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.
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
ORACLE Sell signals: http://niftychartsandpatterns.blogspot.in/2013/03/oracle-sell-signals.html