Considering how far we’ve sold off now it appears that they have decided to rally into the 17th instead of going down into it, as today or tomorrow will very likely end this move down. Today appears to be a “flush out” move where they suck in the last bear and stop out the early bulls that went long.
At this point I’m not looking for just some lower high coming up from the rally that should start tomorrow or Monday but I expect them to make a new high, probably hitting that rising trendline I posted previously. That means we could see 1740-1750 over the next couple of weeks. With all the new bears getting short today and all the late bears that will be shorting the coming rally they should have plenty of “squeeze power” to take out the current high of 1729 by the 17th.
US Dollar near Weekly support Line: http://niftychartsandpatterns.blogspot.in/2013/10/us-dollar-near-weekly-support-line.html
Hi Leo, how the debt ceiling will effect market?
How you think is the result?
S&P will hit new high again this debt ceiling result?thanks
Its down big time. Are you saying the “roar up” is coming soon? Or is this play dead? Volume is up & heavy the past 3 days though.
Should be soon… got 2 coming but must confirm first.
Hi Red,
Any thoughts on the current Junior stock play?
Sitting in a big pool of red…
Considering how far we’ve sold off now it appears that they have decided to rally into the 17th instead of going down into it, as today or tomorrow will very likely end this move down. Today appears to be a “flush out” move where they suck in the last bear and stop out the early bulls that went long.
At this point I’m not looking for just some lower high coming up from the rally that should start tomorrow or Monday but I expect them to make a new high, probably hitting that rising trendline I posted previously. That means we could see 1740-1750 over the next couple of weeks. With all the new bears getting short today and all the late bears that will be shorting the coming rally they should have plenty of “squeeze power” to take out the current high of 1729 by the 17th.
Descending Triangle ES: http://niftychartsandpatterns.blogspot.in/2013/10/es-descending-triangle.html
what is this??is this from official NASA website??
Yeah, it’s probably nothing… just a sales gimmick!
Maybe! But only if was oficial from Nasa…. There is no evidence this is from nasa, probably be a hoax… Have to wait the countdown 😉