Well, it’s not looking good for the bulls today. But the volume is still light and we’re really not down that much. In fact we should be down 20+ points if the volume was up more and they weren’t holding this up. I getting the feeling that the low for the week will be put in today.
Hmmm… looking at the charts now it appears that the futures got too overbought on the 4h, 2h, and 60 minute charts. This means that the SPX cash and the ES Futures aren’t in agreement and pointing in the same direction. When one is wanting to go down (the ES) and the other wanting to go up (the SPX) we usually have a day with wild swings in both directions and not really going anywhere.
So, I’d stay on the sidelines until this resolves itself and they both align up in the same direction. My thoughts are now that it will be Tuesday before the charts point together again. I suspect that they will point up, but it’s entirely possible that the could point down as well. This is why you don’t want to take any position until both the futures and the cash are in agreement.
1 year 1month 9 days from the 5-01-11 Bin Laden pre-hours spike top. A lot of 9-11s being flashed in the Euro Cup. 29s as well. A lot of 9s scoring period. (or acting bizarre)
Spain (the defending champ and World Cup champ) played Italy to a 1-1 tie today. #11 scored for Italy moments after coming in for whackjob #9. The scoring came in minutes 61 and 64.
Denmark’s #9 took down the Netherlands after the Dutch defense did a parting of the Red Sea for him. Never quite seen that in international soccer.
Bank Holiday in Italy…
http://the2012scenario.com/2012/06/more-on-closure-of-bni-italy/
You couldn’t have been more right about this one.
I was waiting for that SPY FP. It didn’t get there.
Well, it’s not looking good for the bulls today. But the volume is still light and we’re really not down that much. In fact we should be down 20+ points if the volume was up more and they weren’t holding this up. I getting the feeling that the low for the week will be put in today.
Hmmm… looking at the charts now it appears that the futures got too overbought on the 4h, 2h, and 60 minute charts. This means that the SPX cash and the ES Futures aren’t in agreement and pointing in the same direction. When one is wanting to go down (the ES) and the other wanting to go up (the SPX) we usually have a day with wild swings in both directions and not really going anywhere.
So, I’d stay on the sidelines until this resolves itself and they both align up in the same direction. My thoughts are now that it will be Tuesday before the charts point together again. I suspect that they will point up, but it’s entirely possible that the could point down as well. This is why you don’t want to take any position until both the futures and the cash are in agreement.
Thanks Alex… and good to see you here. I had forgot about the 28th being a Bradley Turn date… thanks for reminding me.
Nice update Red. 7/28 is also a Bradley Turn date. (Alex)
Is there supposed to be a link there?
Zimbabwe currecy for all (Spain/euro)
1 year 1month 9 days from the 5-01-11 Bin Laden pre-hours spike top. A lot of 9-11s being flashed in the Euro Cup. 29s as well. A lot of 9s scoring period. (or acting bizarre)
Spain (the defending champ and World Cup champ) played Italy to a 1-1 tie today. #11 scored for Italy moments after coming in for whackjob #9. The scoring came in minutes 61 and 64.
Denmark’s #9 took down the Netherlands after the Dutch defense did a parting of the Red Sea for him. Never quite seen that in international soccer.