I was wondering about the BB on the 60min this morning. It should be tightening and that should be good sign for the bears. The daily is tightening a little. And anything on a smaller time frame than the 60 must have a vice lock tightening. MACD on 60 min looks like it would be almost impossible to reverse with a moonshoot out of these doldrums. There is a trader who has been hot the last few months who waits for a bubble to form in the BBs and then waits for it to tighten to do a counter-trend move. There is more to it though I am sure but that is one of the components for his trades.
I actually agree more with your position. when this came out this am i was really surprised.
But i have been hammered of late w/ my small short positions. i have been prepared to move aggressively short.
One opinion that has me perplexed is a statement the other day from Stuart Barney that explained this market rally as a possibile celebration that the Democrats will most likely lose the house in November effecting an immediate change in federal spending.
I just do not know. there are many conflicting points.
Weiss is certainly correct about one thing. news good or bad has not mattered.
I don't know about that Jim? The technicals say we are very close to overbought on the daily, and the weekly could turn back down at any time now.
While it's possible that we go higher, I wouldn't go long from these levels. I trust the FP's, and until I see that 107.12 level tagged, I'd stay out of the longs.
Buy the SPDR S&P 500 ETF (Symbol SPY) for 40% of your current portfolio value. Good news, bad news, it doesn’t matter – this market does not want to be held down. Important technical levels have been breached, and the corresponding price action is painting a very, very bullish scenario. I am looking for a move to the 1200 level for the S&P 500 in the next few weeks. 2. For the Asset class “Currencies.” Buy the CurrencyShares Euro Trust ETF (FXE) for 20% of your current portfolio value. I am looking for the euro to be worth between 1.38 and 1.50 USD in the near term. This position will profit if my
PBI is 10% under it's lower bb band…That's a great ,GO LONG NOW, signal
I was wondering about the BB on the 60min this morning. It should be tightening and that should be good sign for the bears. The daily is tightening a little. And anything on a smaller time frame than the 60 must have a vice lock tightening. MACD on 60 min looks like it would be almost impossible to reverse with a moonshoot out of these doldrums.
There is a trader who has been hot the last few months who waits for a bubble to form in the BBs and then waits for it to tighten to do a counter-trend move. There is more to it though I am sure but that is one of the components for his trades.
Look at BB band on 60 minute Dow and S& P. What do you think that tight pinch is leading to??
QQQQ's might be down 1% tomorrow. I have the signal. It works here and there.
The Euro is down .6% in today's session. The rest of the market needs to comply.
Feels like the calm before the storm right now…
Triangle Pattern of Russell 2000
http://niftychartsandpatterns.blogspot.com/2010…
I actually agree more with your position. when this came out this am i was really surprised.
But i have been hammered of late w/ my small short positions. i have been prepared to move aggressively short.
One opinion that has me perplexed is a statement the other day from Stuart Barney that explained this market rally as a possibile celebration that the Democrats will most likely lose the house in November effecting an immediate change in federal spending.
I just do not know. there are many conflicting points.
Weiss is certainly correct about one thing. news good or bad has not mattered.
I don't know about that Jim? The technicals say we are very close to overbought on the daily, and the weekly could turn back down at any time now.
While it's possible that we go higher, I wouldn't go long from these levels. I trust the FP's, and until I see that 107.12 level tagged, I'd stay out of the longs.
I just saw this alert from Weiss research FYI
Buy the SPDR S&P 500 ETF (Symbol SPY) for 40% of your current portfolio value. Good news, bad news, it doesn’t matter – this market does not want to be held down. Important technical levels have been breached, and the corresponding price action is painting a very, very bullish scenario. I am looking for a move to the 1200 level for the S&P 500 in the next few weeks.
2. For the Asset class “Currencies.”
Buy the CurrencyShares Euro Trust ETF (FXE) for 20% of your current portfolio value. I am looking for the euro to be worth between 1.38 and 1.50 USD in the near term. This position will profit if my