That's about the best explanation I've heard, for why everything is going up together. I also thought that was really weird. It's all “out of sync”, as that's not the way the market normally behaves.
Something is going on, that's for sure. Not sure if you answer is the main reason, but it makes the most sense at this point.
Thinking outside the box a little… what if the government has sucked in all the local retail money that they can, and decided they need more money in the market, and the only money left was overseas.
How do you get the overseas money to move to America? Simple… turn on HARPP and cause a Volcano to erupt, which doesn't kill anyone, but causes major financial troubles.
Those smart business people will move their money elsewhere. Of course foreign retail trader isn't that smart, so he will leave his money where it's at, and hope their market doesn't go down too far.
Now the America market has new cash, which could be the fuel needed to rally the market above the overhead resistance.
Question is… how much money moved to America, and how much higher will the market be able to rise with it?
June S&P E-mini Futures: Today's range estimate is 1198 – 1210. I still think that the 1180 low ended the correction and that a swing to 1270 is now underway.
1186.25–1207 actual yesterday (20.75 points) 1197.5-1207 range last night (9.5 points) 1198-1210 estimate for today (12 points) 1204 currently, so estimate is -6 to +6 from here (neutral)
the bears now need a marginal new high on the $SPX & $DJI for a potential down-thrust to be deep Why? We're now 8 calendar days into this 4.15 high, the past 3 down-thrusts terminated @ 17 CD, 12 CD, 9 CD.
the bulls are running out of time today is 77 calendar days off 2.5.2010 low the longest thrust of the 03'-07' bull mkt. terminated @ 81 CD. 9.23.2009 high terminated @ 77 CD 1.19.2010 high terminated @ 78 CD
The Euro is taking a beating in after-hours, setting a new low. The $USD is nearing the recent highs at 82.
Treasuries are up, the $USD is up, and equities are up. Oil's been beat up a little off the recent highs (but I think that's next to go up). Normally, all of these things never go up at the same time. The only way that can happen is for massive liquidity coming in to the markets.
I don't think it is the PPT. I think the reason for the levitation in the markets recently is that smart money in Europe is moving to the US markets in some sort of flight-to-more-safety bid. If a volcano was blowing up in the next state over, I'd seriously look at moving my $$$ to some sort of foreign index fund, too.
TNA had a Hold signal today, and was up today, remaining a Hold for tomorrow. The TNA buy was at $56.50. TNA closed at $68.65, up 21.5% since the buy. The candlestick today was a Long White Candlestick (strong buying pressure).
TZA had a Wait (for a signal) today, and was down today, remaining a Wait for tomorrow. The TZA sell price was $6.51. TZA closed today at $5.58, down 14.3% since the sell. The candlestick for today was a Long Black Candlestick (strong selling pressure).
Three recent TZA Buy signals have failed and may perhaps serve as a warning: Buy at $7.33, sell at $7.14 Buy at $7.11, sell at $7.05 Buy at $7.04, sell at $6.51
For that matter, recent TNA Buy signals (until this last one) have also been uninspiring: Buy at $55.36, sell at $55.43 Buy at $55.69, sell at $55.63 Buy at $56.50, up 21.5%
Summary of Positive $RUT based ETFs & a few popular ETFs & stocks (Market positive): +10 Hold: IYR(1x RE, up 3.8%), URE(2x RE, up 7.4%), DRN(3x RE, up 17.1%), QQQQ(up 4.0%), DIA(up 2.1%), UCO (2x oil, down 2.2%), AMZN(up 3.0%), ERX(3x energy, up 9.7%), IWM(1x, up 7.2%), UWM(2x, up 15.0%), TNA(3x, up 21.5%) New Confirmed BUY: AAPL
Transition to Market Positive: -1 Not Very Highly Reliable BUY-IF: GS
Transition to Market Negative: -1 Highly Reliable SELL-IF: SPY
Market Negative: -2 Wait: USO(oil) New Confirmed SELL: GOOG
Comment: Somewhat Bullish overall, Bearish Oil, Bullish $RUT, Bullish Real Estate Action for TNA or TZA for tomorrow: none
I like Daneric's stuff and respect his charting a lot. I try to read his post when I get the chance, and that pretty much sums it up to a “break of the sloping trendline” is the key to a sell off happening.
That area he has in a rectangle box (labeled 16) is of big concern for the bears. If we continue trending sideways for another week, then a breakout to new highs would likely be next.
But, there are several trendlines intersecting right now, from multiple directions, and this area is going to be tough to break. We'll see I guess?
Or maybe at market tops, everything just gets parabolic.
Well Dread…
That's about the best explanation I've heard, for why everything is going up together. I also thought that was really weird. It's all “out of sync”, as that's not the way the market normally behaves.
Something is going on, that's for sure. Not sure if you answer is the main reason, but it makes the most sense at this point.
Thinking outside the box a little… what if the government has sucked in all the local retail money that they can, and decided they need more money in the market, and the only money left was overseas.
How do you get the overseas money to move to America? Simple… turn on HARPP and cause a Volcano to erupt, which doesn't kill anyone, but causes major financial troubles.
Those smart business people will move their money elsewhere. Of course foreign retail trader isn't that smart, so he will leave his money where it's at, and hope their market doesn't go down too far.
Now the America market has new cash, which could be the fuel needed to rally the market above the overhead resistance.
Question is… how much money moved to America, and how much higher will the market be able to rise with it?
Carl’s morning call:
June S&P E-mini Futures: Today's range estimate is 1198 – 1210. I still think that the 1180 low ended the correction and that a swing to 1270 is now underway.
1186.25–1207 actual yesterday (20.75 points)
1197.5-1207 range last night (9.5 points)
1198-1210 estimate for today (12 points)
1204 currently, so estimate is -6 to +6 from here (neutral)
Seems like we should know the direction shortly then.
problems for both the bears & bulls
the bears now need a marginal new high on the $SPX & $DJI for a potential down-thrust to be deep
Why? We're now 8 calendar days into this 4.15 high, the past 3 down-thrusts terminated @ 17 CD, 12 CD, 9 CD.
the bulls are running out of time
today is 77 calendar days off 2.5.2010 low
the longest thrust of the 03'-07' bull mkt. terminated @ 81 CD.
9.23.2009 high terminated @ 77 CD
1.19.2010 high terminated @ 78 CD
I've been thinking…
The Euro is taking a beating in after-hours, setting a new low. The $USD is nearing the recent highs at 82.
Treasuries are up, the $USD is up, and equities are up. Oil's been beat up a little off the recent highs (but I think that's next to go up). Normally, all of these things never go up at the same time. The only way that can happen is for massive liquidity coming in to the markets.
I don't think it is the PPT. I think the reason for the levitation in the markets recently is that smart money in Europe is moving to the US markets in some sort of flight-to-more-safety bid. If a volcano was blowing up in the next state over, I'd seriously look at moving my $$$ to some sort of foreign index fund, too.
Thanks Midas…
I think it's just the market makers playing games, to shake out both the bulls and bears, before they take her down.
Good article.
The Daily view from Americanbulls
TNA had a Hold signal today, and was up today, remaining a Hold for tomorrow. The TNA buy was at $56.50. TNA closed at $68.65, up 21.5% since the buy. The candlestick today was a Long White Candlestick (strong buying pressure).
TZA had a Wait (for a signal) today, and was down today, remaining a Wait for tomorrow. The TZA sell price was $6.51. TZA closed today at $5.58, down 14.3% since the sell. The candlestick for today was a Long Black Candlestick (strong selling pressure).
Three recent TZA Buy signals have failed and may perhaps serve as a warning:
Buy at $7.33, sell at $7.14
Buy at $7.11, sell at $7.05
Buy at $7.04, sell at $6.51
For that matter, recent TNA Buy signals (until this last one) have also been uninspiring:
Buy at $55.36, sell at $55.43
Buy at $55.69, sell at $55.63
Buy at $56.50, up 21.5%
Summary of Positive $RUT based ETFs & a few popular ETFs & stocks (Market positive): +10
Hold: IYR(1x RE, up 3.8%), URE(2x RE, up 7.4%), DRN(3x RE, up 17.1%), QQQQ(up 4.0%), DIA(up 2.1%), UCO (2x oil, down 2.2%), AMZN(up 3.0%), ERX(3x energy, up 9.7%), IWM(1x, up 7.2%), UWM(2x, up 15.0%), TNA(3x, up 21.5%)
New Confirmed BUY: AAPL
Transition to Market Positive: -1
Not Very Highly Reliable BUY-IF: GS
Transition to Market Negative: -1
Highly Reliable SELL-IF: SPY
Market Negative: -2
Wait: USO(oil)
New Confirmed SELL: GOOG
Comment: Somewhat Bullish overall, Bearish Oil, Bullish $RUT, Bullish Real Estate
Action for TNA or TZA for tomorrow: none
Thanks Dread…
I like Daneric's stuff and respect his charting a lot. I try to read his post when I get the chance, and that pretty much sums it up to a “break of the sloping trendline” is the key to a sell off happening.
That area he has in a rectangle box (labeled 16) is of big concern for the bears. If we continue trending sideways for another week, then a breakout to new highs would likely be next.
But, there are several trendlines intersecting right now, from multiple directions, and this area is going to be tough to break. We'll see I guess?