The market is resting right on that rising trendline that has supported this move up from the 1010 low. Until it breaks, I wouldn't expect the sell off to stick.
Here's the other part that sucks for the bears (assuming it doesn't break between now and 2:30), the 15 and 60 minute chart will be oversold and ready to rise back up within the next 4 hours.
Meaning, unless the FED's say something really stupid, all of the selling pressure will be over by 2:30, and that would allow a move back up to work off the oversold conditions. This assumes they don't spook the market more.
But, on a positive note (for the bears of course… he he he, evil me), the daily chart is just about ready to rollover now (and DIE!)… LOL
Vixes are now over 7% Selling is much more accelerated.
It seems yesterdays low volume allowed a few to get out and trapped others into complacency. Remember the vixes yesterday were positive most of the day.
I have 113
I have an intraday FP of 112.50 spy, so it looks like we will go up after the Fed minutes…
Dow Jones Futures resistance line
http://niftychartsandpatterns.blogspot.com/2010…
Looks like it is setting up to close the gap.
Dollar is climbing. Buy the dips ain't gonna cut it today. Gonna get ugly……
The market is resting right on that rising trendline that has supported this move up from the 1010 low. Until it breaks, I wouldn't expect the sell off to stick.
Here's the other part that sucks for the bears (assuming it doesn't break between now and 2:30), the 15 and 60 minute chart will be oversold and ready to rise back up within the next 4 hours.
Meaning, unless the FED's say something really stupid, all of the selling pressure will be over by 2:30, and that would allow a move back up to work off the oversold conditions. This assumes they don't spook the market more.
But, on a positive note (for the bears of course… he he he, evil me), the daily chart is just about ready to rollover now (and DIE!)… LOL
The 5 minute is turning fast. the bounce is in. vixes are calming.
Is this a bear trap?? looks like its setting up.
Vixes are now over 7% Selling is much more accelerated.
It seems yesterdays low volume allowed a few to get out and trapped others into complacency. Remember the vixes yesterday were positive most of the day.
Will the selling volume materialize??
I typed “Legatus Pilgrimage Meetings” into google, and Above Top Secret has their prior dates…
http://www.abovetopsecret.com/forum/thread43689…
See if you can line that up on your chart. Thanks.