Everyone should keep their eyes on Apple as the gangsters use it to keep the overall market up. They will likely push it up to that 600 level (or try?) as it’s acting like a magnet right now. Of course it will also be huge resistance too, which means that I seriously doubt it will go through it on the first attempt (maybe never?).
If the overall market stumbles and just chops around, not going up in proportion to Apple, then that is a major sign of weakness. It means that too many other stocks in the QQQ, SPY, IWM, DIA, etc… are selling off and Apple can’t keep the market up. That means a top is near and “if” Apple touches that 600 level it’s probably time to short the overall market.
Maybe? I give it 2-3 days to resolve, and then look for it to rollover. Remember, they said yesterday that they aren’t doing another QE program. I think the only people left in the market right now is the retail sheep.
Look at the other evidence to clues… like the dollar still going up and silver and gold going down. They are leading the pack in my opinion and the market will follow soon… meaning it will go down, keeping them insync with each other.
Not much to say about today gang. It should be a “pause” day and not the time to go short. The volume is too low right now, which tells me that the dip buyers will come in and push it back up one more time. This could chop around here all day before rolling over, and it might not roll over today at all. It could take 2-3 days as I said yesterday.
I’m looking for a early morning push up that quickly falls back down within the first hour or less, filling an gap it could have made. Then, assuming all the short term charts are still very overbought, I’d expect a move down the rest of the day… putting in a nice “topping” tail on the daily chart. That should be the start of the coming correction and a safe spot to go short.
We got SPY pushing above the BB and the VIX closing below twice, still within its vertical channel. Never seen anything like it. Good volume, which makes it look like an exhaustion.
Everyone should keep their eyes on Apple as the gangsters use it to keep the overall market up. They will likely push it up to that 600 level (or try?) as it’s acting like a magnet right now. Of course it will also be huge resistance too, which means that I seriously doubt it will go through it on the first attempt (maybe never?).
If the overall market stumbles and just chops around, not going up in proportion to Apple, then that is a major sign of weakness. It means that too many other stocks in the QQQ, SPY, IWM, DIA, etc… are selling off and Apple can’t keep the market up. That means a top is near and “if” Apple touches that 600 level it’s probably time to short the overall market.
Maybe? I give it 2-3 days to resolve, and then look for it to rollover. Remember, they said yesterday that they aren’t doing another QE program. I think the only people left in the market right now is the retail sheep.
Look at the other evidence to clues… like the dollar still going up and silver and gold going down. They are leading the pack in my opinion and the market will follow soon… meaning it will go down, keeping them insync with each other.
beautiful day here, not even watching this snore of a meltup. I think they are going to take it up to 1425.
Not much to say about today gang. It should be a “pause” day and not the time to go short. The volume is too low right now, which tells me that the dip buyers will come in and push it back up one more time. This could chop around here all day before rolling over, and it might not roll over today at all. It could take 2-3 days as I said yesterday.
I’m looking for a early morning push up that quickly falls back down within the first hour or less, filling an gap it could have made. Then, assuming all the short term charts are still very overbought, I’d expect a move down the rest of the day… putting in a nice “topping” tail on the daily chart. That should be the start of the coming correction and a safe spot to go short.
Gold chart analysis:
http://niftychartsandpatterns.blogspot.in/2012/03/gold-chart-analysis.html
ES Trend update:
http://niftychartsandpatterns.blogspot.in/2012/03/es-trend-update_14.html
Going to hold this short all the way up to 1426 spx. That is how much I believe in this bull market of theirs.
I saw some dragon eyes starring at me from above tonight.
http://earthsky.org/tonight/best-venusjupiter-conjunction-in-years-mid-march-2012
thought I best stop in.
they took all my SPY longs tonight. no more to sell to the fools.
unfortunately my shorts bleed, just not as badly.
the things you learn.
(GG)
We got SPY pushing above the BB and the VIX closing below twice, still within its vertical channel. Never seen anything like it. Good volume, which makes it look like an exhaustion.
I guess they can possibly be late fills from yesterday, but it may be two parties just transferring money.