I was looking at the higher lows all morning and then that switch to lower highs after 11am after failing to take out yesterdays late day highs around 1663

On short term charts (3min) this morning till just a short time ago a wave 4 symetrical triangle which lost the bottom trend line and gave us wave 5 here now at some support. The 10year pushing over 2.8 was enough to get this rolling down. Also looking somewhat like a dead cat bounce so far.

shorts exiting the building

Posted by windyjazz on 15th of Aug 2013 at 03:47 pm

looks like some short covering into the close

Claims lowest since 07'

Posted by windyjazz on 15th of Aug 2013 at 08:59 am

Which sends futures down another 4 to hover above S3 at 1671 ish on the $SPX. A real oddity of ben-think there. Oh right I forgot "to taper or not". Sorry just my pre-market sarcasm. I'll stop.

Futures down 10

Posted by windyjazz on 15th of Aug 2013 at 08:09 am

Right now futures have us sitting on the $SPX 1676 ish green zone with the thin zone of 1628-80 looking down. There's only a small ledge of 1654 ish there to catch a falling knife. It's going to be interesting to see what the low volume boys are going to do with this.

H and S... Quasimodo $SPX 30Min

Posted by windyjazz on 13th of Aug 2013 at 01:33 pm

Looks like the 30min H and S wants to morph into the Quasimodo Hunchback of Notre Dame scenario. Helped of course by some Dennis Lockhart fedspeak (there may not be enough data to taper in Sept) and he's not even a voting member!

1683 higher low to 1694 high

dump and pump

Posted by windyjazz on 13th of Aug 2013 at 12:57 pm

11 S and P points ..total time 1hour fifty minutes...I say some pretty quick drying paint....just sayin'

dump and pump

Posted by windyjazz on 13th of Aug 2013 at 12:44 pm

Wow does this market love the dump and pump trade. I count the 8th day in a row that the market dumps in the morning only to buy back some or all of it during the day. I guess this will work till it doesn't.