We are already very overbought on all the charts Anthony. To “work off the overbought conditions” will take several days of hard selling. But the “norm” is to do a “fake out” move before reversing to the other direction. I fully expect them to do a fake out move tomorrow morning but I’d be just as happy if they tank it with a gap down tomorrow morning (unlikely thou…)
It is very obvious the markets are ready to bolt, either upwards or downwards. The markets have been caught in this fairly tight range for the last week. I believe the markets are building up energy here and are ready to make its decision within the next 24 hours. If long or short, make sure you have stops in place. Good luck every one !
i am looking for an up start in the AM, then a down rest of day tomorrow. I don’t think there’s enough dumb money up here to take the markets to much higher. Many traders are waiting for that elusive $600 on Appl, so EOD here will be interesting to see if we get a run close to that
We have Mars Conjunct Pluto, will occur at 3:13 PM EST. tomorrow afternoon. This is the fuse that will light the markets to bring them down from today’s highs.
We are already very overbought on all the charts Anthony. To “work off the overbought conditions” will take several days of hard selling. But the “norm” is to do a “fake out” move before reversing to the other direction. I fully expect them to do a fake out move tomorrow morning but I’d be just as happy if they tank it with a gap down tomorrow morning (unlikely thou…)
Makes you think we might pop considering the chop.. ie working off the overbought conditions
I was sent an Apple FP last week showing 606.50, which could happen with a gap up and crap move tomorrow morning.
Hopefully you are right Bill, with the markets giving a head fake in the morning and heading down. It would be nice to see that Fp from this morning.
It is very obvious the markets are ready to bolt, either upwards or downwards. The markets have been caught in this fairly tight range for the last week. I believe the markets are building up energy here and are ready to make its decision within the next 24 hours. If long or short, make sure you have stops in place. Good luck every one !
i am looking for an up start in the AM, then a down rest of day tomorrow. I don’t think there’s enough dumb money up here to take the markets to much higher. Many traders are waiting for that elusive $600 on Appl, so EOD here will be interesting to see if we get a run close to that
You can win a ball game with base hits. You don’t always need the grand slam.
That could happen in one day Anthony… especially if something shakes some sense into the market.
Yeah- not too sure about 30-40+ points by Friday, but we’ll see
We have Mars Conjunct Pluto, will occur at 3:13 PM EST. tomorrow afternoon. This is the fuse that will light the markets to bring them down from today’s highs.