Boring waste of a day and so far boring after hours. The best news for the bears is that after yesterday’s bull “flip”, they could have ramped it up 200 points today which is what would have been the case back during the golden squeeze days. It looks like the Euro markets also had bull “flips” today. But I have seen these type of flips fail before in last year’s crude oil and silver declines. (flips that occur on a flat close rather than a sharp upspike)
They actually made it easy for a bear flip for tomorrow. Basically any lower close will create one.
The euro made a new low today and hardly bounced and currently in after hours trading is barely hovering above its multi-month low. German and French PMI readings were down sharply and produced a quick drop early in their markets’ trading sessions before the market was saved once again. But a certain little indicator rose again today despite another flattish day and now has almost completely rallied to its 0 line without producing a monster pop other than the expected Monday rally. It now has built up some firepower for a continued downmove.
The indicator finished at -37 on the 37th trading day off the 4-2 high, 7333 days from Bradley’s ode to the ’29’92 date.
Today they are simply making a bull flag while reseting the overbought short term charts. There should be one more pop higher tomorrow morning, but it should fade the rest of the day and put in some type of topping tail on the daily candle. This sets up next Tuesday for a very nice down day.
A lot of nows there…….Hmmmmmm……….similar to KNOWING…….
I did watch the first 25 minutes of Knowing over at youtube last night and I did catch quite a bit of solar imagery there. A movie review should be forthcoming when I finish that movie.
Falling wedge of copper:
http://niftychartsandpatterns.blogspot.in/2012/05/falling-wedge-of-copper.html
SPX Analysis after close:
http://niftychartsandpatterns.blogspot.in/2012/05/s-500-analysis-after-closing-bell_25.html
Boring waste of a day and so far boring after hours. The best news for the bears is that after yesterday’s bull “flip”, they could have ramped it up 200 points today which is what would have been the case back during the golden squeeze days. It looks like the Euro markets also had bull “flips” today. But I have seen these type of flips fail before in last year’s crude oil and silver declines. (flips that occur on a flat close rather than a sharp upspike)
They actually made it easy for a bear flip for tomorrow. Basically any lower close will create one.
The euro made a new low today and hardly bounced and currently in after hours trading is barely hovering above its multi-month low. German and French PMI readings were down sharply and produced a quick drop early in their markets’ trading sessions before the market was saved once again. But a certain little indicator rose again today despite another flattish day and now has almost completely rallied to its 0 line without producing a monster pop other than the expected Monday rally. It now has built up some firepower for a continued downmove.
The indicator finished at -37 on the 37th trading day off the 4-2 high, 7333 days from Bradley’s ode to the ’29’92 date.
Today they are simply making a bull flag while reseting the overbought short term charts. There should be one more pop higher tomorrow morning, but it should fade the rest of the day and put in some type of topping tail on the daily candle. This sets up next Tuesday for a very nice down day.
Nice catch Morpheuz. Here’s the screenshot of it for future reference…
http://screencast.com/t/6MJglTJV
CRUDE OIL Descending channel:
http://niftychartsandpatterns.blogspot.in/2012/05/crude-oil-descending-channel.html
Another 6.66:
http://www.google.com/finance?q=NASDAQ:CECO
EURUSD Violating supporting line:
http://niftychartsandpatterns.blogspot.in/2012/05/eurusd-violating-support-line.html
That’s Moby at 2:28 entering the taxi.
Now that you’re gone,
the sun will be no more
Now so alone
Now that you’re gone,
the sun will be no more.
A lot of nows there…….Hmmmmmm……….similar to KNOWING…….
I did watch the first 25 minutes of Knowing over at youtube last night and I did catch quite a bit of solar imagery there. A movie review should be forthcoming when I finish that movie.