Very interesting. When do you think we will see the 600 level? I have said before this will be in Q1. Did Saxon say when 500 wil be hit? I've been away from the market today, and most likley will also miss the **exciting** action tomorrow. BUT, will be back on Friday...when, hopefully we start getting daily ATR > 25
Great... my analysis was on the good side, however... I kept fading my own analysis! New year's resolution: stick to my guns! Currently short @ 885 (jumped the gun ). Will see what the market does once it open up again...
Just because the NYSE has normal hours does not mean that the CME does. Globex is closed all day January 1 and doesn't reopen until 6:00 AM EST January 2.
Hey Decel, sorry buddy but it looks like ES-H9 is going to 897 area overnight. There should be some good resistance there. If shorting ES you gotta be leery of these last hour rallies - there are some big funds that are buying futures & there's even a possiblity the PPT supports futures in the last hour or two of trading. Today I was offering ES at 886.25 but pulled my orders when we entered into the last 75-minutes of trading. I've been steamrolled once or twice before & have since learned my lesson. RESISTANCES, anyone? I'm looking at 897, 919 currently. Best wishes for a new year!
I don't know, have to see how the year progresses first. A newsletter by a guy who nicely predicted this year's disastrous outcome also predicts SPX 600, so I will stick to that....
Warning! New longer term signal!!! Looks like this prediction is not going to happen, and I have just noticed that Metastock has just given a BUY signal, which is overriding the previous signal mentioned in the quote. So the expectation is bullish from now on. Metastock's signal failure rate is very low, about 10-15%, and since it had 6-7 good signals in a row, we were due to have an incorrect one... http://metastocktools.com/MACDH/Dow.png Usually signals don't follow each other in such a short intervals...
Damn, I just realized: Today was T-Day! :eek: I just checked SPY on the daily, it seems that it's been painting a bullish triangle.
Don't forget that we are still within festive times, so I doubt that 1 daily bar would flip us to upside just like that & still below 50 ma.