Just puttin' this out there, I've been at this a long time. If you get a summer rally, You usually get the x-mas rally too! Bears might own Sept or Oct, and half of Nov.
I can't help myself — I bought some ERY (3x short Russell 1000 Energy (RGS) Index) after hours. ERY was down 10.44% today. Oil is stupid-overbought on dollar weakness. I think there will be a slight retrace overnight, I'm only looking for about 2-3% in ERY.
It's looking bad for the bears right now. I do believe that FP of 107.12 (or Anna's 107.35) spy will play out… but when is the question? Will it be this week on the jobs data? Maybe? Maybe not?
Hi Red, My rounded bottom theory on the SP weekly, 1200 target, is gaining traction, I hate to say. DIA took out the June highs, see if it can take out the MAY highs , 109 or so. Then, I have to really consider the APRIL highs, that's scary for bears.
Gap up over the channel line. Do you think that markets have to “make sense?”, think about the Tech bubble of 1999. Commercial propoerty is hosed, but that doesn't mean the stocks can't run for the sky. However, one temperment to this bullishness….this could be a bronto throw off…what i mean is a silly stop catching rally up, followed by the big down. Arch Crawford has today as a big turn day, assumed to be down, and that barberous relic of Astro astronomy has been getting mainstream media coverage. The point is? Could be that he is getting gamed just like EWI gets gamed.
The Euro pegged off a long lasting PRS 133 channel line. This is a very strong signal, however, it looks like it is consolidating, possibly for another run at the line. That would be bullish for equities assuming the correlation holds.
You got more guts then I do Dread… Shorting is very dangerous right now.
Just puttin' this out there, I've been at this a long time.
If you get a summer rally, You usually get the x-mas rally too!
Bears might own Sept or Oct, and half of Nov.
LOL… it's a blood red sky! …just like the reality of the rally.
After DIA reaches 108 or so, I'm looking for a 6% pullback in IWM…
I don't know what that converts to on the SP
I can't help myself — I bought some ERY (3x short Russell 1000 Energy (RGS) Index) after hours. ERY was down 10.44% today. Oil is stupid-overbought on dollar weakness. I think there will be a slight retrace overnight, I'm only looking for about 2-3% in ERY.
I started posting this picture July 9th.
http://zstock7.com/wp-content/uploads/2010/07/S…
here's the actual blog post
http://zstock7.com/?p=2975
Yeah Z…
It's looking bad for the bears right now. I do believe that FP of 107.12 (or Anna's 107.35) spy will play out… but when is the question? Will it be this week on the jobs data? Maybe? Maybe not?
Hi Red,
My rounded bottom theory on the SP weekly, 1200 target, is gaining traction, I hate to say.
DIA took out the June highs, see if it can take out the MAY highs , 109 or so. Then, I have to really consider the APRIL highs, that's scary for bears.
Nothing makes any sense right now Steve. This move up certainly looks very bullish now, as the daily and weekly charts are still pointing up.
Gap up over the channel line. Do you think that markets have to “make sense?”, think about the Tech bubble of 1999. Commercial propoerty is hosed, but that doesn't mean the stocks can't run for the sky. However, one temperment to this bullishness….this could be a bronto throw off…what i mean is a silly stop catching rally up, followed by the big down. Arch Crawford has today as a big turn day, assumed to be down, and that barberous relic of Astro astronomy has been getting mainstream media coverage. The point is? Could be that he is getting gamed just like EWI gets gamed.
The Euro pegged off a long lasting PRS 133 channel line. This is a very strong signal, however, it looks like it is consolidating, possibly for another run at the line. That would be bullish for equities assuming the correlation holds.
http://oahutrading.blogspot.com/