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empee
Registered: Jan 2005
Posts: 1256 |
07-27-12 07:31 PM
Hi,
I know after 50 PTS up in the ES over the last 2 days it sounds ridiculous, but this market is looking more and more unstable. OTOH, maybe its a new regime and indicators I look @ don't work anymore.
Whats everyone else seeing. I'm curious what intraday ES traders are seeing/thinking, or anyone that trades anything other than daily indices.
Plus, with all the bad news being "priced in" Ie FB yesterday and +25 ES today, it looks like a bull market (ie when the market eats all bad news and moves up anyway). Yet, if it is a new bull its out of sync of a lot of my indicators, so perhaps times have changed.
So looking @ the indexes and how they respond to bad news looks very bullish, but the indicators I use look very bearish or/and don't confirm this rally (yet).
Thoughts
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Wide Tailz
Registered: Sep 2011
Posts: 1519 |
07-27-12 07:41 PM
Corrective wave in a down trend, otherwise known as a "B" wave, where the advance has narrow breadth and the price action feels fake, because the fundamentals do not justify the behavior.
In other words, just like June 2011.....
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promagma
Registered: Aug 2004
Posts: 781 |
07-27-12 08:05 PM
Quote from jack hershey:
We are in a Depression;
May be, but when to get short? I am nowhere near to getting short .... thinking Sept. 2015
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nazzdack
Registered: Jul 2004
Posts: 8412 |
07-27-12 08:16 PM
Quote from empee:
----50 POINTS up in the ES over the last 2 days....
----market is looking more and more unstable.
----maybe its a new regime....
----What's everyone else seeing?
----bad news being "priced in"....
----a new bull that's out of sync....
----bad news....bullish....bearish....rally....
1) ?....end of the month "window dressing"? 
2) "Bad" ISM and NFP numbers can bring the market down next week. We'll see.   
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denner
Registered: Aug 2010
Posts: 3269 |
07-27-12 09:28 PM
Quote from promagma:
May be, but when to get short? I am nowhere near to getting short .... thinking Sept. 2015
Realistically, you can find similar chart patterns in the lost decade(s) of Japan, US in the 1930's, etc, etc...
It's also worth mentioning that a "bull market" doesn't double off the lows in 2+ years, especially with an angle of ascent such as that.
Of course, whenever one brings up these inconvenient facts, they are met with utter contempt, so be it. It's just the reality of this fiscal and monetary mess.
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