I'm back gang, but not happy about it. I had car problems, and instead of making some money working, I paid someone else to tow me home. Real bummer…
On top of that, the market just won't die. Let's review…
On the Bullish side:
It's forming a bull flag now, and could shoot up another 10-15 points at anytime. Light volume is back in the market, and that is usually bullish.
The MACD is rising from oversold conditions and could continue to rise on up, and go into positive territory?
On the Bearish side:
We are at a double top from yesterday, and we now have a necktie of resistance overhead, with the 20 dma, and 50 dma coming even closer today. They could touch each other by tomorrow.
Gold is still rallying, and the dollar isn't selling off. It's kind of forming a bull flag on the daily chart, which is negative for the market.
Oil is still falling and forming a bear flag (kind of?) on the daily chart, which is bad for the market.
Conclusion:
It could go either way at this point? Since the necktie of resistance will be formed tomorrow, the market needs to gap up over the resistance and fulfill the bull flag, which seems like the best way to kill the last bear.
Or, the bull flag fails, and a large sell off happens (unlikely, as I'm always on the wrong side, and I'm short now).
Since the market always seems to do the opposite of I expect it to do… I expect it to gap up tomorrow. Go Bulls.. you low down dirty piece of sh*t mot**r f**k*rer's. $#$&%^^$&**^^*%$@@$%&*%!
LMAO. Your purpose in life is to serve as an example for others, Red. LOL
ha ha Red! I share your sentiment! I am the contra indicator.
I'm back gang, but not happy about it. I had car problems, and instead of making some money working, I paid someone else to tow me home. Real bummer…
On top of that, the market just won't die. Let's review…
On the Bullish side:
It's forming a bull flag now, and could shoot up another 10-15 points at anytime. Light volume is back in the market, and that is usually bullish.
The MACD is rising from oversold conditions and could continue to rise on up, and go into positive territory?
On the Bearish side:
We are at a double top from yesterday, and we now have a necktie of resistance overhead, with the 20 dma, and 50 dma coming even closer today. They could touch each other by tomorrow.
Gold is still rallying, and the dollar isn't selling off. It's kind of forming a bull flag on the daily chart, which is negative for the market.
Oil is still falling and forming a bear flag (kind of?) on the daily chart, which is bad for the market.
Conclusion:
It could go either way at this point? Since the necktie of resistance will be formed tomorrow, the market needs to gap up over the resistance and fulfill the bull flag, which seems like the best way to kill the last bear.
Or, the bull flag fails, and a large sell off happens (unlikely, as I'm always on the wrong side, and I'm short now).
Since the market always seems to do the opposite of I expect it to do… I expect it to gap up tomorrow. Go Bulls.. you low down dirty piece of sh*t mot**r f**k*rer's. $#$&%^^$&**^^*%$@@$%&*%!
If I am reading this right the volume is way down no energy…
thanks
Red, tell me it ain't so, you have turned to the dark side.
Much more upside to come IMO
If this moves alot you have to watch it.
http://stockcharts.com/h-sc/ui?s=iwm&p=D&b=5&g=…
IWM are composed of riskier stocks so if this moves alot others should follow. Q's DIA, SPY etc
I think it failed again. I have it about 1173
Now it looks like we blew through the 50 MA?
You know – you are right. I apologize. But, that means we haven't blown through the 50. The 50 is at 117.42 – our high of the day!