DRN was up 5% on the day (my position moreso). I see a bullish engulfing candle on USO (daily), with increased volume. There was a bearish engulfing on the $VIX on the 2nd hourly candle. At the minimum, we're getting a relief bounce if not a real reversal here.
Dabama here….OK lets figure out how to save America.
Chorus of PPT actors—Sure what you got in mind boss?
Well I am thinking that drawing a line in the sand worked so well in Iraq and Afghanistan, that we draw a line on the SPX and defend it.
PTT hehe, we know hwo to defend it…we just make the hush hush call to Goldman, Morgan, and those newish guys, and they crank the futures…we just have to give them free money, that they can pump with, and they can also lend that money back to us to Support T-bills also. High five guys!!! We save the country, the market, and our debt all in one shot!!!!!
Dabama: OK good, so where should we draw that line….
PPT–deep thought…………hey how about 1040, you know, like the tax form….yeah yeah,,,,,
Dabama: great and easy to remember, OK code word for da pump boyz is 1040 taxes. Just call them and say hey did you file your 1040 tax form yet….it’s perfect
Tomorrow and Friday an important turn date for the market. So will it turn up and rally, breaking the down trend… or a high be put in tomorrow, followed by another leg down of selling? The charts say this is just a retracement move, but if the data released on Thursday and Friday is viewed positively, the market could turn back up for awhile. I personally don't think it will, but it's good to have an open mind.
I enjoy your commentary and look forward to your analysis on Utube.
Thanks
Thanks… I try. 🙂
New post
I enjoyed your analysis. 1070 or not…we're going down.
Next 3 sessions should be nasty. Good luck all…………..
S&P 500 analysis after closing bell
http://niftychartsandpatterns.blogspot.com/2010…
DRN was up 5% on the day (my position moreso). I see a bullish engulfing candle on USO (daily), with increased volume. There was a bearish engulfing on the $VIX on the 2nd hourly candle. At the minimum, we're getting a relief bounce if not a real reversal here.
Dabama here….OK lets figure out how to save America.
Chorus of PPT actors—Sure what you got in mind boss?
Well I am thinking that drawing a line in the sand worked so well in Iraq and Afghanistan, that we draw a line on the SPX and defend it.
PTT hehe, we know hwo to defend it…we just make the hush hush call to Goldman, Morgan, and those newish guys, and they crank the futures…we just have to give them free money, that they can pump with, and they can also lend that money back to us to Support T-bills also. High five guys!!! We save the country, the market, and our debt all in one shot!!!!!
Dabama: OK good, so where should we draw that line….
PPT–deep thought…………hey how about 1040, you know, like the tax form….yeah yeah,,,,,
Dabama: great and easy to remember, OK code word for da pump boyz is 1040 taxes. Just call them and say hey did you file your 1040 tax form yet….it’s perfect
High fives, high fives.
Charts at
http://oahutrading.blogspot.com/2010/08/dabama-here-defend-our-country-boyz.html
Cap Vision seems to be right on today's action..
http://images.quickblogcast.com/7/5/9/5/5/59924…
Well…
Tomorrow and Friday an important turn date for the market. So will it turn up and rally, breaking the down trend… or a high be put in tomorrow, followed by another leg down of selling? The charts say this is just a retracement move, but if the data released on Thursday and Friday is viewed positively, the market could turn back up for awhile. I personally don't think it will, but it's good to have an open mind.