I'd love to another doji tomorrow and 3 straight down days after that. This bullishness is so overdone. We need a correction badly. We'll see what happens after the bell I guess…
From the looks of the charts, it could be Wednesday before we have another big down day. The 60 minute chart should peak by then, and roll over to the downside.
If tomorrow is another sideways to slightly up day, then that would also be the forming of a bear flag.
Wednesday will also have the Initial Claims, Continuing Claims, PPI, Core PPI, Existing Home Sales, and FHFA Home Price Index.
That's a lot of news which should push the market down… assuming they haven't changed their minds on taking it down.
As for earnings, we have Amazon, Microsoft, American Express, and Capital One on Wednesday.
I'd say that Wednesday will certainly be an important day for the market.
Thanks for the post Red. There was a follow up piece to the Rolling Stone article written in the WSJ about a month after original publication. Wish I saved it.
Even though they punched holes the size of the Icelandic volcano in the article it was still a take down of GS.
It is sad when there is no place to get fact based journalism anymore. Every rag has an agenda. The NYT used to be manna for the gods now it is fish wrap.
be careful of the rogue gap up
SPY currently has 3 consecutive gap downs
I'd love to another doji tomorrow and 3 straight down days after that. This bullishness is so overdone. We need a correction badly. We'll see what happens after the bell I guess…
True. Serge is predicting an IBM miss. If that happens it will be huge. HPQ, CSCO and DELL will crumble like a sand castle!
From the looks of the charts, it could be Wednesday before we have another big down day. The 60 minute chart should peak by then, and roll over to the downside.
If tomorrow is another sideways to slightly up day, then that would also be the forming of a bear flag.
Wednesday will also have the Initial Claims, Continuing Claims, PPI, Core PPI, Existing Home Sales, and FHFA Home Price Index.
That's a lot of news which should push the market down… assuming they haven't changed their minds on taking it down.
As for earnings, we have Amazon, Microsoft, American Express, and Capital One on Wednesday.
I'd say that Wednesday will certainly be an important day for the market.
You were right SC.
Thanks for the post Red. There was a follow up piece to the Rolling Stone article written in the WSJ about a month after original publication. Wish I saved it.
Even though they punched holes the size of the Icelandic volcano in the article it was still a take down of GS.
It is sad when there is no place to get fact based journalism anymore. Every rag has an agenda. The NYT used to be manna for the gods now it is fish wrap.
Again,
Thanks
Carl now says:
My guess is that the ES will drop to 1175 or so, possibly later today or early tomorrow.
1182 currently, so -7 from here.
good read red
Plain and simple GS and other bankstas are nothing but LOW CLASS GANGSTAS!!!
http://hotoptionbabe.com/2010/04/18/earnings-ea…
Oh… Ok, I knew there must have been some reason to be so quiet.