11745 YM sup. Trendline still in place, currently in channel. CNBC saying DOW will break record today. NQ narrowing flag. Watching SMH for direction. Watching INTC to break 20.30 for downside move. Currently choppy trading. TRIN more bearish.
Dont worry about CNBC. I think after lunch it will selloff hard. Short spike ups ie 1348 stop HOD 1350. Edit: note three touches to down trendline on ES.
I think there will be a hell of lot of shorts coming in but even though I am a permabear I will never short the highs. A lot of retail sentiment out there.
The market is holding on preety strong but it has ben up 2 past days ans preety strong days Hope full there should be some sell off but before that there will be a lot of shake up
your right, there's a lot of retail sentiment, everyone hears about the dow making a new record and wants to jump on board. It's almost noon and the probability of going much higher is dwendling. SMH looks like the reverse pattern of yesterday. Maybe a reversal around noon-1pm EST.
The markets seem to be just running out of steam. Tough with this being the final week of the quarter too, and all the public companies wanting to make sure their shares are nice looking for their reports. This can't, and I don't think will, hold out for very long. (I as well am a permabear).
Could this be a blowoff top happening on SPY? The volume is HUGE on this 15 minute bar. (I know it isn't an eMini, but this is my favorite thread and I hate to travel anywhere else for advice). THANKS
Interesting TG Do you watch emini volume as well. Chart doesn't look as bearish to me anymore. I will need some more confirmation in the afternoon.