Based on what I’m seeing in the ES Futures chart we “could?” do a similar pattern Wednesday where we open up a little and then go down. However, “if” that happen we should stay down the rest of that day and into Thursday.
It’s sure looking that way now. I was thinking we’d drop back one more time but it “feels” like they now have enough new bears shorting up here that they will be able to do a slow grind higher with small pullbacks along the way.
There is a nice “W” pattern on the market now and if we get a pullback some next week it should make the first leg down of the “V” part, which could be anywhere in the 2075-2085 SPX area. Then we should see a powerful rally up from the right side of the “V” as it breaks out to new highs.
It’s just the opposite of an “MA” pattern, which is bearish while the “WV” is the bullish one. The extremely light volume is just killing the bears. So while I do expect some pullback it might not be as much as the bears would like. I guess we should all know by now that they aren’t going to let that weekly rising trendline from 2011 be broken anytime soon.
we will test 3/2 high and if we break thru it then will see 2175 in a heart beat. the trend is still UP perhaps until July. Sure we may see some pullbacks but up is the trend.
Don’t know about Lindsey? It just seems that ever since I’ve been listening to him his information has been wrong. As for the market they really seem to want 5000 again on the Nasdaq and 2100 on the SPX. Possibly we’ll have one more push higher later today or Monday and then we should top.
Based on what I’m seeing in the ES Futures chart we “could?” do a similar pattern Wednesday where we open up a little and then go down. However, “if” that happen we should stay down the rest of that day and into Thursday.
Not sure if we hold this high or go higher into the close? Looks weak now. Could rollover soon?
Early low looks to be in now or will be with one more retest, then up the rest of today some to lure in the bulls.
Should have a low early here in the morning and then rally later today, then down Wednesday.
The 208 SPY range (+/- .50 cents) seems to be the zone I’d look for this pullback to end.
Possibly we’ll see a “Turn-around Tuesday” at that level?
support now sits at 2086
It’s sure looking that way now. I was thinking we’d drop back one more time but it “feels” like they now have enough new bears shorting up here that they will be able to do a slow grind higher with small pullbacks along the way.
There is a nice “W” pattern on the market now and if we get a pullback some next week it should make the first leg down of the “V” part, which could be anywhere in the 2075-2085 SPX area. Then we should see a powerful rally up from the right side of the “V” as it breaks out to new highs.
It’s just the opposite of an “MA” pattern, which is bearish while the “WV” is the bullish one. The extremely light volume is just killing the bears. So while I do expect some pullback it might not be as much as the bears would like. I guess we should all know by now that they aren’t going to let that weekly rising trendline from 2011 be broken anytime soon.
we will test 3/2 high and if we break thru it then will see 2175 in a heart beat. the trend is still UP perhaps until July. Sure we may see some pullbacks but up is the trend.
Don’t know about Lindsey? It just seems that ever since I’ve been listening to him his information has been wrong. As for the market they really seem to want 5000 again on the Nasdaq and 2100 on the SPX. Possibly we’ll have one more push higher later today or Monday and then we should top.