I've stopped looking for tops, but looking at daily and weekly
Dow charts (price outside upper bb on both, and an unprecedented
number of closes above bb on daily)... now finally the good news
that signals "all clear". Could be a significant top tomorrow am.
Also, futures are not even up 1 percent. One would think this type
of news could produce a 4 percent move on a Sunday night a year
ago.
This post is a continuation of a post I made on May 2nd, 2011 --
post Bin Laden and a pretty significant top for many markets
(silver, commodities, emerging markets). IMO, there is a
chance that QEinfinity destroyed the "wall of worry" needed to
continue much higher. Interesting to note that although one
would think that brazil, OIH, oil etc would be flying right now,
they actually appear to be in bear flags and potentially gaining
some steam downtown.
Furthermore, as I noted on May 2nd 2011, the combination of
outlier price action above the upper bb on so many time frames
(including monthly), is rare indeed. Couple that with the
news that Bernanke will guarantee that stocks will never again have
a bear market, and the chances that this last "breakout" will be a
massive "fakeout" is a real risk. For now, price action is
positive (at least on SPX); in fact, as long as price stays above
1450, market might just melt higher.
osama bin laden has been
Posted by randy on 1st of May 2011 at 10:51 pm
osama bin laden has been killed, I wonder how that will affect the market open.
I've stopped looking for tops,
Posted by kalinm on 2nd of May 2011 at 12:14 am
I've stopped looking for tops, but looking at daily and weekly Dow charts (price outside upper bb on both, and an unprecedented number of closes above bb on daily)... now finally the good news that signals "all clear". Could be a significant top tomorrow am. Also, futures are not even up 1 percent. One would think this type of news could produce a 4 percent move on a Sunday night a year ago.
Title: A tale of two
Posted by kalinm on 25th of Sep 2012 at 12:21 pm
This post is a continuation of a post I made on May 2nd, 2011 -- post Bin Laden and a pretty significant top for many markets (silver, commodities, emerging markets). IMO, there is a chance that QEinfinity destroyed the "wall of worry" needed to continue much higher. Interesting to note that although one would think that brazil, OIH, oil etc would be flying right now, they actually appear to be in bear flags and potentially gaining some steam downtown.
Furthermore, as I noted on May 2nd 2011, the combination of outlier price action above the upper bb on so many time frames (including monthly), is rare indeed. Couple that with the news that Bernanke will guarantee that stocks will never again have a bear market, and the chances that this last "breakout" will be a massive "fakeout" is a real risk. For now, price action is positive (at least on SPX); in fact, as long as price stays above 1450, market might just melt higher.
Title: Significant top? At least one
Posted by philosoraptor on 2nd of May 2011 at 06:46 am
At least one of m3 Peter's systems is certainly in agreement - a number of short scale-ins already:
http://2.bp.blogspot.com/-dAdQYZLckCc/Tb3Jj_hpkSI/AAAAAAAACKc/fnLeEWHqqPQ/s1600/2011-05-01_1249_TF_Swing.png
[e-mini Russell 2000 futures chart]
Can anyone provide a link
Posted by iwedat on 1st of May 2011 at 10:56 pm
Can anyone provide a link to OBL being killed?
EVER HEAR OF FOX NEWS?
Posted by zach06 on 1st of May 2011 at 10:57 pm
hoax news
Posted by freddy123321 on 1st of May 2011 at 11:00 pm
I asked for a link.
Posted by iwedat on 1st of May 2011 at 10:57 pm
I asked for a link. I dont watch that crap.
They always pull this shit on an eleven day.
Posted by zach06 on 1st of May 2011 at 10:54 pm
May 2, 2011 adds up to an eleven.. they knew this for awhile and announce as 1/2 the World is on Monday already.
wasn't it just last week
Posted by marketguy on 1st of May 2011 at 10:59 pm
wasn't it just last week the terrorists were saying if we/allies killed OBL that they would unleash a "nuclear hell" somewhere in Europe?
update:
found the link (they said this on Tuesday)....weird timing huh?
http://www.dailyexpress.co.uk/posts/view/242958/%91Nuclear-hell%92-if-Bin-Laden-dies/
Yes...the "predictive programming" of America
Posted by jtverr on 2nd of May 2011 at 06:58 am
Yes...the "predictive programming" of America continues.
?
Posted by freddy123321 on 1st of May 2011 at 10:59 pm
is not half the world on a different day almost always?
whats with 11, today is still may 1??
11 eastern at night is just the same as May 2.
Posted by zach06 on 1st of May 2011 at 11:04 pm
kind of close counts in horseshoes, handgranaids and atom bombs.
yes ES futures just spiked
Posted by matt on 1st of May 2011 at 10:53 pm
yes ES futures just spiked 9 points on the news
bin Laden: Reuters, BBC World News Links
Posted by libertina on 1st of May 2011 at 11:07 pm
http://www.reuters.com/article/2011/05/02/us-obama-statement-idUSTRE74107920110502
http://www.bbc.co.uk/news/world-us-canada-13256676
Will Donald Trump need to see the death certificate?