3309 Drysdale Ct
Edwardsville, IL 62025
Thanks... I jumped on this! Riding up to 2627 on SnP.
USO spike down
Well that didn't happen but if we giddyup we may be able to make
it green and put some more lipstick on this bull...er pig.
If pattern holds we go down one more time to 2582-2583 and then
rally up...let's c.
Looks like the machines are on the same programs as yesterday.
How low did we go before it recovered and ended up ?
Would love to see it chop lower into late afternoon followed by
a big pop to close at 2630. That would be a spectacular
setup... alas we'll probably just chop in the rectangular box that
Steve drew and have to keep guessing over the weekend.
Been getting grinded in the chop. It seems to me we
continue to chop and retest this 2590-2600 resistance.
After a few retests (which I think we've now had over the
past few days) we should break through up to the 61.8 retrace
around 2630 since so many of the moves in the past few months have
gone to the 61.8 ... and no one seems to care that earnings are
going to miss... retail already missed, aaple cutting prices, list
Exited my longs at 2575 (Including NFLX which was awesome-Thank
you!). Also took a short on the SPY and BA at the same time.
This SPY pattern was exactly the 2nd dotted line that Steve
had mapped out so far ... I'm hoping we turn red today in lieu of
turn around Tuesday and then we may chop a little higher through
the week. If we do turn red, what is a good support range on
the S&P on the daily ?
Please let us know how they look in a couple hours, could shape
what we see into the year end.
Thanks - good target.. if not today, maybe tomorrow.
Where is Jan low on QQQs ?
Sometimes ? ;) Initial move down should result in the long
awaited Santa Rally... let's see.
Those shorts from last night are acting right, let's see if they
can continue into the close. MCD, AMD, WYNN...
Very nice charts. I'll be shorting a couple of these on
strength tomorrow but can't chase these down. With the media
now starting to get negative and the VIX now starting to get some
juice (starting is key word) and the overall picture looking so
ripe for a sustained bounce (it's certainly coming but could be 2
weeks out) it seems to me that most are expecting too much from the
Fed. In my opinion, the only thing that starts a sustainable
uptrend now is NO HIKE - If we get that then there's your trigger.
Hike plus a million doves however may be very short lived.
Remember the initial move (30 mins to 2 hrs) after Fed is
likely the opposite for the next day (or 2) anyway. Seems
like max pain would be to catch long chasers and pummel into year
end and get the VIx up to where it belongs.
Over time or before year end ... typically ?
Answer: During the middle of December (these are weekly
Here comes the flash or the 3PM 1065 bounce... Steve, if
we bounce of 1065 where is the daily resistance ?
Covered 2/3 so far, plan to try to cover 80% and hold
20%....depending on whether we drop to 1065...if we do then I
expect a bounce on Monday and will close all.
So much for 1074 support... Euro will face resistance at
1.20. Short of a flashcrash repeat I'm thinking a short
covering rally will start at 3 which will then be sold off again
into the close back to 1073 or 1065. The question then
becomes will Europe do something this weekend...doubt it.
NFLX h&s is starting to look real good...the only strange thing
is the financials holding up. Any thoughts on why GS and
financials are showing relative strength ?
TSX in Canada is closed.
Subscribe to our email list for regular free market updates
as well as a chance to get coupons!