Discussion in 'Trading' started by xtrader, Aug 20, 2002.
SHORT is the direction...
Be nimble be quick
But when the sell stops hit
The market will be sick
weakness with selling to come, the bids will dissipate.
looks like yesterday was the final squeeze
I think we get a decline over the next day or two to about spx 920. Then another big runup to spx 980 to lure in all the suckers.
Then things get really ugly.
Yeah, its a coin flip...We have the 20D breakout long supporting the pullbacks, the longer term resistance shorts coming in and selling if it gets too overbought...Tons of chop in between...SP rallied 22.5% from July 24th low to yesterday's high...NQ rallied 20% and I believe the DOW did about 20% as well...
I think the biggest indicator here is volume. This entire rally since the July lows has been on lower and lower volume. Today wasn't that great either, but yesterday was extremely light.
could consolidate for a final Surge up, or maybe slowly Drift down trapping longs from Monday
"real eyes realise real lies"
I agree...the volume in the es futures, at least, just seems to be apathetic...Before we hit 935 and since we hit 935, I think this is the Make or Break level mainly because it was in the vicinity of those Sept lows....Monday definitely could have trapped some late longs...These late August, no volume upswings are not my favorite
Some stuff may be going up on light vol. simply because there aren't many sellers left. Course the hedge funds will always be on both sides.
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