Oh forgot the full moon occurred just as the markets made their final bolt into the abyss. So the DARK KNIGHT Rises????.
It just occurred to me that the Dark Knight Rises was slighted. Definitely one of the top 2 or 3 films of the year yet it was never nominated for an Academy Award. Much better than some of that dreck that they nominated. A very weak year for movies and with some of its flaws it still was better than about everything other than Argo but it definitely had bigger scope and greater enlightened one subsubtext than Argo.
Hmmm, another top/ turn on a 25th ala the top double five years ago and another more recent Monday the 25th.(one that is dear to my heart)
666 trading days from another big turn on 7-01-10 (711).
A certain little indicator needed to stay negative to keep heading south and the market complied dropping its component to a new multi-week low despite early initial euphoria in the markets.
It looks like it’s the Europeans who got headfaked today and now get to look at a sizeable gap down tomorrow when a multitude of sell signals will be triggered. The ones I mentioned a few days ago other than weekly td which will have to wait until the end of the week for confirmation.
Don’t beat yourself up Bill… very few bears caught this I’d suspect. I was busy working on something else all day and was surprised myself to see it drop so much.
was staring at QQQs 66 at .37-.39 this AM (now at 1.03). almost pulled the trigger, but was visiting family….. i would have sold them a few hours later though and not at the EOD….gotta learn to hold sometimes.
Italy (EWI), Spain (EWP), France (EWQ) with even more ridiculous bars. The first two down well over 5% and the last down 3.99% after opening much higher. I am guessing that the Italian elections ended up mattering after all.
Looks like the Dow opened at a new high today and then put in a massive reversal (mega engulfing) lower. With 200 new highs on the $nyse, putting in a nice little divergence with that indicator. Dow, SP, Dax etc. all attacking their lower BBs which are starting to flare open and the 20 day average starting to turn down.
Well, I wasn’t expecting today’s action after watching Germany open up .95% in the first few minutes of trading last night and with the Nikkei up 2.4%. The EWG (german Etf) chart bar looks utterly ridiculous today.
I was going to call for an imminent bottom in the yen but haven’t looked at the chart yet. It was mimicking the $ssec’s bottoming pattern from a few months ago.
Well, that clearly looks like either a “C wave” down or a “Wave 3” down… and we should have a lower low tomorrow at some point (most likely at the open). When you have a close at the lows there is a 90% chance of a lower low the next day, so odd’s are finally in the bears favor. But, I don’t think this is the start of some large move… unfortunately.
If this level breaks then we could go to 1450 to 1465 area before stopping. This is looking more like a “C wave” down to me, instead of a “B wave” down inside a wave 5 up. The next 10-15 minutes are the key. A close at the low gives us a 90% chance of a lower low tomorrow.
S&P 500 Analysis after close: http://niftychartsandpatterns.blogspot.in/2013/02/s-500-analysis-after-closing-bell_26.html
Oh forgot the full moon occurred just as the markets made their final bolt into the abyss. So the DARK KNIGHT Rises????.
It just occurred to me that the Dark Knight Rises was slighted. Definitely one of the top 2 or 3 films of the year yet it was never nominated for an Academy Award. Much better than some of that dreck that they nominated. A very weak year for movies and with some of its flaws it still was better than about everything other than Argo but it definitely had bigger scope and greater enlightened one subsubtext than Argo.
Hmmm, another top/ turn on a 25th ala the top double five years ago and another more recent Monday the 25th.(one that is dear to my heart)
666 trading days from another big turn on 7-01-10 (711).
A certain little indicator needed to stay negative to keep heading south and the market complied dropping its component to a new multi-week low despite early initial euphoria in the markets.
It looks like it’s the Europeans who got headfaked today and now get to look at a sizeable gap down tomorrow when a multitude of sell signals will be triggered. The ones I mentioned a few days ago other than weekly td which will have to wait until the end of the week for confirmation.
Don’t beat yourself up Bill… very few bears caught this I’d suspect. I was busy working on something else all day and was surprised myself to see it drop so much.
was staring at QQQs 66 at .37-.39 this AM (now at 1.03). almost pulled the trigger, but was visiting family….. i would have sold them a few hours later though and not at the EOD….gotta learn to hold sometimes.
Italy (EWI), Spain (EWP), France (EWQ) with even more ridiculous bars. The first two down well over 5% and the last down 3.99% after opening much higher. I am guessing that the Italian elections ended up mattering after all.
Looks like the Dow opened at a new high today and then put in a massive reversal (mega engulfing) lower. With 200 new highs on the $nyse, putting in a nice little divergence with that indicator. Dow, SP, Dax etc. all attacking their lower BBs which are starting to flare open and the 20 day average starting to turn down.
I’d say a lot of bears are surprised today Geccko…
Well, I wasn’t expecting today’s action after watching Germany open up .95% in the first few minutes of trading last night and with the Nikkei up 2.4%. The EWG (german Etf) chart bar looks utterly ridiculous today.
I was going to call for an imminent bottom in the yen but haven’t looked at the chart yet. It was mimicking the $ssec’s bottoming pattern from a few months ago.
Well, that clearly looks like either a “C wave” down or a “Wave 3” down… and we should have a lower low tomorrow at some point (most likely at the open). When you have a close at the lows there is a 90% chance of a lower low the next day, so odd’s are finally in the bears favor. But, I don’t think this is the start of some large move… unfortunately.
If this level breaks then we could go to 1450 to 1465 area before stopping. This is looking more like a “C wave” down to me, instead of a “B wave” down inside a wave 5 up. The next 10-15 minutes are the key. A close at the low gives us a 90% chance of a lower low tomorrow.