also a chance we could go up from consolidation here in the 1500 area….. thats because of the exception of the QE3 money, the fed feeding the banks all that free money for worthless mortgage paper….where they gonna put all that doe? the money printing is rediculous…cant see them in tbills or bonds…..so I expect stocks to keep going possibly…..of course, this is all rediculous fakery of the funny money….. but whatever the banksters want, the banksters get
I’m beginning to think the high is in today and we sell off tomorrow…. just like they
did on the October 10th-21st meeting last year. They topped on
Thursday the 18th and started selling early before the meeting ended
Sunday the 21st. Friday the 19th was a nice down day that lasted into
the following week.
Therefore I’ve taken a small short position today. Again, I’m a little hesitant to go short very heavily as there’s still NO catalyst to cause a nice correction. But the failure to get up to the double top zone of 1574 spx before the meeting leaves me to think this is all we are going to get. So, I’m dipping my toes in a little to see what happens…
This is got to be extremely frustrating for both bulls and bears as the market just chops them both to death. Today is the first day of Legatus and we “could” see the selling start tomorrow if the gangsters want out early.
Again, I’m not looking for a huge correction here. I still see a 95% chance of a 1%-2% pullback “if” we hit a double top (1574 spx… not looking likely) by next Monday or Tuesday. Then a 75% chance of a 5% correction and a 50% chance of a 10% correction, with the last week of February being the most likely bottoming area.
Then we should see a rally into May for the final high before we see the first crash wave (with the biggest crash wave in August). The new high should breakthrough the current high and put in an “all time” new high. Likely zone is 1630-1650 spx.
The European indices aren’t look pretty. Pretty much all are hugging their lower BB in a very precarious manner.
11-7 saw sharp turn down.(90 degrees ago) We are also in the vicinity of 2year9months from 5-6-10, or 144 weeks later ie 12×12 and one of Gann’s favorite numbers and 1 year 6 months from 8-8-11.
There’s a high dose of numerology over the next couple of days. Might need to stay up and see what happens overnight in Europe but there is a rate decison by the ECB in the morning. GB has one as well.
A certain little indicator hit -66.69 2 days ago and bounced back to the 0 line today.
also a chance we could go up from consolidation here in the 1500 area….. thats because of the exception of the QE3 money, the fed feeding the banks all that free money for worthless mortgage paper….where they gonna put all that doe? the money printing is rediculous…cant see them in tbills or bonds…..so I expect stocks to keep going possibly…..of course, this is all rediculous fakery of the funny money….. but whatever the banksters want, the banksters get
I’m beginning to think the high is in today and we sell off tomorrow…. just like they
did on the October 10th-21st meeting last year. They topped on
Thursday the 18th and started selling early before the meeting ended
Sunday the 21st. Friday the 19th was a nice down day that lasted into
the following week.
Therefore I’ve taken a small short position today. Again, I’m a little hesitant to go short very heavily as there’s still NO catalyst to cause a nice correction. But the failure to get up to the double top zone of 1574 spx before the meeting leaves me to think this is all we are going to get. So, I’m dipping my toes in a little to see what happens…
CRUDE Oil support and resistance: http://niftychartsandpatterns.blogspot.in/2013/02/crude-oil-support-and-resistance-levels_7.html
This is got to be extremely frustrating for both bulls and bears as the market just chops them both to death. Today is the first day of Legatus and we “could” see the selling start tomorrow if the gangsters want out early.
Again, I’m not looking for a huge correction here. I still see a 95% chance of a 1%-2% pullback “if” we hit a double top (1574 spx… not looking likely) by next Monday or Tuesday. Then a 75% chance of a 5% correction and a 50% chance of a 10% correction, with the last week of February being the most likely bottoming area.
Then we should see a rally into May for the final high before we see the first crash wave (with the biggest crash wave in August). The new high should breakthrough the current high and put in an “all time” new high. Likely zone is 1630-1650 spx.
APPLE Trend update: http://niftychartsandpatterns.blogspot.in/2013/02/apple-trend-update.html
FACEBOOK Chart update: http://niftychartsandpatterns.blogspot.in/2013/02/facebook-chart-analysis.html
The European indices aren’t look pretty. Pretty much all are hugging their lower BB in a very precarious manner.
11-7 saw sharp turn down.(90 degrees ago) We are also in the vicinity of 2year9months from 5-6-10, or 144 weeks later ie 12×12 and one of Gann’s favorite numbers and 1 year 6 months from 8-8-11.
There’s a high dose of numerology over the next couple of days. Might need to stay up and see what happens overnight in Europe but there is a rate decison by the ECB in the morning. GB has one as well.
A certain little indicator hit -66.69 2 days ago and bounced back to the 0 line today.
New brief update sent out about penny stock newsletter…
Isn’t it exciting to be a Bull gang? Almost like watching snail races!
Bank of America Trading range: http://niftychartsandpatterns.blogspot.in/2013/02/bank-of-america-chart-analysis.html