We have low volume right now, but the market can't seem to catch a bid? Not very bullish, in my opinion. Once volume picks up into the close, what's the likelihood it will be buying volume versus selling volume?
Look at the last 4 hourly candles on the ES. Just plain Ugly. Bulls getting smacked in the face with a bear claw everytime they attempt to retake the hourly 10 SMA. Sadly, my stop on SDS was hit when we went up to 1078.
I'd go long at the close if the VIX can't close above 30. It's been flirting with 30 this morning, but hasn't pierced it. Close above 30, and it might bring in more Vix and Put buyers before volitility shoots up even more.
Yeah, we are a falling channel now, and we should bust out at some point… but when? We keep making bear flags, and falling lower. (Not that I'm complaining, as I'm short).
They keep tanking the dollar, but the amount they have to tank it, to squeeze out a small rally, isn't equal to the move down the market makes when the dollar goes up. That tells me the market is still weak right now.
Uh Oh… I see a 1087.75 print on the 5 minute chart of the ES, at 12:50 pm. Do any of you see it?
We have low volume right now, but the market can't seem to catch a bid? Not very bullish, in my opinion. Once volume picks up into the close, what's the likelihood it will be buying volume versus selling volume?
Ford Motor co Triangle breaks out in hourly chart
http://niftychartsandpatterns.blogspot.com/2010…
Look at the last 4 hourly candles on the ES. Just plain Ugly. Bulls getting smacked in the face with a bear claw everytime they attempt to retake the hourly 10 SMA. Sadly, my stop on SDS was hit when we went up to 1078.
I'd go long at the close if the VIX can't close above 30. It's been flirting with 30 this morning, but hasn't pierced it. Close above 30, and it might bring in more Vix and Put buyers before volitility shoots up even more.
There's nothing like bear porn to get me excited. Thanks Dread!
Yesterday's low of 1085.31 needs to be retaken first.
Have a look at the bear porn here:
http://stockcharts.com/def/servlet/Favorites.CS…
I'd say more like 1089-1090. That was support before, it will be resistance now and also happens to be the top of the hourly channel on the SPX.
Vix above 6% so iam a little nervous about my long play. profit at moment but selling momentum is sustaining.
Yeah, we are a falling channel now, and we should bust out at some point… but when? We keep making bear flags, and falling lower. (Not that I'm complaining, as I'm short).
They keep tanking the dollar, but the amount they have to tank it, to squeeze out a small rally, isn't equal to the move down the market makes when the dollar goes up. That tells me the market is still weak right now.