You should know by now how accurate those FP's are… and we had one yesterday of 111.28 spy. You should have closed out this morning and reshorted when we hit that FP today or Monday.
But, you should still be ok, as next week the daily chart should roll over and then we should see a nice move down.
They are still trying to ramp it higher. Unlike yesterday, probably no sell-off into the close. For my own sake, I hope I am wrong. Sick to my stomach of seeing my account whipped around the last 2 days.
If we go up to 1187, then we won't stop there. I would expect us to go up to the DIA 118.16 FP (about 1260-1280 spx) at that point. It would turn the trend back up to bullish mode on the longer term time frames.
It's possible, as the weekly chart is still pushing up, but I just don't know how long it will continue before it rolls back down? The monthly is still pointing down, and will over power the weekly chart at some point. When… I can't answer?
We had a FP yesterday of 111.28 spy, which it doesn't look like it's going to hit there today (but the day isn't done yet). I expect that print to be hit for sure, but after that I don't know?
I do expect Monday to be up, at least from looking at the charts right now.
Hopefully this latest ramp is the last 2 wave we have to deal with…..Maurice Walker has a nice 5min chart with the 200 period average. SP is still declining gradually and not extending too far from it.
ramp after ramp after ramp. Never ending.
You should know by now how accurate those FP's are… and we had one yesterday of 111.28 spy. You should have closed out this morning and reshorted when we hit that FP today or Monday.
But, you should still be ok, as next week the daily chart should roll over and then we should see a nice move down.
They are still trying to ramp it higher. Unlike yesterday, probably no sell-off into the close. For my own sake, I hope I am wrong. Sick to my stomach of seeing my account whipped around the last 2 days.
DIA touched 105, intraday retest high. let the pullback begin.
At the rate we are moving up now, we could see that 111.28 print today.
If we go up to 1187, then we won't stop there. I would expect us to go up to the DIA 118.16 FP (about 1260-1280 spx) at that point. It would turn the trend back up to bullish mode on the longer term time frames.
It's possible, as the weekly chart is still pushing up, but I just don't know how long it will continue before it rolls back down? The monthly is still pointing down, and will over power the weekly chart at some point. When… I can't answer?
We had a FP yesterday of 111.28 spy, which it doesn't look like it's going to hit there today (but the day isn't done yet). I expect that print to be hit for sure, but after that I don't know?
I do expect Monday to be up, at least from looking at the charts right now.
One bullish scenario…
http://screencast.com/t/ZmEyMGFkNG
btw, Atilla now calls for 1187
I have been reading your blog and you have been pretty accurate.!
How high do you think the market (spx) could go before it heads lower? I can see initial resistance at 1120 then at 1131 on spx.
I am looking for good levels to short this market.
Hopefully this latest ramp is the last 2 wave we have to deal with…..Maurice Walker has a nice 5min chart with the 200 period average. SP is still declining gradually and not extending too far from it.