A hanging man on the SP weekly. Crude oil closed on its lower BB after opening lower. Euro dropped down to its lower BB. Don’t like the $xeu gap down hollow bar but on the weekly it had a nice fat red bar following the TD bear flip last week so it will be hard to reverse the weekly sell signal (the most likely time a reversal of a bear flip occurs is right after the initial bear flip).
$mib (Italy) dropped down to its lower BB so it looks like the action will be coming out of Italy. EUFN (Euro financials) also dropped to new lows and its lower BB. EMB (Emerging Market Bonds), another very sensitive risk on/risk off indicator also dropped to new lows and the lower BB. JNK had a nice gap down but then rallied putting in a fat hollow bar. But it does look to have put in a nice secondary high a few days ago.
Monday is 3-4……AMOUR with the CD 16-29 presentation……34—7-11…..Need to do a review of that semi sicko film soon. I knew going in what I was going to get with AMOUR and actually the director restrained himself…….somewhat……still needed to see why it keeps getting all sorts of awards….It won Best Foreign film at the Academy Awards while still being nominated for a Best Picture Oscar while winning the Cannes Palm D’Or earlier last year.
Crude oil and the euro are down big again today and probably have pierced their lower BBs. A lot of hollow bars though is scaring me though not on the stock indices. Need to see some negative breadth but haven’t checked so far. Since the market gapped down breadth could still be negative.
I looked at the Fed POMO schedule. Which is the date when the trading desks get the bogus new money, the
Operation Date or the Settlement date. I thought it was the latter but last Wednesdays ramp suggests its
the operation date that we need to pay attention to?
Hard too say for sure as it looks like they are running out of money and might not get up to 1574 this go around, but if we are to see a huge crash we do need a new all time high put in… which might not come until May?
I don’t expect this selling to last too long. Probably within an hour or two I suspect they will have worked off the short term overbought conditions enough to turn it back up and rally into the close… maybe closing flat or slightly down. This looks like some type of B wave down with the last 2 days being the A wave up.
A hanging man on the SP weekly. Crude oil closed on its lower BB after opening lower. Euro dropped down to its lower BB. Don’t like the $xeu gap down hollow bar but on the weekly it had a nice fat red bar following the TD bear flip last week so it will be hard to reverse the weekly sell signal (the most likely time a reversal of a bear flip occurs is right after the initial bear flip).
$mib (Italy) dropped down to its lower BB so it looks like the action will be coming out of Italy. EUFN (Euro financials) also dropped to new lows and its lower BB. EMB (Emerging Market Bonds), another very sensitive risk on/risk off indicator also dropped to new lows and the lower BB. JNK had a nice gap down but then rallied putting in a fat hollow bar. But it does look to have put in a nice secondary high a few days ago.
Monday is 3-4……AMOUR with the CD 16-29 presentation……34—7-11…..Need to do a review of that semi sicko film soon. I knew going in what I was going to get with AMOUR and actually the director restrained himself…….somewhat……still needed to see why it keeps getting all sorts of awards….It won Best Foreign film at the Academy Awards while still being nominated for a Best Picture Oscar while winning the Cannes Palm D’Or earlier last year.
Have a good weekend everyone… I’m expecting a top to finish this 5th wave up next week, so you bears get ready. 🙂
Crude oil and the euro are down big again today and probably have pierced their lower BBs. A lot of hollow bars though is scaring me though not on the stock indices. Need to see some negative breadth but haven’t checked so far. Since the market gapped down breadth could still be negative.
I looked at the Fed POMO schedule. Which is the date when the trading desks get the bogus new money, the
Operation Date or the Settlement date. I thought it was the latter but last Wednesdays ramp suggests its
the operation date that we need to pay attention to?
Sounds good too me Scott, but first they must at least take out the 1530 spx area to complete this 5th wave up. Then we can tank…
COPPER Chart analysis: http://niftychartsandpatterns.blogspot.in/2013/03/copper-chart-analysis.html
So here is what I see … DOW will drop about 500 points in the next week. SnP will see 1425 also.
Hard too say for sure as it looks like they are running out of money and might not get up to 1574 this go around, but if we are to see a huge crash we do need a new all time high put in… which might not come until May?
I don’t expect this selling to last too long. Probably within an hour or two I suspect they will have worked off the short term overbought conditions enough to turn it back up and rally into the close… maybe closing flat or slightly down. This looks like some type of B wave down with the last 2 days being the A wave up.
SILVER Support and Resistance levels: http://niftychartsandpatterns.blogspot.in/2013/03/silver-support-and-resistance-levels.html