I think staying out may be good right now. Either we make a fairly substantial move down for the next week or so and then bounce back to new highs, or we are near the lows of the day and we go higher for the final top here in the next week. I wish I knew. We have to get to Sundancers containment points on the S&P and IYR I think. Wish we do that sooner rather than later.
June S&P E-mini Futures: Today's range estimate is 1161 – 1175. I think a move to 1200 is underway. First upside target is 1175.
1159 -1170.50 actual yesterday (11.50 points) 1162 (last night's low) 1161-1175 estimate for today (14 points) 1165.50 currently, so estimate is -4.50 to +9.50 from here (bullish)
I started to think that if the market were to topple out, some catalyst would have to be blamed for the market's demise. Look at these two headlines on Yahoo tonight – interesting.
I hope you don't mind the questions but does breaking synergy (based on the higher close today) mean that a longer term top is no longer clear and that after we retest containment we could go even higher?
Bad news in home sales. Guess that means it will be a while before we get to that containment level in the IYR.
That should be some good news for the market bears… if they continue to trade the opposite?
I think staying out may be good right now. Either we make a fairly substantial move down for the next week or so and then bounce back to new highs, or we are near the lows of the day and we go higher for the final top here in the next week. I wish I knew. We have to get to Sundancers containment points on the S&P and IYR I think. Wish we do that sooner rather than later.
problems for the dollar bears…
dollar gapped above 4 containment pts.
the green line is the last line of defense for the dollar bears
http://www.flickr.com/photos/47091634@N04/44600…
If only I was as good a trade…
Carl’s morning call:
June S&P E-mini Futures: Today's range estimate is 1161 – 1175. I think a move to 1200 is underway. First upside target is 1175.
1159 -1170.50 actual yesterday (11.50 points)
1162 (last night's low)
1161-1175 estimate for today (14 points)
1165.50 currently, so estimate is -4.50 to +9.50 from here (bullish)
I started to think that if the market were to topple out, some catalyst would have to be blamed for the market's demise. Look at these two headlines on Yahoo tonight – interesting.
http://news.yahoo.com/s/mcclatchy/20100323/wl_m…
http://news.yahoo.com/s/nm/20100324/wl_nm/us_ir…
I hope you don't mind the questions but does breaking synergy (based on the higher close today) mean that a longer term top is no longer clear and that after we retest containment we could go even higher?
And the 10th anniversary of the dot com bust! Unfortunately though, I don't think the operators are as smart as you!
The Daily view from Americanbulls
TNA has a confirmed BUY signal today. The candlestick today was a White Candlestick (normal buying pressure).
AmericanBulls’ buy price was $55.69 (opening price).
TZA has a confirmed SELL signal today. The candlestick today was a Black Candlestick (normal selling pressure).
AmericanBulls sell price was $7.05 (opening price). While the most recent TZA buy was in place, TZA went from $7.12 to $7.05, down 1%.
Summary of $RUT based ETFs:
Confirmed BUY: IWM (1x), UWM (2x), TNA (3x)
Confirmed SELL: RWM (-1x), TWM (-2x), TZA (-3x)
Action for tomorrow: none