there's a line that connects 1929 and 87 ,it broke above in 95,start of dot com bubble,acted as support ,in 01/02 end of dot com bubble,start of re bubble and broke below in 08 ,end of re bubble ,start of drop to 666,may or may not be significant, but if this is the beginning of the end of the bernanke bubble,it could act as a target
take a look at TBT chart, interest rates never broke through resistance to the upside, while equities continued to make new highs. I'm looking to get long SPY, when TBT hits support (low 60's). I sold TBT over 80, will look to get long TBT around low 60's or under. I don't believe the dynamics that led us to these levels will stop. The players behind the scenes need equities to continue higher. The printing presses will continue.
keep eye on USD/JPY its acting as a proxy for emerging market weakness. If USD/JPY tests 100 and maintains above then markets are healthy.
yhoo ... could be multiples higher.. one of the most undervalued companies, checkout what its been doing as of late on the chart. Atleast a 5 bagger. (500% return). USD/JPY is at 102, so some room to the downside still. People are looking for 1750 in Spooz... which means we could get close and do 180 as we approach 1765.
give you guys kudos for trading during the low liquidity ES night time. I need to see some good price action movement before I can take trades. Welcome back Kerry.
that would be a bitch as not many people keep any money/cash on them anymore, I don't. All electronic here...