The daily chart is neutral right now… meaning that it not pushing the market down anymore, or starting to push it up yet either. It's close to rolling back up, and should be there by this Friday.
The 60 is overbought now, and starting to rollover. The 15 is already below the zero line, and could roll back up at any time, or sink lower with the 60 pushing it down.
Market direction is basically unknown right now? A great job's number tomorrow could gap us up, or a bad one could tank us down. Hard to say, but I'm still short.
It's a bear flag on the 15, but a possible bull flag on the 60… don't know yet? But the downward sloping trendline of the 60 chart is still holding the market down for now.
I think everybody and his brother is going to be expecting a run to 1130 but we will clunk our heads on the 200 dma. Or, we will go down to form the right shoulder on the H&S… and never come back, or run to 1130 and drop like a rock. It's difficult to tell.
One thing that is fairly certain is that there should be an opportunity to cover or hedge at 1065, only we may never see it again soon what with the bad employment numbers and all.
At every turn, the market makers check the house, then decide what to do, including another run at 1200. I'm feeling pretty good that bears seem to be in the minority right now.
its about to get interesting!
sounds like 1/2 dozen or 6 the other! i am staying short. thanks red.
Ok gang,
The daily chart is neutral right now… meaning that it not pushing the market down anymore, or starting to push it up yet either. It's close to rolling back up, and should be there by this Friday.
The 60 is overbought now, and starting to rollover. The 15 is already below the zero line, and could roll back up at any time, or sink lower with the 60 pushing it down.
Market direction is basically unknown right now? A great job's number tomorrow could gap us up, or a bad one could tank us down. Hard to say, but I'm still short.
It's a bear flag on the 15, but a possible bull flag on the 60… don't know yet? But the downward sloping trendline of the 60 chart is still holding the market down for now.
Boy, Red, was today's column aptly named!
Waiting to see if the bears have the strength to take out the highs on the shorts on the daily candles. SDS, BGZ, FAZ, DRV, TZA
I think everybody and his brother is going to be expecting a run to 1130 but we will clunk our heads on the 200 dma. Or, we will go down to form the right shoulder on the H&S… and never come back, or run to 1130 and drop like a rock. It's difficult to tell.
One thing that is fairly certain is that there should be an opportunity to cover or hedge at 1065, only we may never see it again soon what with the bad employment numbers and all.
At every turn, the market makers check the house, then decide what to do, including another run at 1200. I'm feeling pretty good that bears seem to be in the minority right now.
bounce is right.
They do Monica they do!! ahahahha
thanks! I wonder if they have fun trading with themselves 🙂
thank you! it's anything but evil 🙂