The market is chopping sideways, which makes a bull flag. However, even if it does popup one more time I don’t think it will hold. I think they took out all the bears’ stops above the 1696-1699 SPX area and all we have left now is bulls getting long. So looking at the charts it says we popup higher from the bull flag. But my guts tells me we are either already done or just one last pop higher and then we’re done.
Again, I’m not expecting much on the downside as they like to keep the bears trapped. But they should trap the bulls too and not give them any real move up to profit from either. Therefore I still see us closing the week around the same level as last week… or about 1690 SPX. Between the rest of today and the close tomorrow I just expect more chop with the slightly down move likely happening in the morning on Friday.
No, 1600 is out. Instead of forming some nice pattern that we can figure out they are chopping up and down is a tight zone for several weeks until they decide to drop it. We’re now in our 3rd or 4th week of this crap. Next week we could see some small cracks start to appear, so I’m leaning toward a slight down week to occur with a possible ramp the last day.
The week after that is when I’m expecting one more exhaustion move up to retest today’s high. It could fall short or pierce it slightly… don’t know which? But somewhere between Monday August 12th to Thursday the 15th I think we’ll see the final top before a 3-4 week decline starts.
That decline should go down and retest the opening price level for the year of 2013, or around 1420-1460 SPX area. Then we should rally into October for Legatus when the final nail in the coffin is put in. The banksters will laundry their stolen money through the Vatican’s secret bank accounts while they are in Rome for their annual raping and eating children festable.
The market will have NO support and will collapse just like they want it to. From there is all down hill in 2014 with the mark of the beast as the expected low by December.
1690 spx area, or about the same level as last weeks’ close on Friday. They’ve hit that area 2 weeks in a row and I think it’s important to them. They seems to swing above it and below it intra-week and go back to it by the close of the week on Friday.
Silver chart update: http://niftychartsandpatterns.blogspot.in/2013/08/silver-chart-update_3.html
VERY IMPORTANT UPDATE being sent out to Newsletter right now. (Time sensitive)
CRUDE Oil resistance levels: http://niftychartsandpatterns.blogspot.in/2013/08/crude-oil-resistance-levels.html
The market is chopping sideways, which makes a bull flag. However, even if it does popup one more time I don’t think it will hold. I think they took out all the bears’ stops above the 1696-1699 SPX area and all we have left now is bulls getting long. So looking at the charts it says we popup higher from the bull flag. But my guts tells me we are either already done or just one last pop higher and then we’re done.
Again, I’m not expecting much on the downside as they like to keep the bears trapped. But they should trap the bulls too and not give them any real move up to profit from either. Therefore I still see us closing the week around the same level as last week… or about 1690 SPX. Between the rest of today and the close tomorrow I just expect more chop with the slightly down move likely happening in the morning on Friday.
GOLD Support levels: http://niftychartsandpatterns.blogspot.in/2013/08/gold-chart-update.html
No, 1600 is out. Instead of forming some nice pattern that we can figure out they are chopping up and down is a tight zone for several weeks until they decide to drop it. We’re now in our 3rd or 4th week of this crap. Next week we could see some small cracks start to appear, so I’m leaning toward a slight down week to occur with a possible ramp the last day.
The week after that is when I’m expecting one more exhaustion move up to retest today’s high. It could fall short or pierce it slightly… don’t know which? But somewhere between Monday August 12th to Thursday the 15th I think we’ll see the final top before a 3-4 week decline starts.
That decline should go down and retest the opening price level for the year of 2013, or around 1420-1460 SPX area. Then we should rally into October for Legatus when the final nail in the coffin is put in. The banksters will laundry their stolen money through the Vatican’s secret bank accounts while they are in Rome for their annual raping and eating children festable.
The market will have NO support and will collapse just like they want it to. From there is all down hill in 2014 with the mark of the beast as the expected low by December.
I saw your video…1600 still in play
1690 spx area, or about the same level as last weeks’ close on Friday. They’ve hit that area 2 weeks in a row and I think it’s important to them. They seems to swing above it and below it intra-week and go back to it by the close of the week on Friday.
Whats your target?
Looks like a small short here into tomorrow and possibly Monday seems wise.