That's good news for the bears. We have too watch for larger volume buyers on VIX calls, as the last time that happen the market tanked within a couple of days.
It gets confusing sometimes, as on one hand we know that if everyone is expecting the same turn date period then it won't work. The masses are the sheep that the wolves take from.
So, if Bam, Larry Pesavento, and host of other people are all calling for the same time period… it shouldn't work. But, on the other hand, the charts clearly say that we are close to an end to this rally up.
The charts never lie, but the way one reads them can be mistaken. So, am I the only one that sees a big leg down coming after we hit the 1131-1140 area? I doubt it, as I'm sure many other people see the same elliottwave pattern… which goes back to the first point, if too many people see it then it won't happen.
Feels like market wants to pull in some more bulls before drop today…….
That's good news for the bears. We have too watch for larger volume buyers on VIX calls, as the last time that happen the market tanked within a couple of days.
Vix is currently up 4% which is unusually high for the level of indexes.
I think we are getting played.
turn may have already started.
This is nothing in response to jobs report which just shows there is no improvement on the horizon.
I still see the possibility of tomorrow a s a neg start.
A little selling here Jim… but will it stick?
Market is barely reacting to the job numbers. we open down and close up
Dow Jones Futures before opening bell
http://niftychartsandpatterns.blogspot.com/2010…
S&P 500 analysis after closing bell
http://niftychartsandpatterns.blogspot.com/2010…
Completely????????????????????????????????????
It gets confusing sometimes, as on one hand we know that if everyone is expecting the same turn date period then it won't work. The masses are the sheep that the wolves take from.
So, if Bam, Larry Pesavento, and host of other people are all calling for the same time period… it shouldn't work. But, on the other hand, the charts clearly say that we are close to an end to this rally up.
The charts never lie, but the way one reads them can be mistaken. So, am I the only one that sees a big leg down coming after we hit the 1131-1140 area? I doubt it, as I'm sure many other people see the same elliottwave pattern… which goes back to the first point, if too many people see it then it won't happen.
Confusing you yet? I know I am… LOL