Until that 60 minute chart gets overbought, I don't see the selling sticking. The daily is rolling over, but the 60 is trying to move back up. While they are fighting each other, the market is likely to swing back and forth.
Once the 60 peaks, and starts to roll back over, aligning itself with the daily, a big move down will come. Could be tomorrow?
The vix is not moving and the index won't either, options prices are basically flat, on a down day. This is clearly being held up. I am to dumb to cover, but it looks like I should. Simple math used to be add the down and the naz together and you have the spx, not even clse today.
I don't keep track Johnny… but when we finally head in the direction of the FP, they always hit +/- a point or two. The 11800 one might not hit until we have massive inflation kick in?
That could be 2012 or so? While that seems high, by then it might only be equal to 4-5000 because of how the dollar will be devalued by then.
The downside print I expect to hit within 2-4 weeks.
Until that 60 minute chart gets overbought, I don't see the selling sticking. The daily is rolling over, but the 60 is trying to move back up. While they are fighting each other, the market is likely to swing back and forth.
Once the 60 peaks, and starts to roll back over, aligning itself with the daily, a big move down will come. Could be tomorrow?
I have 5 waves down on ES at this AM's low http://screencast.com/t/YzdhNjhiN2Q
The vix is not moving and the index won't either, options prices are basically flat, on a down day. This is clearly being held up. I am to dumb to cover, but it looks like I should. Simple math used to be add the down and the naz together and you have the spx, not even clse today.
From the looks of that chart, tomorrow could look like June 28th did… one big red bar!
S&P 500 daily chart
http://niftychartsandpatterns.blogspot.com/2010…
Great read Pzy5t10…
Thanks for posting it.
Looks like they are trying Jim… but I don't know if they will make it or not?
Are we going to fill this gap today???
LOL Woody…
Looks like the 1075 level was all they could muster up yesterday. At this point that 1080-1085 level seems miles away.
I don't keep track Johnny… but when we finally head in the direction of the FP, they always hit +/- a point or two. The 11800 one might not hit until we have massive inflation kick in?
That could be 2012 or so? While that seems high, by then it might only be equal to 4-5000 because of how the dollar will be devalued by then.
The downside print I expect to hit within 2-4 weeks.