Leo daily chart it is trading below 50 day and 200 day moving average. In weekly chart below 50 week moving average. A bear market and in such a scenario if it decides to fall these support numbers just don't work.
The euro looks ready to dump hard in the chart. It's almost at the zero level on the histograms, and will soon cross into negative territory. Not good for the spx, and overall market if that dumps hard on the euro tomorrow.
great thanks! I think the 112 is out there but stranger things have happened! I am quite convinced we see 1070 print late thursday and that feels like a great short entry with the jobs number on Friday . . . that is the script I am following . . . thanks again for your work!
Yeah… this time is different as we are now below a lot of the moving averages now, where we wasn't back in February. So, I don't know how high we go back up, but I did get an intraday fake print today. It's showing 1070.50 spx.
That one could be the target for opx, and the 1070.50 spx could be for the end of this week… or even tomorrow? Hard to say when, but I think we are going to rally for awhile (choppy though), before another large move down happens (assuming we gap down tomorrow, and then rally into the close?)
QQQQ hit my 43 go long target this morning, so I went long. Dow futures up 28…
Leo daily chart it is trading below 50 day and 200 day moving average. In weekly chart below 50 week moving average. A bear market and in such a scenario if it decides to fall these support numbers just don't work.
Do you have a target area for the spx tomorrow?
1.2110 is the last hope for euro if that breaks surely going back to the recent lows
Wow San…
The euro looks ready to dump hard in the chart. It's almost at the zero level on the histograms, and will soon cross into negative territory. Not good for the spx, and overall market if that dumps hard on the euro tomorrow.
The effect of hidden negative divergence in EUR/USD pair
http://chartsofbreakoutstocks.blogspot.com/2010…
The 200ma on the monthly chart is at 1048.39 spx, so I do expect it to close around that level tomorrow.
great thanks! I think the 112 is out there but stranger things have happened! I am quite convinced we see 1070 print late thursday and that feels like a great short entry with the jobs number on Friday . . . that is the script I am following . . . thanks again for your work!
I think tomorrow will bottom out and close around 1050 area for monthly close.
Yeah… this time is different as we are now below a lot of the moving averages now, where we wasn't back in February. So, I don't know how high we go back up, but I did get an intraday fake print today. It's showing 1070.50 spx.
http://reddragonleo.com/wp-content/uploads/2010…
I also have one from June 23rd showing 112.41 spy…
http://reddragonleo.com/wp-content/uploads/2010…
That one could be the target for opx, and the 1070.50 spx could be for the end of this week… or even tomorrow? Hard to say when, but I think we are going to rally for awhile (choppy though), before another large move down happens (assuming we gap down tomorrow, and then rally into the close?)