Amazing how bullish the ES Futures where yesterday and now they are all just as bearish. Only the SPX Cash is holding back a very large drop. It wants to go up from oversold conditions but the futures are really pushing down hard right now.
Market looks weak this morning. They might have used up all their bull juice last night after hours? Still could go up but not a strong as I seen in the charts yesterday. Better to watch for now.
LOL… “so far” is the keyword there. I don’t see it holding more then 1 or 2 days tops. It depends on how fast and how far it goes up. I still think we’ll rollover again later this week.
Looks like we are going to retest the 204.52 SPY low from the Sunday night futures session.
Amazing how bullish the ES Futures where yesterday and now they are all just as bearish. Only the SPX Cash is holding back a very large drop. It wants to go up from oversold conditions but the futures are really pushing down hard right now.
Market looks weak this morning. They might have used up all their bull juice last night after hours? Still could go up but not a strong as I seen in the charts yesterday. Better to watch for now.
Commercial Traders “High % of the time” point to what going to happen weeks out, that being said they point to be Flat.
http://www.cftc.gov/MarketReports/CommitmentsOfTraders/Index.htm
For next few days, it looks like an upward move, but not a big run as Charts, signals & time point to that.
Here is what I use to see S/R during that time:
http://www.stockta.com/cgi-bin/analysis.pl?symb=SPY&cobrand=&mode=stock
Meaning? Explain your thinking on it as to what the market should do tomorrow… like rally (I’m assuming).
Did you see the “Re-vised weekly CFTC report” they sent out this afternoon?
Funny they give a rare Re-vise on a day/weekend like this.
What a turn from last Thursday report….Commercial Traders are NOW flat on the Short to Long positions!
The big boys are just knocking out some of the bears, before they —–
LOL… “so far” is the keyword there. I don’t see it holding more then 1 or 2 days tops. It depends on how fast and how far it goes up. I still think we’ll rollover again later this week.
Futures sure look to prove your charts “suggest” to be correct!
I could be totally wrong on this as we know how manipulated the market is… but the short term charts “suggest” a big up day tomorrow (Tuesday).