“I don’t understand politics, so right now all I can say are since year 2000, whenever SPY rose more than 1% while QQQQ closed in red like today, short SPY at today’s close and cover 2 days later at close, there’s 85% chances that you could gain 2.84% in average.”
Odds are clearly in favor of the bears right now. Just have to be patience a little longer.
The market is certainly being stubborn right now, as it should be rolling over faster, instead of forming a small bull flag. The last hour of the day will us if these bulls really want to go higher or not.
Here's my guess – we ramp higher in equities to fill that vix gap, then we head lower into the close, ending at 1052 (futures overnight low). In the morning we gap down and head into the abyss. This will be the way to torture the most people.
Bears just won an important little battle to keep SPX under a 2 hour ema.
I think it's going to suck to be a bull rest of the day.
Cobra posted this comment on yesterdays' post…
“I don’t understand politics, so right now all I can say are since year 2000, whenever SPY rose more than 1% while QQQQ closed in red like today, short SPY at today’s close and cover 2 days later at close, there’s 85% chances that you could gain 2.84% in average.”
Odds are clearly in favor of the bears right now. Just have to be patience a little longer.
citigroups multi week triangle consolidation
http://niftychartsandpatterns.blogspot.com/2010…
The market is certainly being stubborn right now, as it should be rolling over faster, instead of forming a small bull flag. The last hour of the day will us if these bulls really want to go higher or not.
isn't a bull flag forming on the 5min emini s&p?
sp 500 resistance line and fibonacci levels
http://niftychartsandpatterns.blogspot.com/2010…
I suppose we would have to go up another 100 DJIA points or so to fill that VIX gap. Argh!
Just wish I waited to get short but hindsight is always 20/20!
I like the way you're thinking 🙂
Here's my guess – we ramp higher in equities to fill that vix gap, then we head lower into the close, ending at 1052 (futures overnight low). In the morning we gap down and head into the abyss. This will be the way to torture the most people.