futures up 51 midnight…Nikkei up 2%. That figures. Nikkei is rather low. Red, VIX could test 27.5 Monday, 25.5 is the VIX 50 day…The VIX 50 day is where a person could wake up the next day, and see all the stocks red.. Tuesday, looks bad for GLD…PPI report, show energy costs down ( deflation) .
Red, I'm looking at SCCO with interest, FXA stock, used to be PCU. Peru copper..Its right at its 200 day =30.7. A test, above 30.7 and these other stocks should head higher, otherwise, retest of last recent lows. Other FXA stocks, BVN,CLF,FCX, their direction are usually the same as SCCO.. NEM ,GG, etc, are not FXA , they are GLD
FFIV quad top 73-74, SHORT that. 39 p/e, lot's of downside to work with. Red, I don't post very many losing short trades. In the current trend, shorts are getting easier. Use a 74.5 stop
From stockcharts there are many blogs of technical analysis, an ocean of study and ?confusion. It can get super complex out there. Choose your site there are many. I have a lot of homework to do. The site is the following: http://stockcharts.com/def/servlet/Favorites.CS…
For the bears there is a guy named Anthony Allyn who reveals a bearish “diamond” pattern and says the S&P will be down 57 pts by the close Monday!! Atilla style. I hope so. I want to get my 5min Renko charts going. Here's where to find his analysis
They really have done a good job of confusing both the bulls and the bears this time. I see lots of technical charts that look bullish, as well as bearish. It just depends on how you read them I guess?
There is certain no doubt in my mind that they will close out this coming Friday at a level that benefits them the most. Inbetween now and then, I expect a lot of whipsaw action.
I don't know if we will break below 1040 this week or next, but I don't get the feeling that there are very many bears in the market right now. That leads me to believe they will go down again, to lure them in.
Most bears won't jump onboard unless 1040 is taken out, which also leads me to believe they will pierce it this week, and run it back up into Friday… but to what level, I don't know?
Monday could gap up, but it should be quickly sold, as every bull will likely take profits at 1100, and every bear will go short there. I don't see any gap up holding without a lot more bears in the market. And since they squeezed most of them out on Thursday and Friday, that tells me they must take her down to get more back in the market.
As for the TZA purchase, who knows what goes on behind closed doors? Was it really canceled out? Maybe, or maybe not?
Either way, I still see the trend as down. I think some bad news will be released next week, to blame the sell off on. But, we are all just guessing, as no one really knows… (except TPTB of course)
Red, that buying in TZA was about 11am when things were looking very bleak for the bear cause, which cheered me up at the time, but it was later canceled out by selling. Still, TZA held up fairly well for the day despite the bullish outcome.
My gut about this week is that we may see a breakout on Monday, but that it will reverse on Tuesday and head south for a couple of days, or Monday could be a down day all the way. I don't think the low this week will be very low, i.e., something like 1060-1065 so that bears will be unlikely to cover, and I think we'll rally into OEX, but it will be to 1075-1080 where nobody will make any money except the operators.
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futures up 51 midnight…Nikkei up 2%. That figures. Nikkei is rather low.
Red, VIX could test 27.5 Monday, 25.5 is the VIX 50 day…The VIX 50 day is where a person could wake up the next day, and see all the stocks red..
Tuesday, looks bad for GLD…PPI report, show energy costs down ( deflation) .
Looks like they are trying to run the futures higher too Z… Maybe we will get a gap up and crap tomorrow morning?
Red, I'm looking at SCCO with interest, FXA stock, used to be PCU. Peru copper..Its right at its 200 day =30.7. A test, above 30.7 and these other stocks should head higher, otherwise, retest of last recent lows.
Other FXA stocks, BVN,CLF,FCX, their direction are usually the same as SCCO..
NEM ,GG, etc, are not FXA , they are GLD
FFIV quad top 73-74, SHORT that. 39 p/e, lot's of downside to work with.
Red, I don't post very many losing short trades. In the current trend, shorts are getting easier.
Use a 74.5 stop
Nasdaq composite weekly analysis
http://niftychartsandpatterns.blogspot.com/2010…
From stockcharts there are many blogs of technical analysis, an ocean of study and ?confusion. It can get super complex out there. Choose your site there are many. I have a lot of homework to do. The site is the following: http://stockcharts.com/def/servlet/Favorites.CS…
For the bears there is a guy named Anthony Allyn who reveals a bearish “diamond” pattern and says the S&P will be down 57 pts by the close Monday!! Atilla style. I hope so. I want to get my 5min Renko charts going. Here's where to find his analysis
http://stockcharts.com/def/servlet/Favorites.CS…
Anthony Allyn's blog for the bearish case
http://stockcharts.com/def/servlet/Favorites.CS…
http://stockcharts.com/def/servlet/Favorites.CS…
Rip,
They really have done a good job of confusing both the bulls and the bears this time. I see lots of technical charts that look bullish, as well as bearish. It just depends on how you read them I guess?
There is certain no doubt in my mind that they will close out this coming Friday at a level that benefits them the most. Inbetween now and then, I expect a lot of whipsaw action.
I don't know if we will break below 1040 this week or next, but I don't get the feeling that there are very many bears in the market right now. That leads me to believe they will go down again, to lure them in.
Most bears won't jump onboard unless 1040 is taken out, which also leads me to believe they will pierce it this week, and run it back up into Friday… but to what level, I don't know?
Monday could gap up, but it should be quickly sold, as every bull will likely take profits at 1100, and every bear will go short there. I don't see any gap up holding without a lot more bears in the market. And since they squeezed most of them out on Thursday and Friday, that tells me they must take her down to get more back in the market.
As for the TZA purchase, who knows what goes on behind closed doors? Was it really canceled out? Maybe, or maybe not?
Either way, I still see the trend as down. I think some bad news will be released next week, to blame the sell off on. But, we are all just guessing, as no one really knows… (except TPTB of course)
Red, that buying in TZA was about 11am when things were looking very bleak for the bear cause, which cheered me up at the time, but it was later canceled out by selling. Still, TZA held up fairly well for the day despite the bullish outcome.
My gut about this week is that we may see a breakout on Monday, but that it will reverse on Tuesday and head south for a couple of days, or Monday could be a down day all the way. I don't think the low this week will be very low, i.e., something like 1060-1065 so that bears will be unlikely to cover, and I think we'll rally into OEX, but it will be to 1075-1080 where nobody will make any money except the operators.
powershares qqq trust series I weekly analysis
http://niftychartsandpatterns.blogspot.com/2010…