This is a very, very tight range they have been trading in for several days now. This means to me that the gangsters are taking new short positions and closing out all their longs. We seen this same thing back on 4/27 to 5/2, where they chopped sideways for several days before tanking.
Notice that they put in a long topping tail on 5/1 just before the drop. They maybe doing the same thing here, where they will push it up to the 1419 FP just before they drop the market hard. Too many bears are getting short right now as the gangsters take their time exiting their longs.
These bears need to be taken out just before the sell off and that’s why they will still push this up to the 1419 FP area just before the drop. Of course it doesn’t look like it’s going to happen today, which leaves us to wonder when?
There aren’t anymore ritual “eleven” dates until the 27th of this month. That’s a long time to wait if all they have to do is reach 1419. I guess it’s possible that they sell off for several days next week and then recycle back up into the days prior to the 27th to make that final high.
If they just pullback then the 1375-1385 area seems like the most likely area to stop and turn backup. But today isn’t over yet, so maybe they rally this pig up into the close to hit that FP zone? Stranger things have happened. I don’t think all “highs” are done on ritual days but since today is one, I can’t imagine them doing the high tomorrow or Monday and not on a ritual day.
It doesn’t act like it wants to go up right now Anthony. I’d say that they are going to drag this out until next week from the looks of it. With today’s light volume they should have already made the push higher by now. They might need to sell off some first and then make another attempt later.
From what I see in the short term charts right now (the 4h, 2h, and 60min) both the ES and the SPX have sold off enough on their MACD’s and Histogram Bars to turn back up and push through the current 1400 resistance zone. So, if the bulls get going we could see that happen today.
I think they might reverse the trend, as of late, today, and push up towards the close. At that point, hitting the FP quickly at the open may certainly be realistic
This is a very, very tight range they have been trading in for several days now. This means to me that the gangsters are taking new short positions and closing out all their longs. We seen this same thing back on 4/27 to 5/2, where they chopped sideways for several days before tanking.
Notice that they put in a long topping tail on 5/1 just before the drop. They maybe doing the same thing here, where they will push it up to the 1419 FP just before they drop the market hard. Too many bears are getting short right now as the gangsters take their time exiting their longs.
These bears need to be taken out just before the sell off and that’s why they will still push this up to the 1419 FP area just before the drop. Of course it doesn’t look like it’s going to happen today, which leaves us to wonder when?
There aren’t anymore ritual “eleven” dates until the 27th of this month. That’s a long time to wait if all they have to do is reach 1419. I guess it’s possible that they sell off for several days next week and then recycle back up into the days prior to the 27th to make that final high.
If they just pullback then the 1375-1385 area seems like the most likely area to stop and turn backup. But today isn’t over yet, so maybe they rally this pig up into the close to hit that FP zone? Stranger things have happened. I don’t think all “highs” are done on ritual days but since today is one, I can’t imagine them doing the high tomorrow or Monday and not on a ritual day.
yeah.. figured it would’ve picked up a little more steam by now if they were going that high
It doesn’t act like it wants to go up right now Anthony. I’d say that they are going to drag this out until next week from the looks of it. With today’s light volume they should have already made the push higher by now. They might need to sell off some first and then make another attempt later.
Chop chop chop
Think we’re going to that 1419 area?
From what I see in the short term charts right now (the 4h, 2h, and 60min) both the ES and the SPX have sold off enough on their MACD’s and Histogram Bars to turn back up and push through the current 1400 resistance zone. So, if the bulls get going we could see that happen today.
CSCO Chart update:
http://niftychartsandpatterns.blogspot.in/2012/08/csco-chart-update.html
SILVER Resistance levels:
http://niftychartsandpatterns.blogspot.in/2012/08/silver-resistance-levels.html
good start for a push up tommorrow
http://online.wsj.com/article/SB10000872396390443537404577577932647973186.html
I think they might reverse the trend, as of late, today, and push up towards the close. At that point, hitting the FP quickly at the open may certainly be realistic