China was down 3% last night and obviously this is spilling over into the commodity plays. I've noticed some incredibly light volumes in individual names today . . . My favorite stock is only trading 345,000 shares with 2 hours left in the session. This stock normally trades an even ONE MILLION every day.
I imagine the bears will see the whole pattern from the 10:20 low(est) till around now as part of a Triangle... Seems too "nice" of a set up for the bears on a friday afternoon...? would trap enough for the usual friday mischief....
Hee hee hee. Always time for a nice good "squeeze" "Bloggers" foaming at the mouth looking for (3) to the downside to develop before the close, for sure.
Fall below the red lines was really bad :eek: . We got two confirmed "M" patterns and another BIG one is in store . A measured move DOWN, or down to the foot of the "BIG M" pattern .
Getting close to that first eyeball 1:1 around 998.5... http://www.elitetrader.com/vb/attachment.php?s=&postid=2541234 Needs to get through that if they really want to squeeze to that 1003 area.... the altenate is...if they can not get through that 1:1 then that 988 larger degree 1:1 area becomes "live" again
The 13th wave may be a thirteenth wave failure :eek: . This may be the fourth time that the RSI cut 70% line down . MACD also cut the trigger line DOWN What is the implication ? Note: Round bottom in SPX one day chart.
covered my remaining long at 997.75.... ready to start the weekend and cant wait any longer. Hope everyone has a good one!
Have a good one KB ! Still holding those lesser alts (into a 50%) and we know what that means.... 1001to1003 anyone? 10min ES