I've been tracking that wedge the entire session, Steve -- I
haven't seen any signs of a bottom yet but this market is extremely
oversold on my intraday charts. The indexes may not manage a bounce
into the close today but I wouldn't be surprised to see some upside
next week.
as I recall almost all e-wavers will now say wave 3 of 3 is
happening and is now CONFIRMED!!
Market reminds me of the story of the Thressher...a US submarine
that imploded and sank will all hands on board so fast they didn't
have time for a mayday.
True ... the SPY and RUT can't print a green bar -- this
indicates panic to me. I've found that cooler heads and deeper
pockets will exploit panic every time it happens.
SPX 5
Posted by steve on 4th of Jun 2010 at 02:06 pm
Symmetry is still bearish but the SPX could be forming a falling wedge. No willing buyers here as yet.
Steve I guess it fell
Posted by cspirit on 4th of Jun 2010 at 03:04 pm
Steve I guess it fell to bottom and then some :)
I've been tracking that wedge
Posted by radrian on 4th of Jun 2010 at 02:43 pm
I've been tracking that wedge the entire session, Steve -- I haven't seen any signs of a bottom yet but this market is extremely oversold on my intraday charts. The indexes may not manage a bounce into the close today but I wouldn't be surprised to see some upside next week.
Here comes the flash or
Posted by deep on 4th of Jun 2010 at 02:54 pm
Here comes the flash or the 3PM 1065 bounce... Steve, if we bounce of 1065 where is the daily resistance ?
Daily Resistance? Heck, we need
Posted by steve on 4th of Jun 2010 at 02:58 pm
Daily Resistance? Heck, we need to clear 5 and 15 minute resistance first.
Symmetry is BEARISH
SPX broke 1065
Posted by perthx on 4th of Jun 2010 at 02:58 pm
as I recall almost all e-wavers will now say wave 3 of 3 is happening and is now CONFIRMED!!
Market reminds me of the story of the Thressher...a US submarine that imploded and sank will all hands on board so fast they didn't have time for a mayday.
No willing buyers as symmetry
Posted by steve on 4th of Jun 2010 at 02:49 pm
No willing buyers as symmetry remains BEARISH for now.
True ... the SPY and
Posted by radrian on 4th of Jun 2010 at 02:57 pm
True ... the SPY and RUT can't print a green bar -- this indicates panic to me. I've found that cooler heads and deeper pockets will exploit panic every time it happens.
FXE new LOD. I had a
Posted by dylan398 on 4th of Jun 2010 at 02:52 pm
FXE new LOD.
I had a feeling when we didn't FLUSH this AM...we would have a slow bleed...possibly LOD near the EOD....SRS really nice for me today..