If it doesnt make it through 2035 here ill get big again, if it does im done fighting it. Out. Good thing AXP and RLYP are bailing me out cause the ES just owned me.
It does...breakdowns in alot of indicies yesterday...small caps and mid-caps were pretty close to giving back all of last week's rampfest...
i'm out of dow futures at 17270, (went long at 17100), changed into long 2033 es, stop 25 points, i reckon we'll see 2050 possibly today
biotech actually running ahead of the SPX but then gapped two candles down as the ES got to 2035 and paused..biotech pretty much ready to gap down many multiple candles at the slightest SPX hesitation right now
dunno if anyone is interested...but here are my thoughts ( i like to write stuff down). Technically, market tested lows yesterday, couldn't follow through. Lots of space above here to reach 2060+ Fundamentally, no chance of interest rise in Nov or this year. Earnings of companies have been disappointing, but market has largely shrugged them off. If google comes out tonight with better than expected earnings, market will go through the roof. Sentiment remains bullish with market shrugging off Valeant and other possibly dodgy companies i.e. no one cares.
yea but wouldn't a lot of google's stellar earnings be already baked into the market up here at 2036? I got 2040-2043 as upside massive resistance..so where its at now I guess it could chop today and then push one last upward move tomorrow in the am..but I think that would be it last quarter google earnings beat and market soared and then once the goog earnings run faded it dropped and dropped hard. Goog already back up now near its all time highs