We are VERY, VERY overbought right and every time frame is rolling over. Only the extremely light volume seems to be holding it back from collapsing. We “should” tank Tuesday, but…
They could get the futures oversold by tomorrow morning to keep the down move limited, as then the futures will try to push the market up while the SPX cash will try to go down. Meaning the actual price level won’t have the mojo to drop 20+ points like it really should and instead just fall 5-10 points… and probably chop most of the day while it trys to go back up.
We all know too well how they manipulate the charts to prevent big drops. So while my analysis suggests we’ll drop 20+ points over the next day or I won’t rule out some trickery here until this Greece crap passes. Greece is the wildcard and it can be used to produce some fake out spike up, so I’m cautious here. It just “feels” like they aren’t going to let it drop much regardless of what the charts say.
Yeah, it’s tough. I’ve been there too many times in the past where I traded off news and lost my butt. Now I just day trade and don’t worry so much about trying to catch “The Big Crash”. But I’m still very aware that one is coming.
Whether it’s this Fall or not I don’t know? I’m not as confident on a crash this fall but next June to December of 2016 I’m very, very confident that we’ll start a big crash in that period.
SOOO many angles.
Hard to figure how to trade off it. Been trying to set up for A CRASH which failed to happen so many times.
FYI, had info this week on local stuff that got me scared…HATE hearing local stuff.
I know you follow charts,
FYI, I’m changing to follow more World Wide happenings, games played and using trend lines w/support & resistance.
Look at this chart and can see how they GAP over trendline Monday to shake Long options, then today GAP back over to shake Puts out.
Yeah… I personally think that even if we drop to below that 2040 SPX zone to take out all the bulls’ sell stops that have been long from those multiple hits over the last several months they will stop and reverse back up into mid to late July to make a new all time high again.
I do think they will get up there near 2200 (+/-some) before a final top for this year is seen. Then down in August, and hopefully not the false flag event… but just a nice correction.
We are VERY, VERY overbought right and every time frame is rolling over. Only the extremely light volume seems to be holding it back from collapsing. We “should” tank Tuesday, but…
They could get the futures oversold by tomorrow morning to keep the down move limited, as then the futures will try to push the market up while the SPX cash will try to go down. Meaning the actual price level won’t have the mojo to drop 20+ points like it really should and instead just fall 5-10 points… and probably chop most of the day while it trys to go back up.
We all know too well how they manipulate the charts to prevent big drops. So while my analysis suggests we’ll drop 20+ points over the next day or I won’t rule out some trickery here until this Greece crap passes. Greece is the wildcard and it can be used to produce some fake out spike up, so I’m cautious here. It just “feels” like they aren’t going to let it drop much regardless of what the charts say.
I don’t see and high odds trades today. Just watching and waiting for now.
ES Futures update: http://screencast.com/t/vJdilo3B
Yeah, it’s tough. I’ve been there too many times in the past where I traded off news and lost my butt. Now I just day trade and don’t worry so much about trying to catch “The Big Crash”. But I’m still very aware that one is coming.
Whether it’s this Fall or not I don’t know? I’m not as confident on a crash this fall but next June to December of 2016 I’m very, very confident that we’ll start a big crash in that period.
SOOO many angles.
Hard to figure how to trade off it. Been trying to set up for A CRASH which failed to happen so many times.
FYI, had info this week on local stuff that got me scared…HATE hearing local stuff.
Interesting http://www.amateur-investor.net/AII_Weekend_AnalysisJune_20_15.htm
Looks like a “pause” day. Probably sideways until the close, and then should have some small selling
It’s quite common for them to gap over resistance levels.
I know you follow charts,
FYI, I’m changing to follow more World Wide happenings, games played and using trend lines w/support & resistance.
Look at this chart and can see how they GAP over trendline Monday to shake Long options, then today GAP back over to shake Puts out.
Yeah… I personally think that even if we drop to below that 2040 SPX zone to take out all the bulls’ sell stops that have been long from those multiple hits over the last several months they will stop and reverse back up into mid to late July to make a new all time high again.
I do think they will get up there near 2200 (+/-some) before a final top for this year is seen. Then down in August, and hopefully not the false flag event… but just a nice correction.