I think we continue to ramp until the Eurobank stress test results are released (sometime around noon tomorrow). After that? Sell the news? Popped stops rally into the close as everyone recognizes we've broken a trendline and bails on their shorts? I really have no idea.
There are a number of stops at 1100 SPX. I thought we would hit them today. Maybe tomorrow?
Maybe. Remember that there are some big earnings before the bell tomorrow, too. If Ford does well, I think it might blunt a lot of selling.
Also, the European bank stress tests will be released after the European markets are closed (6pm brussels time), so I expect a lot of shorts to be closed in anticipation of that. I know the whole exercise is bogus, but I'm trying to trade what I see in front of me.
Once the Eurobank news is out of the way, we could sell off. I really have no idea what price levels we'll be at.
AMZN, will probably take down all retail stocks. That in turn, should turn the market into a down day. Thank goodness, I went short, MO,QCOM,HCP,BRCM,FFIV, end of day.
NYSE has the highest tick close today going back 6months according to stock charts and closed on the high tick of the day. 2 days ago there was the huge intraday tick reading which doesn't forebode well for the market over the next few weeks or months accoring to Cobra via Bespoke.
Dow Jones analysis after closing bell
http://niftychartsandpatterns.blogspot.com/2010…
I think we continue to ramp until the Eurobank stress test results are released (sometime around noon tomorrow). After that? Sell the news? Popped stops rally into the close as everyone recognizes we've broken a trendline and bails on their shorts? I really have no idea.
There are a number of stops at 1100 SPX. I thought we would hit them today. Maybe tomorrow?
Maybe. Remember that there are some big earnings before the bell tomorrow, too. If Ford does well, I think it might blunt a lot of selling.
Also, the European bank stress tests will be released after the European markets are closed (6pm brussels time), so I expect a lot of shorts to be closed in anticipation of that. I know the whole exercise is bogus, but I'm trying to trade what I see in front of me.
Once the Eurobank news is out of the way, we could sell off. I really have no idea what price levels we'll be at.
I don't see any overall down move in the afterhours (the ES), so maybe it won't take the market down? I'm clueless about tomorrow.
AMZN, will probably take down all retail stocks.
That in turn, should turn the market into a down day.
Thank goodness, I went short, MO,QCOM,HCP,BRCM,FFIV, end of day.
well, I got slaughtered on SNDK long…down 7% on earnings. Bears are back, for at least one day.
Nothing is a coincidence…
108.25 was the possible fake print I brought to your attention yesterday. We opened at 108.33 today. Could just be coincidence.
It will be interesting to see what Cobra posts tonight too…
NYSE has the highest tick close today going back 6months according to stock charts and closed on the high tick of the day. 2 days ago there was the huge intraday tick reading which doesn't forebode well for the market over the next few weeks or months accoring to Cobra via Bespoke.