I'm pretty lousy at predicting too… but I see a lot more reasons to support a bearish Monday, then I do bullish. That 60 minute chart tells me that Monday isn't going to be bull friendly.
The best thing for the bears is closing about flat today. That leaves the door open for some disaster or false flag to happen over the weekend, to blame the coming sell off on.
This is the Bears chance to take control. It was our ball and we dropped it all week. Sadly if we don't close below the weekly 50 SMA and the VIX closes the week below 30, that is only going to bring more bulls out of the woods and we will rally next week in OPEX.
Everyone please keep your eye open for clues at to where we are stopping next week, before a fast reversal back up into Friday. Make a screenshot if you catch anything.
Next week is going to be tough on bears. I added a TNA position w/ sso to hedge.
looks like I was right unfortunately.
Bears is dead.
I'm pretty lousy at predicting too… but I see a lot more reasons to support a bearish Monday, then I do bullish. That 60 minute chart tells me that Monday isn't going to be bull friendly.
I cant predict, just observe. The 60 is choking. The volume oscillator turned back and the resistance MA have held.
http://www.screencast.com/users/has001u/folders…
I don't know about that Red. This tape right now is looking bad for the bear camp.
Good points.
I think it setting up that stage one for one more push up to a RS. I was hesitant to believe that until yesterday's 270 drive on really nothing.
The best thing for the bears is closing about flat today. That leaves the door open for some disaster or false flag to happen over the weekend, to blame the coming sell off on.
This is the Bears chance to take control. It was our ball and we dropped it all week. Sadly if we don't close below the weekly 50 SMA and the VIX closes the week below 30, that is only going to bring more bulls out of the woods and we will rally next week in OPEX.
Everyone please keep your eye open for clues at to where we are stopping next week, before a fast reversal back up into Friday. Make a screenshot if you catch anything.
I don't blame you Monica…
It's too painful to look at my account right now, but I have even more conviction now that the market will tank next week… especially on Monday.