Thanks Sundancer. If that is the case, then I will just have to grin and bear it at this point. It will suck to sit through a 3 day weekend after reaching my lowest account balance in a year but so be it.
IYR monthly setup is much like the IWM was last month as it entered it's “slip zone”, the top of the “slip zone” is 55.07 area the bears need to get the IYR in the 46.34 area by Wednesday's close http://www.flickr.com/photos/47091634@N04/44671…
It sure looks good from your chart. Maybe Earl is right that it takes a while for volume to really play out but that would be OK. Meanwhile, it looks at least like it will go higher in the short term.
Looked at $NYMO tonight. Looks most likely to me like the market goes down hard on Monday (we are at similar levels as we were on on the McClellan on Jan 19th and Oct 20 -both tops) and the MACD is clearly below the 0 line. http://stockcharts.com/h-sc/ui?s=$nymo Slightly concerned though that we didn't close below the channel trend line today. Are you saying it would actually not be good for the bears long term if we go down from here?
Thanks Sundancer. If that is the case, then I will just have to grin and bear it at this point. It will suck to sit through a 3 day weekend after reaching my lowest account balance in a year but so be it.
IYR continues to coil on back of it's containment pt. Fridays LOD came right @ containment
http://www.flickr.com/photos/47091634@N04/44671…
IYR monthly setup is much like the IWM was last month as it entered it's “slip zone”, the top of the “slip zone” is 55.07 area
the bears need to get the IYR in the 46.34 area by Wednesday's close
http://www.flickr.com/photos/47091634@N04/44671…
the probability of the $SPX closing below it's open on Monday is slim as indicated by the Stats from up above
it hasn't happened in the last 5 months
looks to me as we are heading for a high the day before the Pi ritual (thursday) and then we're closed on Friday due to the SUN sacrifice ritual
Earl, it's about time. Thank you!
Let's hope those fake prints aren't always right!
Maybe they will shove it down this time!
It sure looks good from your chart. Maybe Earl is right that it takes a while for volume to really play out but that would be OK. Meanwhile, it looks at least like it will go higher in the short term.
Looked at $NYMO tonight. Looks most likely to me like the market goes down hard on Monday (we are at similar levels as we were on on the McClellan on Jan 19th and Oct 20 -both tops) and the MACD is clearly below the 0 line.
http://stockcharts.com/h-sc/ui?s=$nymo
Slightly concerned though that we didn't close below the channel trend line today. Are you saying it would actually not be good for the bears long term if we go down from here?
If you remember my IHS on DRV, you might consider waiting until 8.80; i.e. buy the (alleged) breakout.
Well, DRV is one day removed from the low. Todays candle looks a bit like Mar 19th. A bit.