I remember this chart that Dreadwin posted awhile back. I forgot who he got it from, but it shows a pattern that if it plays out again, we will have one final high before dropping…
S&P/Nasdaq No change in outlook We feel the upside is limited to S&P 1123 and Nasdaq 1928 Since we exited the S&P around 1200 and Nasdaq around 2005, we are still not in a hurry to go long again However, a close above these levels might change that For now, we are still looking to go long on weakness
Sector There really is nothing more to say about Gold Based on cycles, it is still too early to go long However, until now, we see little weakness based on cycles We will soon will have to decide whether to buy back the long position in Gold which we exited around 1225 last Dec
Dow jones resistance line in daily line chart
http://niftychartsandpatterns.blogspot.com/2010…
I remember this chart that Dreadwin posted awhile back. I forgot who he got it from, but it shows a pattern that if it plays out again, we will have one final high before dropping…
http://reddragonleo.com/wp-content/uploads/2010…
I don't have an updated one, but you get the idea.
Iam picking up a position in VXX at these levels.
I think Monica said the fake print was 24.10 on the VIX, so we still have a little bit more to go.
VIX finally hit 24
Nenner Friday Update:
S&P/Nasdaq
No change in outlook
We feel the upside is limited to S&P 1123 and Nasdaq 1928
Since we exited the S&P around 1200 and Nasdaq around 2005, we are still not in a hurry to go long again
However, a close above these levels might change that
For now, we are still looking to go long on weakness
Sector
There really is nothing more to say about Gold
Based on cycles, it is still too early to go long
However, until now, we see little weakness based on cycles
We will soon will have to decide whether to buy back the long position in Gold which we exited around 1225 last Dec
I think today could be “the” day. Unfortunately, won't be home – busy with the kids and fam until next week.
He has been dead on. I did get nervous and sold all longs yesterday. where he kept a smaller position.
The two doji have me thinking we take a breather down possibly Monday Tuesday after a wild day today.
SPX Chart for you guys and girls …
Hope this helps…is all i see for now..
http://s657.photobucket.com/albums/uu293/bigelk…
Now go nuts and go make some nice green….ALL OF YOU!!!
happy trading 😉
Yeah, I've seen him has a bad run too. It's just the nature of the beast I guess.