one big reason the stock are “crashing” is that the Eurozone is sick evidenced by the sick Euro BUT the Euro is rallying close to 500 pips ABOVE yest. low this could be hurting the crash. Hopefully it resumes tomorrow
From the looks of things, we will be overbought on the 15 minute chart soon and should roll back down lower. Don't know the wave count, but being that it is also getting close to 3pm (est), the bewitching hour… I'd say there will be some panic sellers trying to get out of their long positions.
Probably more selling overnight, and gap down in the morning. I do believe that capitulation day will be tomorrow. Once the previous low of 105.00 spy is taking out… it's going to be ugly.
Its going to take some energy to get this to S1 110.49 from here…I dont think so cause its been in the S2 all day…
This looks like we are now completing our wave 4 up (an ABC move), and should be selling off into the close with a wave 5 down next.
http://stockcharts.com/def/servlet/Favorites.CS…
This isn't my chart, but it looks pretty close to correct. With 3pm now here, I expect to see wave 5 down start soon.
Huge buy (?) on SPY, 2.4 million shares at $109.45
or todays move was another 1-2,, at your 1093 would be a good spot for the third wave down
EWE, at what point in SPX if it crosses will you change your mind? I mean bullish. Thanks
one big reason the stock are “crashing” is that the Eurozone is sick evidenced by the sick Euro BUT the Euro is rallying close to 500 pips ABOVE yest. low
this could be hurting the crash. Hopefully it resumes tomorrow
This move up is also to gap window, and many bulls will bail out there.
looks like we are in fact in W.C will prob see 1093 before selling resumes
From the looks of things, we will be overbought on the 15 minute chart soon and should roll back down lower. Don't know the wave count, but being that it is also getting close to 3pm (est), the bewitching hour… I'd say there will be some panic sellers trying to get out of their long positions.
Probably more selling overnight, and gap down in the morning. I do believe that capitulation day will be tomorrow. Once the previous low of 105.00 spy is taking out… it's going to be ugly.
We may just get an intraday bounce like the other day if the EW guy is right.