did. Bulls looked unconvincing today. Put back on my BEAR hat for tomorrow and looking for some downside. Would love to see 1080…..
We have about 70 million shares traded on the spy right now. There’s not likely to be any big selling until the volume comes back. The market is waiting on something, and just churning out the weak bulls and bears.
By this Friday I expect a move in one direction or the other. Our big turn date is over the weekend on the 12th, which means a move on Friday or Monday is likely. Which one is unknown?
We’ll either breakout to the upside and rally up to the 1130 triple top (and probably break it), or sell off hard to the 105.39 FP from last week.
Since next week is opx and usually bullish, the move down should come this week… but will it? I don’t know, but if it doesn’t go down this week, then next week should surprise everyone by selling off into opx instead of the usual rally to squeeze out the short. It would then be squeezing out the longs… which is rare, but does happen from time to time.
Nice upside day as seasonals played out today. Sold at mid day and I’m glad I did. Bulls looked unconvincing today. Put back on my BEAR hat for tomorrow and looking for some downside. Would love to see 1080…..
Well gang… another boring day. A big move is coming, but I’m not sure which way it will break?
S&P 500 Hour chart analysis
FFIV is like CRM and NFLX – almost parabolic rise
We have about 70 million shares traded on the spy right now. There’s not likely to be any big selling until the volume comes back. The market is waiting on something, and just churning out the weak bulls and bears.
FFIV, I can’t believe the market is giving me a second time to short this over valued stock
GDX,NEM,AEM..shorts from yesterday, still in the positive. they aren’t cracking today, give it some time.
Shorting FCX today.
http://zstock7.com/?p=3242
Yes San, I agree…
By this Friday I expect a move in one direction or the other. Our big turn date is over the weekend on the 12th, which means a move on Friday or Monday is likely. Which one is unknown?
We’ll either breakout to the upside and rally up to the 1130 triple top (and probably break it), or sell off hard to the 105.39 FP from last week.
Since next week is opx and usually bullish, the move down should come this week… but will it? I don’t know, but if it doesn’t go down this week, then next week should surprise everyone by selling off into opx instead of the usual rally to squeeze out the short. It would then be squeezing out the longs… which is rare, but does happen from time to time.
Leo this up move may not sustain for too long. I am expecting SPX to trade in a range of 1091 – 1105 : LINK