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S2007S
Registered: Aug 2006
Posts: 13830 |
05-01-12 09:47 PM
Market is expecting around 140-150k new jobs, seems they are stepping away from the 2 handle on monthly job numbers. Should be an interesting close for the week when these numbers come out on Friday.
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EliteThink
Registered: Oct 2002
Posts: 782 |
05-07-12 05:47 PM
It is fairly common for the cash to close the gap on a Monday morning. But this doesn't seem to alleviate, at least some of, the sleeplessness going into Sunday night over worries of a major market drop. Somewhat surprisingly, the es had closed the gap on its own by the cash open. Today's low could conceivably mark a triple bottom before another leg up. I would have expected 1340 to be retested with this move, but it hasn't yet. The Dow actually looks like it could be developing an inverted head and shoulders, with the neckline near 13,000. Internals are actually looking good so far today, with quite a few major trendlines holding. Clearly, if support at spx 1357, dow 12900, and rut 780 breaks, the move will be swift to the downside. In an election year, however, the bet is on the Bernanke put.
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EliteThink
Registered: Oct 2002
Posts: 782 |
05-14-12 05:45 PM
Cash 1340 has been breached but 1335-1340 may be the actual support zone. However, the selling appears orderly. None the less, a move to spx 1300 cannot be outruled as a complex head and shoulders formation looks confirmed. As a whole, most charts are ugly technically, but some, like the comp and aapl, give some indications of support holding.
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murray t turtle
Registered: Dec 2001
Posts: 6268 |
05-14-12 06:33 PM
Quote from EliteThink:
Cash 1340 has been breached but 1335-1340 may be the actual support zone. However, the selling appears orderly. None the less, a move to spx 1300 cannot be outruled as a complex head and shoulders formation looks confirmed. As a whole, most charts are ugly technically, but some, like the comp and aapl, give some indications of support holding.
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Looks like SPY is headed for its 10 year low;
thats a direction, not a destination target.[Sell in may any way]
And since its an election year ;
exspect more chop than usual.None of this is a prediction.
Gold GLD are still uptrending, but i have measured plenty of better up trends that that.
Silver,SLV may get interesting around its 12 mo lows...........;
but 1 yr trend is still down/bearish
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