It might be a patriotic day tomorrow. Tomorrow is 17-7-6 in the non US dating format. Could be the reason the PATRIOTS have been winning all those Superbowls lately.
XXXXXXX–my original post didn’t make it through.
So far this week looks like the week of June 27th, 2011… and we seem to be tracking that time period fairly well on a week to week basis. The exact day to day movement isn’t exact of course but overall the pattern is similar.
So a lower high (like on July 7th, 2011) could happen again (like this Thursday of Friday) and then a drop next week, bounce back up some the last week of July and fall off a cliff starting the first week of August could be the plan?
That was what happened back in 2011 so I could see a similar pattern happen now in the coming weeks. Of course it might not be exact as it could just drop the next 2 weeks of July like suggested in this chart I got from someone I follow on Twitter.
If it follows that chart then it should bounce into the first 2 weeks of August and then rollover into a nasty crash wave down from there into early September. Of course we have the “possible false flag” day set in the 4th week of August which the gangsters could still make happen… and that should really make the market drop hard!
You all know their favorite saying… “Never let a good crisis go unused” (meaning the overbought market making a well needed correction). So doing a false flag in the middle of a correction is certainly taking advantage of a (technical crisis).
Very overbought now, but we bears know they can make the pig even fatter. Gaps are filled about everywhere now (except the new one’s created today on the upside of course). It’s obviously looking good for the bulls now. Still should pullback but from what level is the question?
If they gap up tomorrow I think it’s a small short for a pullback. If they open flat (or down) then we should rollover and pullback to that 2075-2085 area I think. But a strong gap up means a smaller pullback.
Gaps filled on the SPY and QQQ, but not quite on the SPX and the TVIX. Once filled the odds of a big drop starting this week are 50/50 I think. In fact they will likely change the chart setup to bullish for several weeks if this happens.
However, there’s still likely to be a pullback this week to fill this gap up. Possibly even tomorrow? It’s “Turnaround Tuesday” so it would be a good day to pullback. Plus the charts are very overbought on the short term right now and point to a pullback tomorrow as being the most likely period.
I think one should exit shorts on this pullback (assuming it happens) and re-evaluate. I could see 2075-2085 SPX for this pullback. I’ll check the charts again then to see if the bear case is still intact, but I get the feeling after this pullback they will have aligned the charts bullish.
If these charts turn bullish then we are likely off to new highs in the coming weeks. I’d guess we are going toward 2200 area (+/- 25 points).
NEIN!!! DAS IST MEIN LAND!!!! (not part of my original post)
Well, seasonality wise Friday, next Monday, Tuesday and Wednesday are bearish. It’s certainly been one huge squeeze, that’s for sure.
Gaps up daily!
Fear decreasing BUT still in FEAR gauge side:
http://money.cnn.com/data/fear-and-greed/
Will have to say a little shocked with no more QE input!
REALLY looking forward to reading this weeks CFTC report!
It might be a patriotic day tomorrow. Tomorrow is 17-7-6 in the non US dating format. Could be the reason the PATRIOTS have been winning all those Superbowls lately.
XXXXXXX–my original post didn’t make it through.
So far this week looks like the week of June 27th, 2011… and we seem to be tracking that time period fairly well on a week to week basis. The exact day to day movement isn’t exact of course but overall the pattern is similar.
So a lower high (like on July 7th, 2011) could happen again (like this Thursday of Friday) and then a drop next week, bounce back up some the last week of July and fall off a cliff starting the first week of August could be the plan?
That was what happened back in 2011 so I could see a similar pattern happen now in the coming weeks. Of course it might not be exact as it could just drop the next 2 weeks of July like suggested in this chart I got from someone I follow on Twitter.
https://pbs.twimg.com/media/CJ-FbzjUYAA_vB4.png:large
If it follows that chart then it should bounce into the first 2 weeks of August and then rollover into a nasty crash wave down from there into early September. Of course we have the “possible false flag” day set in the 4th week of August which the gangsters could still make happen… and that should really make the market drop hard!
You all know their favorite saying… “Never let a good crisis go unused” (meaning the overbought market making a well needed correction). So doing a false flag in the middle of a correction is certainly taking advantage of a (technical crisis).
Nothing to add here…. Extremely Overbought! Just waiting and watching for a top.
Moon soon to enter Cancer joining all of the heated activity in there.
SP rallies back to its 50 day average.
Very overbought now, but we bears know they can make the pig even fatter. Gaps are filled about everywhere now (except the new one’s created today on the upside of course). It’s obviously looking good for the bulls now. Still should pullback but from what level is the question?
If they gap up tomorrow I think it’s a small short for a pullback. If they open flat (or down) then we should rollover and pullback to that 2075-2085 area I think. But a strong gap up means a smaller pullback.
Gaps filled on the SPY and QQQ, but not quite on the SPX and the TVIX. Once filled the odds of a big drop starting this week are 50/50 I think. In fact they will likely change the chart setup to bullish for several weeks if this happens.
However, there’s still likely to be a pullback this week to fill this gap up. Possibly even tomorrow? It’s “Turnaround Tuesday” so it would be a good day to pullback. Plus the charts are very overbought on the short term right now and point to a pullback tomorrow as being the most likely period.
I think one should exit shorts on this pullback (assuming it happens) and re-evaluate. I could see 2075-2085 SPX for this pullback. I’ll check the charts again then to see if the bear case is still intact, but I get the feeling after this pullback they will have aligned the charts bullish.
If these charts turn bullish then we are likely off to new highs in the coming weeks. I’d guess we are going toward 2200 area (+/- 25 points).
Trying to pinPoint a channel a little tough, but this is close as I can see.
Putting SPY to around 212.00 area for top area of down channel