The G20 members are mostly the same as the members in the Bilderberg group… which is made up of Illuminati people. So yeah, the crooks don't like it when the sheep get upset… and that's why they have to send their pit bulls on them.
I don't know what is going to happen next week, but I really don't see much of a rally on the usual bullish Monday. In fact, I think it would catch a lot of people off guard if it gapped down instead of up.
Right here in Toronto and my stinking office is in the walled security zone, the police have temporary unlimited powers. I was watching the news and now they can arrest anyone for just standing near the fence which happened last night. There is a massive protest crowd(biggest this city has ever seen) headed there right now and the police are getting ready.
I don't know if a big rally is widely expected. Certainly this week's action was anything but bullish, and folks might reflexively expect a relief rally. A gap-and-go for 300 points on Monday would certainly surprise me, but the market surprises me all the time.
All we can do if we want to trade the technicals is mind the market signals (further muddied today by Russell rebalancing … have a gander at some of the index volumes by EOD).
My current interest is mostly the PMs, so I was pretty happy with today and intrigued by the dollar action. I put on a small short hedge near the close on principle. If I had a big equity position, long or short, I would have covered or hedged at least a bit of it. But that's just me.
I think a lot of people are now expecting a rally on Monday and Tuesday. While I won't say it not going to happen, I will say that I don't believe we will go up and put in a right shoulder around 1150.
I think the 1131 high was the right shoulder, and now all we are going to get is a lower higher. Anything is possible of course, but I'm not convinced that Monday will be another 200-300 point gap up rally. Maybe half that, if the G20 summit spins some good news over the weekend?
Yes, I agree. It more then qualifies to be the right shoulder. Everyone is looking for a RS around 1150, and I don't see that possible.
While we could go up some on Monday, possible to 1090-1100, but I don't see it lasting more then one day. Let's also remember where we close at today… 1076.76, and what a little birdy told that a weekly close below 1079, would cause the trading service offered by people at Bloomberg, to inform their 18,000 subscribers to go short.
That should add some selling pressure on Monday, should many of the listen to the advice and start selling. Any rally up should be short lived, IMHO…
Interesting day. Weekly close a big engulfing red candle, not a lot of conviction among the buyers, it seemed.
Still plenty of things to mind if you are short. Today, to my mind, it was the dollar. The dollar made a swing low on Monday which it came close to violating today, with confirming price action in some of the key commods (i.e., energy and metals).
If that swing low is taken out, the reaction in equities might be to the upside.
As was stated by someone else, may the Eggman, I do not believe one can predict the future. But who knows?
My long term thought is that we go down until the Naz touched the flash low as stated earlier.
Do not know if we will bounce first. That will not be hard as all they have to do is poke AAPL and it will fall. This antenna issue may be what they need. The fools on CNBC are claiming its the software. We both know better than that!
FWIW, and this is not a prediction, I do not buy into the H&S theory. If true, then that small bump is the RS and it is a non-congruent pattern.
Well they closed the SP below 1079 on the weekly. Now lets see them create a self fulfilling prophecy. Are things getting dumped afterhours. I don't see anything going on at CME……..
The G20 members are mostly the same as the members in the Bilderberg group… which is made up of Illuminati people. So yeah, the crooks don't like it when the sheep get upset… and that's why they have to send their pit bulls on them.
I don't know what is going to happen next week, but I really don't see much of a rally on the usual bullish Monday. In fact, I think it would catch a lot of people off guard if it gapped down instead of up.
Is the G20 on Saturday, Sunday, or both days?
Right here in Toronto and my stinking office is in the walled security zone, the police have temporary unlimited powers. I was watching the news and now they can arrest anyone for just standing near the fence which happened last night. There is a massive protest crowd(biggest this city has ever seen) headed there right now and the police are getting ready.
Where is “here”? Where you live? …near the G20 summit?
I don't know if a big rally is widely expected. Certainly this week's action was anything but bullish, and folks might reflexively expect a relief rally. A gap-and-go for 300 points on Monday would certainly surprise me, but the market surprises me all the time.
All we can do if we want to trade the technicals is mind the market signals (further muddied today by Russell rebalancing … have a gander at some of the index volumes by EOD).
My current interest is mostly the PMs, so I was pretty happy with today and intrigued by the dollar action. I put on a small short hedge near the close on principle. If I had a big equity position, long or short, I would have covered or hedged at least a bit of it. But that's just me.
Massive protests here for G20 getting very interesting.
Rosa,
I think a lot of people are now expecting a rally on Monday and Tuesday. While I won't say it not going to happen, I will say that I don't believe we will go up and put in a right shoulder around 1150.
I think the 1131 high was the right shoulder, and now all we are going to get is a lower higher. Anything is possible of course, but I'm not convinced that Monday will be another 200-300 point gap up rally. Maybe half that, if the G20 summit spins some good news over the weekend?
Yes, I agree. It more then qualifies to be the right shoulder. Everyone is looking for a RS around 1150, and I don't see that possible.
While we could go up some on Monday, possible to 1090-1100, but I don't see it lasting more then one day. Let's also remember where we close at today… 1076.76, and what a little birdy told that a weekly close below 1079, would cause the trading service offered by people at Bloomberg, to inform their 18,000 subscribers to go short.
That should add some selling pressure on Monday, should many of the listen to the advice and start selling. Any rally up should be short lived, IMHO…
Interesting day. Weekly close a big engulfing red candle, not a lot of conviction among the buyers, it seemed.
Still plenty of things to mind if you are short. Today, to my mind, it was the dollar. The dollar made a swing low on Monday which it came close to violating today, with confirming price action in some of the key commods (i.e., energy and metals).
If that swing low is taken out, the reaction in equities might be to the upside.
Stay safe. Avoid holding OTM front-month options. 😉
Hi Red!
As was stated by someone else, may the Eggman, I do not believe one can predict the future. But who knows?
My long term thought is that we go down until the Naz touched the flash low as stated earlier.
Do not know if we will bounce first. That will not be hard as all they have to do is poke AAPL and it will fall. This antenna issue may be what they need. The fools on CNBC are claiming its the software. We both know better than that!
FWIW, and this is not a prediction, I do not buy into the H&S theory. If true, then that small bump is the RS and it is a non-congruent pattern.
Well they closed the SP below 1079 on the weekly. Now lets see them create a self fulfilling prophecy. Are things getting dumped afterhours. I don't see anything going on at CME……..