1440 pivot, all downtrend lines. Seems like if it turns
out a trend day, we could open above all resistance, then melt up
to 1462? We'll have to see. $DAX back-test prior 7600
high and is now confirming breakout. Small caps will open
within a point or so of all-time highs. Will Jan effect push
them into thin air above 869? Financials also clearing a big
hurdle -- XLF clearing 16.61. If the SP holds today for the
normal melt up configuration on the 5 min chart (a high base to
allow for the 50 MA to intercept it sometime near mid-day), then
1478 will be an initial target, and 1525 a "popped stop"
target.
looks like small caps will open at all-time highs (old high
868.5, opening at 870?). there is resistance there, but
that may mean nothing with Jan effect. Noting the MACD
potential negative divergence -- price would need to reverse for
that to even be an issue though. Small cap futures up 5.3% so
far this week (and we are only half way through the week!).
One possible catalyst for climbing the next wall of worry --
debt ceiling wrangling. That may be months away and could be
enough negativity to fuel market ever higher.
chuck -
cpickering, I sent
you an email, looks like you need some
guidance on how to use
the website - give us a call.
As far as shorts - can you point out shorts that we suggested
recently? In fact my systems have been long, last week I
posted that 4 of my SPX systems and DVY system went long on Dec
27th!
here's a link to that post which I also emailed out, those
systems are up very nicely now,
Who said the rally would not get over 1432? The market's
action was all correlated with the fiscal cliff news. There
was NEVER a mention of the market not getting back above 1432...I
have no idea where you get that number. I said to watch to see how
the market would react to whatever came out of the fiscal cliff
discussions.
I certainly don't see any such suggestion on the Trade Ideas
section either. You must be referencing another
newsletter.
Futures clearing all sorts of resistance
Posted by kalinm on 2nd of Jan 2013 at 09:06 am
1440 pivot, all downtrend lines. Seems like if it turns out a trend day, we could open above all resistance, then melt up to 1462? We'll have to see. $DAX back-test prior 7600 high and is now confirming breakout. Small caps will open within a point or so of all-time highs. Will Jan effect push them into thin air above 869? Financials also clearing a big hurdle -- XLF clearing 16.61. If the SP holds today for the normal melt up configuration on the 5 min chart (a high base to allow for the 50 MA to intercept it sometime near mid-day), then 1478 will be an initial target, and 1525 a "popped stop" target.
looks like small caps will
Posted by kalinm on 2nd of Jan 2013 at 09:27 am
looks like small caps will open at all-time highs (old high 868.5, opening at 870?). there is resistance there, but that may mean nothing with Jan effect. Noting the MACD potential negative divergence -- price would need to reverse for that to even be an issue though. Small cap futures up 5.3% so far this week (and we are only half way through the week!). One possible catalyst for climbing the next wall of worry -- debt ceiling wrangling. That may be months away and could be enough negativity to fuel market ever higher.
I pity the shorts this morning.
Posted by tomW1 on 2nd of Jan 2013 at 09:14 am
alternative viewpoint to 'pity shorts'
Posted by hazbin1 on 2nd of Jan 2013 at 09:37 am
being short a boatload of puts!
oh yeah!! keep this rally
going!
Great ... so much for
Posted by cpickering on 2nd of Jan 2013 at 09:23 am
Great ... so much for "the rally won't get over 1432" in our 12/30 newsletter. First trade since becoming a member .... LOSER.
chuck - cpickering, I sent you an
Posted by matt on 2nd of Jan 2013 at 09:53 am
chuck - cpickering, I sent you an email, looks like you need some guidance on how to use the website - give us a call.
As far as shorts - can you point out shorts that we suggested recently? In fact my systems have been long, last week I posted that 4 of my SPX systems and DVY system went long on Dec 27th!
here's a link to that post which I also emailed out, those systems are up very nicely now,
http://breakpointtrades.com/blog/post/213613/
RSI 2 systems
Posted by: matt on the 27th of Dec 2012 at 03:20 pm
It looks like several of my RSI 2 market systems will go long today as long as RSI 2 stays oversold below 10%. Here's some statistics and charts.
Also I have a strategy on the ETF DVY, which is the DJ Select Dividend ETF, pretty good stats with an 11 PF and 89% winning trades.
Who said the rally would
Posted by steve on 2nd of Jan 2013 at 09:33 am
Who said the rally would not get over 1432? The market's action was all correlated with the fiscal cliff news. There was NEVER a mention of the market not getting back above 1432...I have no idea where you get that number. I said to watch to see how the market would react to whatever came out of the fiscal cliff discussions.
I certainly don't see any such suggestion on the Trade Ideas section either. You must be referencing another newsletter.
http://breakpointtrades.com/watchlist/
The trade you entered had NOTHING to do with what was stated in the newsletter and there was no statement regarding 1432 being a level at all.