There's nothing positive about today… it's just the charts (60 minute) working off the oversold conditions. We'll sell back off tomorrow (however, we could push up a little more in the morning… but I wouldn't bet on it).
I would like to believe that, but this will be a very positive hammer if this holds, you can toss the bear case to the wind. After the fact someone will show how EW predicted this. I never see EW really working untill after the move is over. I am short and will stay short simply because if we need this much nonsence in the moves there must be a real problem to hide.
A wave 2 or “B” wave back up to 1080 or so, is just what they need to squeeze out the bears that recently got short. I wouldn't be surprised to see an end of the day ramp job.
LOL… always something to pin the rally on (or the crash)!
cnbc says market up on story fed will stop paying interest on reserves to force banks to lend….how much bs is out there that they try and explain it?
They just through another FP of 107.27, which again… could be today's close?
There's nothing positive about today… it's just the charts (60 minute) working off the oversold conditions. We'll sell back off tomorrow (however, we could push up a little more in the morning… but I wouldn't bet on it).
I would like to believe that, but this will be a very positive hammer if this holds, you can toss the bear case to the wind. After the fact someone will show how EW predicted this. I never see EW really working untill after the move is over. I am short and will stay short simply because if we need this much nonsence in the moves there must be a real problem to hide.
Here comes the bear squeeze…
DOW JONES Hourly chart
http://niftychartsandpatterns.blogspot.com/2010…
I see an FP of 106.25 SPY from an hour ago. That could be our closing price?
A wave 2 or “B” wave back up to 1080 or so, is just what they need to squeeze out the bears that recently got short. I wouldn't be surprised to see an end of the day ramp job.
Yeah, but not tooo positive! The bears are looking to enter or add.
CNBC is frustrated over BAC and TXN.
Its fun to watch.
They are clueless.