Noticed the 10-12 Howard Nash combo in last night’s Lakers game and I had an Alexander Graham Bell moment. Seen it before but could never put it together. Helps to explain LA….ie To Live and Die in LA…..
Which reminds me I never did put together that 10 to 12 top movie list I mentioned awhile back.
European indices were hammered last night in particular Italy down 3+% and Greece 4%, all pretty much dropping to their lower BBs, at least their ETF versions……Haven’t checked Greece, it was still at recent highs. Euro and crude oil plunged through their lower BBs.
US markets look to have resistance to the downside so far as the proper BB setup isn’t quite there yet. Need to see the 20 day average flatten. The Dow’s BB channel is very constricted with the lower BB still rising.
It should be a day of negative breadth though which will cause a certain little indicator to continue to head south to new multi-week lows.
This move down looks like a wave 4 to me, which means a wave 5 up is still yet come. I’m thinking that we bottom sometime between today and Monday and then turn back up into the first week of March to complete the 5th wave.
I don’t think they will have enough bears short to squeeze for them to take out the all time high of 1574 spx though, but instead we should see a move 10-20 higher then recent 1530 high. So maybe a double top? Who knows but the odds favor the bulls rallying back up one more time.
On another note:
The penny stock I recommended has yet to rally and fell in share price yesterday and today. I still own all my shares and will not sell. I still see a $1.00 to $2.00 minimum on the stock. I can’t say when but this is a longer term investment that will pay off HUGE when they get the gold.
I want everyone to understand that this deal can return anyone in it a huge profit when they get the $3.2 Billion in Gold and Silver. There is a show airing on the Discovery channel this Sunday called Silver Rush, where one company goes down deeper then the Titanic (over 10,000 feet) to get only about $40-$50 Million in Silver, so you can only imagine what $3.2 Billion will do to the stock.
When this stock does move it will move up fast and hard and I’ll be glad I didn’t sell my shares. If and when they get the gold we could a crazy stock price like I mentioned in the newsletter. But for now I’m still holding on to my shares and adding on dips.
Actually, they do show the fake IDs/ Canadian passports of the Argo 6 at the end of the movie just before the credits and the first few list a February 20 or 2-20 date and then they did show a July 5 date for the next few or 75 but I can’t recall the third lot off hand. Might have to see that movie again.
It won’t take much of a drop to get to the lower BB’s for most indices tomorrow so we’ll have to see how things unfold.
Looks like that turn down is here now given hawkish Fed minutes . Will watch closely around Mar 4th for reversal. Big POMO $ today and tomorrow dished out after lunch will quell any plunge though. Thanks for Ali update Red
Noticed the 10-12 Howard Nash combo in last night’s Lakers game and I had an Alexander Graham Bell moment. Seen it before but could never put it together. Helps to explain LA….ie To Live and Die in LA…..
Which reminds me I never did put together that 10 to 12 top movie list I mentioned awhile back.
European indices were hammered last night in particular Italy down 3+% and Greece 4%, all pretty much dropping to their lower BBs, at least their ETF versions……Haven’t checked Greece, it was still at recent highs. Euro and crude oil plunged through their lower BBs.
US markets look to have resistance to the downside so far as the proper BB setup isn’t quite there yet. Need to see the 20 day average flatten. The Dow’s BB channel is very constricted with the lower BB still rising.
It should be a day of negative breadth though which will cause a certain little indicator to continue to head south to new multi-week lows.
Ok gang, here’s what I think is going to happen…
This move down looks like a wave 4 to me, which means a wave 5 up is still yet come. I’m thinking that we bottom sometime between today and Monday and then turn back up into the first week of March to complete the 5th wave.
I don’t think they will have enough bears short to squeeze for them to take out the all time high of 1574 spx though, but instead we should see a move 10-20 higher then recent 1530 high. So maybe a double top? Who knows but the odds favor the bulls rallying back up one more time.
On another note:
The penny stock I recommended has yet to rally and fell in share price yesterday and today. I still own all my shares and will not sell. I still see a $1.00 to $2.00 minimum on the stock. I can’t say when but this is a longer term investment that will pay off HUGE when they get the gold.
I want everyone to understand that this deal can return anyone in it a huge profit when they get the $3.2 Billion in Gold and Silver. There is a show airing on the Discovery channel this Sunday called Silver Rush, where one company goes down deeper then the Titanic (over 10,000 feet) to get only about $40-$50 Million in Silver, so you can only imagine what $3.2 Billion will do to the stock.
When this stock does move it will move up fast and hard and I’ll be glad I didn’t sell my shares. If and when they get the gold we could a crazy stock price like I mentioned in the newsletter. But for now I’m still holding on to my shares and adding on dips.
CRUDE Oil range breakdown: http://niftychartsandpatterns.blogspot.in/2013/02/crude-oil-target-for-breakdown.html
COPPER Chart update: http://niftychartsandpatterns.blogspot.in/2013/02/copper-chart-update.html
Everything5pounds
Actually, they do show the fake IDs/ Canadian passports of the Argo 6 at the end of the movie just before the credits and the first few list a February 20 or 2-20 date and then they did show a July 5 date for the next few or 75 but I can’t recall the third lot off hand. Might have to see that movie again.
It won’t take much of a drop to get to the lower BB’s for most indices tomorrow so we’ll have to see how things unfold.
S&P 500 Analysis after closing bell: http://niftychartsandpatterns.blogspot.in/2013/02/s-500-analysis-after-closing-bell_21.html
Looks like that turn down is here now given hawkish Fed minutes . Will watch closely around Mar 4th for reversal. Big POMO $ today and tomorrow dished out after lunch will quell any plunge though. Thanks for Ali update Red
Certain little indicators did breakout to the downside today, one below a key short term moving average and it’s component to a new multi-week low.
Basically, TD daily bear flips everywhere and this one day off the high.