It took a while... but USD rally has started and significant upside is expected. S&P500 VERY BEARISH WARNING : http://bit.ly/jC0Sau http://bit.ly/j79lD5
Market Volume Explodes To Third Highest Since Flash Crash As FNSR Implodes For Second Time In A Row Tyler Durden's picture Submitted by Tyler Durden on 06/15/2011 16:41 -0400 Stock volume, hiding for so long, finally made an appearance. The all dominating ES, which determines the stock price for virtually every other security in the stock market, surged to 3.7 million shares, the 3rd highest in 2011, with only the post-Fukushima nuclear explosion panic from March, when the Nikkei briefly went bidless, higher, and also the third highest since the Flash Crash days of last May. As reported earilier, now that all support lines have been breached, the next bounce can be expected at around 1,244 or the 200 DMA. Should that be taken out and it will be to make way for Operation Twist 2, we will promptly see the 1,150s once again. After that, we are straight down to Jackson Hole levels. http://www.zerohedge.com/article/ma...d-highest-flash-fnsr-implodes-second-time-row sounds scary enough for you? now keep in mind that this is coming from Zerohedge who would not be able to make a correct market call even if their lives depended on it. what does it mean then? The bottom is likely in! ES back to flat after jerking up a bit AH
EURUSD downtrend and USD uptrend continues and more expected as dollar rally strengthens. Key equity index downtrend on daily chart strengthens. Weekly is bearish/neutral and significant downside expected. Ignore emotional pseudo trader trolls. Due to ignorance and denial they will continue buying all the way down as the market drops. Listen to these clowns at your peril. June 8, 2011 'Key index weekly charts now give bearish signals â the correction gathers momentum. Next S&P500 target is 1222 but that wonât hold. Unfortunately the March 2009 lows will be breached' June 15, 2011 'I now officially declare the USD rally open for business. And the opposite for Euro. Last 1.4230' 'Originally posted Feb 16, 2011 and my opinion has not changed. When DOW/S&P500 correction gathers momentum, I expect: UP ~ USD, various USDXXX currencies, VIX Index DOWN ~ EURUSD, AUDUSD, NZDUSD, GOLD/SILVER, Base metals like COPPER etc, CRUDE OIL' http://stockmarket618.wordpress.com
SPY is holding +0.2%, VIX +4%! Lots of fear here. Tomorrow is quad Witch - maybe the reason. This extra fear with flat/+ market should be good for the coming bounce.
quick update: SPY -0.15%, VIX+12%!!! ***quick tip: if you just sh*t your pants, buy stocks! (a simple rule but works most of the time)
According to the technicals the market's quite oversold but the market can't hold on to a gain for more than a few hours.
another way to look at it. the market is having only it's 2nd down quarter since Mar09. the question is really how sovereign debt effects corporate profits. at some point the state has to increase takes for the mighty rich.
Funny how the market gains over 100% in the worst economical times in history with certain stocks moving up thousands of percent and people question if the market is oversold. Just find it to be hilarious that the SPX is down a whole 7.5% from its highs and the bulls are crying after a 100% rally!!! And the only reason for the rally is because of Bubble ben bernanke, once they stop pumping trillions into the economy maybe we could see a true market place one without manipulation!!!
Yeah, one could say that we are coming off historic lows in terms of valuation. In March 2009 AXP sold for 5 times earnings. The market is flat over 10 years. So everything is relative if you are talking about rate-of-changes. You need valuation measures for the context. Shiller's PE is a good one. In terms of Shiller's PE over the very long term the market is way too expensive. Actually over 100 years there are only 4 short phases when the market was more expensive. 1901, 1929, 1966 and 1998-2000. I always believed that it makes sense that we hit a bottom of under 10 which - at current levels - would impy a S&P500 at 575. That's the point when everybody hates stocks, nobody graduates to go to Wall Street, etc.