Need help. Will somebody please tell me what is going to happen to my charts tommorrow on the YM and ES. Thanks in advance
Don't these people understand that I am seeing massive divergences on the daily DOW. Not only in MACD, but volume as well. What the hell is wrong with everybody? Scary part is that there is an underlying force pushing up from within.
Let's not forget the double top with massive divergence. This signal only comes around once a year if we are lucky. I'm waiting patiently for a big move down. Took out a second mortgage on the house and went short. Plan on retiring off of this one. Geeezzz. A few tax checks go out, FOMC says nothing of intelligence, retailers are lying, etc. What are people buying? Certainly not value.
I feel sub 9000 before month's end. There has been no real correction to the Spring rally, yet - I expect late May levels to be the ultimate support @ 8750. There is the double top present, there is the no real economic support for this type of recovery speed. I'm with Vision on this one (but not with the 2nd mortgage) - I'll just trade with a bearish bias.
tommorrow? that's easy. It will start with just one uptick. A nervous trend follower will misinterpret that as the beginning of bull move and lift the offer. meanwhile, a scalper who is trying to buy the bid can't get filled and raises his limit a tick. A point and figure trader will then get a buy signal and buy at the market. A bear scalper will then get stopped out and will start to support the bid. A mutual fund will buy some shares on a rumor driving the index up until a 2 minute over 4 ma crosses and the several renegade TA traders will buy, triggering off a blackbox buy stop. This will happen over and over again until the market hits my secret sell limit, and then I don't care what the hell happens.
at a 15 min spx.x cash chart over the past 7 days, see what happened late today, and you will have your answer