That’s what i’m thinking/hoping. Went short a little early, but with todays close hitting/piercing the fp should be pretty easy. I just hope the drop that follows next week, if they do start on Monday, will be a decent one
There has been too much time chopping around at this level. This means that if they do clear the current resistance zone and actually pierce through the prior 1422 high then there will likely be a short squeeze happen as all the bears that have been getting short over the last 2 weeks have to buy back those positions.
There is a prior high on 05/19/2008 of 1426.63 (closing price) and 1440.24 intraday high. I don’t think they are going to either. If you breakthrough 1422.38 from 04/02/2012, then they will likely trigger that squeeze to 1426 and then 1440… which I believe is now what a lot of bulls are thinking will happen.
There are probably many bears that are currently giving up and turning to bulls about now. While there should still be enough left for a squeeze up to just over the FP I don’t think there’s much more let then that…
Hopefully, the last two weeks have just been a waste. Bought a 138 put a bit ago for next week, friday expiration, so hoping the rollover, if the fp area is the turning point, kicks off with a nice start. At these levels, it won’t take much to do that
Ok, it looks like they will pop it up on Monday the 20th (a daily “eleven” day… not a “yearly”) to hit the FP of 1419 spx. It’s so close right now that it seems crazy that they don’t just push it up 4 points and get it over with.
But, it’s all planned and I’m just guessing on how to figure it out (obviously everyone clearly knows that this market is 100% manipulated as the last 2 weeks of this sideways movement isn’t normal). I haven’t noticed too many “20” days putting in a top but again… I haven’t looked back more then this year.
So, this coming 20th is a daily “eleven” day and then the following Monday the 27th is a yearly eleven day. Odds favor one of these days being the top, and since we are so close to the FP I’d think it will happen this coming Monday the 20th but there’s no guarantee on that of course.
Also, there is no guarantee that the market will turn once the FP is hit, but given the extreme overbought conditions on most all the charts I’d say it will be a turning point. And remember that it’s common to pierce through the FP level slightly before turning (assuming we do turn at the FP and not continue higher… which I do believe will happen).
with the amount of flat days we’ve had for awhile now, i’d be happier if it was just closed. I’m guessing we go down either way next week though. Either they hit the fp and roll over, or they pull back a bit to get the bears in as you stated yesterday
That’s what i’m thinking/hoping. Went short a little early, but with todays close hitting/piercing the fp should be pretty easy. I just hope the drop that follows next week, if they do start on Monday, will be a decent one
There has been too much time chopping around at this level. This means that if they do clear the current resistance zone and actually pierce through the prior 1422 high then there will likely be a short squeeze happen as all the bears that have been getting short over the last 2 weeks have to buy back those positions.
There is a prior high on 05/19/2008 of 1426.63 (closing price) and 1440.24 intraday high. I don’t think they are going to either. If you breakthrough 1422.38 from 04/02/2012, then they will likely trigger that squeeze to 1426 and then 1440… which I believe is now what a lot of bulls are thinking will happen.
There are probably many bears that are currently giving up and turning to bulls about now. While there should still be enough left for a squeeze up to just over the FP I don’t think there’s much more let then that…
“if” 1419-1424ish is the high, they can easily touch that Monday morning at these levels
Silver ascending triangle pattern:
http://niftychartsandpatterns.blogspot.in/2012/08/silver-ascending-triangle.html
Hopefully, the last two weeks have just been a waste. Bought a 138 put a bit ago for next week, friday expiration, so hoping the rollover, if the fp area is the turning point, kicks off with a nice start. At these levels, it won’t take much to do that
manipulate at will, there are no limits
Ok, it looks like they will pop it up on Monday the 20th (a daily “eleven” day… not a “yearly”) to hit the FP of 1419 spx. It’s so close right now that it seems crazy that they don’t just push it up 4 points and get it over with.
But, it’s all planned and I’m just guessing on how to figure it out (obviously everyone clearly knows that this market is 100% manipulated as the last 2 weeks of this sideways movement isn’t normal). I haven’t noticed too many “20” days putting in a top but again… I haven’t looked back more then this year.
So, this coming 20th is a daily “eleven” day and then the following Monday the 27th is a yearly eleven day. Odds favor one of these days being the top, and since we are so close to the FP I’d think it will happen this coming Monday the 20th but there’s no guarantee on that of course.
Also, there is no guarantee that the market will turn once the FP is hit, but given the extreme overbought conditions on most all the charts I’d say it will be a turning point. And remember that it’s common to pierce through the FP level slightly before turning (assuming we do turn at the FP and not continue higher… which I do believe will happen).
Google chart analysis:
http://niftychartsandpatterns.blogspot.in/2012/08/google-chart-analysis.html
I’m not sure what to think of that chart as all earnings can (and are) be manipulated.
with the amount of flat days we’ve had for awhile now, i’d be happier if it was just closed. I’m guessing we go down either way next week though. Either they hit the fp and roll over, or they pull back a bit to get the bears in as you stated yesterday