Yeah, I think the move today was a stairstep move down, with a big sell off coming late today or tomorrow. I think this will be a wave 3 of 3 or something like that?
Should see tall red pretty soon, I think.
The dollar is at a double top now, and if it can break above it, we could see more selling into the EOD.
Thanks Diablos…
You and Anna must be using Think of Swim, as she seen it too… but I didn't. Different platforms I guess?
Looks like we were close enough as we tagged 114.19 just a little bit ago. Keep your eye's open for more.
If it goes back up to 114.25, then it will be a nice bear flag pattern, and we should drop into the close.
http://www.screencast.com/users/Annamall2/folde…
Anna seen another fake print of 114.25… yet I don't see it? Frustrating how they show up on some charting platforms, and not on others.
If we back test that level, it will be perfect with a backtest of the downward sloping trendline on the chart I showed on this post above.
SPY falsie to 114.25
Anna caught a fake print this morning at 113.32 spy, and we just hit it exactly at noon (est). The bottom might be in for today?
It does match up with the 15 minute chart, as it's acting like it wants to roll back up now.
VIX has broken out according to my reckoning.
If the bears penetrate 1130, we look to be in very good shape.
Yeah, I think the move today was a stairstep move down, with a big sell off coming late today or tomorrow. I think this will be a wave 3 of 3 or something like that?
Should see tall red pretty soon, I think.
The dollar is at a double top now, and if it can break above it, we could see more selling into the EOD.
Thanks Diablos…
You and Anna must be using Think of Swim, as she seen it too… but I didn't. Different platforms I guess?
Looks like we were close enough as we tagged 114.19 just a little bit ago. Keep your eye's open for more.
If it goes back up to 114.25, then it will be a nice bear flag pattern, and we should drop into the close.
http://www.screencast.com/users/Annamall2/folde…
Anna seen another fake print of 114.25… yet I don't see it? Frustrating how they show up on some charting platforms, and not on others.
If we back test that level, it will be perfect with a backtest of the downward sloping trendline on the chart I showed on this post above.
SPY falsie to 114.25
Anna caught a fake print this morning at 113.32 spy, and we just hit it exactly at noon (est). The bottom might be in for today?
It does match up with the 15 minute chart, as it's acting like it wants to roll back up now.
VIX has broken out according to my reckoning.
If the bears penetrate 1130, we look to be in very good shape.