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EliteThink
Registered: Oct 2002
Posts: 782 |
06-21-12 08:00 PM
Markets are now sitting at their upper ranges from earlier this month. I was expecting this area to be targeted, just not in 1 day. If the higher low is put in, it will be in this zone. Bulls need to hold this area, or a retest of the low will be in the cards.
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S2007S
Registered: Aug 2006
Posts: 13821 |
06-21-12 08:47 PM
Market is crying for more QE, the only way to produce an imaginary economy with fake growth is with more QE from BUBBLE ben bernanke.
So keep it coming, the market will sell off until it finally get what it wants, its become so dependent on these handouts that without them there is no economy and there is no market place.
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EliteThink
Registered: Oct 2002
Posts: 782 |
07-27-12 05:40 PM
Looks like you were right with QE3 rumblings and european bailouts driving the SPX higher yet again.
Looking ahead, the statistically irrelevant Dow 30 is leading the way and the Rut, comp, ndx and DJ 20 are all lagging. Going into August, which has been a really bad month, in fact the worst month of the year has been moving earlier and earlier the last few years, this could be yet another poor Aug showing.
The x factor is the election. Fuel prices will likely drop with the oil reserves being implemented, which may help the economy. The fiscal cliff continues to weigh, and the economy is clearly slowing.
A lower swing high here, will not bode well for technicals, let's see how far up we go this time. Most mesured move technicians are calling for 1404 on the spx. With the lagging confirmation, i'm thinking 1390ish.
All opinions are welcome, good trading.
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hajimow
Registered: Mar 2004
Posts: 2658 |
07-27-12 06:27 PM
If you don't sell 80% of your longs today when SPY is at 138.45, on Monday Italy, Spain, and Greece will make you miserable again.
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failed_trad3r
Registered: Oct 2009
Posts: 1607 |
07-27-12 06:33 PM
Quote from hajimow:
If you don't sell 80% of your longs today when SPY is at 138.45, on Monday Italy, Spain, and Greece will make you miserable again.
We are crashing!! Or should be!!!
WTH IS THIS MANIPULATION
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EliteThink
Registered: Oct 2002
Posts: 782 |
07-30-12 04:38 PM
SPX is at the upper end of the channel, for the fourth time in 2 months. This time it coincides with the decending trendline beginning in 4/12. Since a lower high for the SPX was emphatically negated on Monday, some follow through is expected.
Last week's move from the bottom of the channel to the top of the channel was the most rapid yet. Consequently, there is a new gap near the low of the channel. As markets appear to be weakening, AAPL is showing strength. They must be optimistic in their suit against Samsung.
DJ Trans looks to be showing divergence, greatly lagging this channel move, and developing 2 lower highs at this point. The COMP is also lagging and could initiate a similar stance, along with the RUT. Overall, U.S. markets are shadowing eur/usd more then they statistically have the prior 30 years.
Bottom line opinion is the upper end of the channel holds for another leg down due to the divergence and real and present poor economic situations. QE3 would move all markets higher short term.
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