We are moving sideways to up… forming a beautiful bear flag. After the “pop” at the FOMC meeting, the bear flag should play out, and we should see a sell off into the close. Have patience.
I don't know. We bounced right off the daily 20 SMA on most of the indices and to me that is bullish. I would have liked to see us hang around under them for a while, but we literally bounced right off.
During the low volume periods, they have full control of the market. It's during these periods that most rallies occur. The fact that we haven't moved up very far today is very bearish for the market.
Anna thinks we might get a pop on the FOMC meeting at 2:15pm est, and then sell off. I also think we will do some more selling, although I don't know about the “pop” or not.
Either way, the selling is not over. The market is very weak now. It should have rallied a lot higher over the last few hours, especially with the very low volume.
1105 here we come. Still staying short though.
Unbelievable.
Look at all the bids coming in. They are not letting it go down today. We will finish the day with a Doji most likely.
We are moving sideways to up… forming a beautiful bear flag. After the “pop” at the FOMC meeting, the bear flag should play out, and we should see a sell off into the close. Have patience.
Unrelenting. The won't even let it dip
I don't know. We bounced right off the daily 20 SMA on most of the indices and to me that is bullish. I would have liked to see us hang around under them for a while, but we literally bounced right off.
Russell 2000 hourly chart got support from a dragon fly doji
http://niftychartsandpatterns.blogspot.com/2010…
During the low volume periods, they have full control of the market. It's during these periods that most rallies occur. The fact that we haven't moved up very far today is very bearish for the market.
Anna thinks we might get a pop on the FOMC meeting at 2:15pm est, and then sell off. I also think we will do some more selling, although I don't know about the “pop” or not.
Either way, the selling is not over. The market is very weak now. It should have rallied a lot higher over the last few hours, especially with the very low volume.
Been a great ramp job so far on literally no volume. Lowest mid-morning to afternoon in volume in days.
Thanks, I wasn't sure what to expect into and after the meeting. Are you going to pick up more short positions on the “knee jerk pop”?