From the open until around 11:30am to Noon is when the largest volume of buying/selling happens… then the last hour of the day. So, if they can’t push this market down into some wave 3 of selling by noon, the odds of a rally from oversold short term charts go up to 80%, while right now I see the odd’s at 60% rally, 40% selloff.
Interesting. I think any scenario would create QE3. If he doesn’t hint at it, the market will likly spike down and they would likely step in to do something. If he does, then we rally, i say, up to right around the games, then they do it after some false flag. Those scenarios, as stated below, would make me believe that video, f the dollar dying, may hold true. Plus, i don’t think they’d devalue the dollar in october without first having qe3
The only chart that worries me is the daily, as it’s could easily continue down. The shorter term charts are oversold and want to rally but the daily could easily go lower. If the low from yesterday breaks then we could see a nasty wave of selling. If it holds then we should see a rally. Tough call right now.
The market traded allow the rising trendlne of support last night and this morning on the ES Futures. It formed a bear flag and is currently breaking down from that flag. However, the short term charts are oversold and curling back up. If they don’t take out the low from yesterday then I think this is a buying opportunity.
this makes more sense to me. I’m thinking we rally up to/maybe above? the FP for the next two-three weeks, right before the games, then a big leg down with some false flag. Then, possibly, qE3. “IF” it plays out as such, I think that “The day the dollar died” video may hold true. Makes no sense to even think about qe4 if it doesn’t play as such… It would be too early for another bailout if QE3 occurred any later… just my thoughts
No surprise that we hit the current low of the day at exactly 11
Quick 5 minute video…
http://screencast.com/t/zOIl55WOaMp
From the open until around 11:30am to Noon is when the largest volume of buying/selling happens… then the last hour of the day. So, if they can’t push this market down into some wave 3 of selling by noon, the odds of a rally from oversold short term charts go up to 80%, while right now I see the odd’s at 60% rally, 40% selloff.
Interesting. I think any scenario would create QE3. If he doesn’t hint at it, the market will likly spike down and they would likely step in to do something. If he does, then we rally, i say, up to right around the games, then they do it after some false flag. Those scenarios, as stated below, would make me believe that video, f the dollar dying, may hold true. Plus, i don’t think they’d devalue the dollar in october without first having qe3
The only chart that worries me is the daily, as it’s could easily continue down. The shorter term charts are oversold and want to rally but the daily could easily go lower. If the low from yesterday breaks then we could see a nasty wave of selling. If it holds then we should see a rally. Tough call right now.
Good morning gang…
The market traded allow the rising trendlne of support last night and this morning on the ES Futures. It formed a bear flag and is currently breaking down from that flag. However, the short term charts are oversold and curling back up. If they don’t take out the low from yesterday then I think this is a buying opportunity.
ES Support levels:
http://niftychartsandpatterns.blogspot.in/2012/07/es-support-levels_11.html
this makes more sense to me. I’m thinking we rally up to/maybe above? the FP for the next two-three weeks, right before the games, then a big leg down with some false flag. Then, possibly, qE3. “IF” it plays out as such, I think that “The day the dollar died” video may hold true. Makes no sense to even think about qe4 if it doesn’t play as such… It would be too early for another bailout if QE3 occurred any later… just my thoughts
Ok, now it’s looking more and more like the low is in… we’ll see.
SPX: http://screencast.com/t/bOERjffZc
ES: http://screencast.com/t/qVd4fa6I4
SPY Support levels:
http://niftychartsandpatterns.blogspot.in/2012/07/spy-support-levels.html