” so at best I think it will chop around today, and probably needs another intra day low and some sideways action. Also the MACD is so far below zero which is not good”
I have my feeble put. I was about to shoot Presevento and Bam but maybe they are correct. I do remember Pres…. saying that things would start (Might get started June 2 but probably June 4 and ???get going 7&8. So I'm hoping for big downside monday tues
Maybe china tanks, it's near 9500, It's been a while since we've had bad Euro news (execpt Hungary) Euro is in a precarious state, could be forboading bad news soon out of Euroland.
I'm just thinking out loud.
I got what I want, so I'm going to stick with my put which expires in two weeks.
You mean more selling or buying? It's looking like it's about to turn up now, and rally into the close. But, I'm looking for one more low first, around 107.50… gap fill from Tuesday.
Red, Notice how now the vixes are over the 12% range. Even though we are oversold the in and the MACD has some positive divergence the intensity and there for the index changed quickly.
if they move above 15% you will see further escalating pressure.
Matt at Breakpoint trades has this to say about MACD but an hour ago or so………..
The 5 min bear flag played out that I posted … Posted by: matt on the 4th of Jun 2010 at 11:56 am The 5 min bear flag played out that I posted earlier, there is now some positive divergence via the 5 min SPX chart and MACD, although it is a small divergence and it is still early in the day, plus the MAs are far apart from one another, so at best I think it will chop around today, and probably needs another intra day low and some sideways action. Also the MACD is so far below zero which is not good
If the vixes are negative it will be selling
I will not happen until the lows are retested
We need to hit that gap fill at 107.53 spy today, before a big bounce into the close
HUGE sale of SPY, 3 million shares at $107.88. Think that's about it?
Matt and Steve are the founders of Breakpoint
all I can say is what they say below
” so at best I think it will chop around today, and probably needs another intra day low and some sideways action. Also the MACD is so far below zero which is not good”
I have my feeble put. I was about to shoot Presevento and Bam but maybe they are correct. I do remember Pres…. saying that things would start (Might get started June 2 but probably June 4 and ???get going 7&8. So I'm hoping for big downside monday tues
Maybe china tanks, it's near 9500, It's been a while since we've had bad Euro news (execpt Hungary) Euro is in a precarious state, could be forboading bad news soon out of Euroland.
I'm just thinking out loud.
I got what I want, so I'm going to stick with my put which expires in two weeks.
You mean more selling or buying? It's looking like it's about to turn up now, and rally into the close. But, I'm looking for one more low first, around 107.50… gap fill from Tuesday.
Red,
Notice how now the vixes are over the 12% range.
Even though we are oversold the in and the MACD has some positive divergence the intensity and there for the index changed quickly.
if they move above 15% you will see further escalating pressure.
Matt at Breakpoint trades has this to say about MACD but an hour ago or so………..
The 5 min bear flag played out that I posted …
Posted by: matt on the 4th of Jun 2010 at 11:56 am
The 5 min bear flag played out that I posted earlier, there is now some positive divergence via the 5 min SPX chart and MACD, although it is a small divergence and it is still early in the day, plus the MAs are far apart from one another, so at best I think it will chop around today, and probably needs another intra day low and some sideways action. Also the MACD is so far below zero which is not good
Yes Rip,
We are very oversold, and should bounce up soon. I think one more move down to 107.50, and then a rebound into the close.
We have MACD divergence on that last leg. Bullish?