tradesmart
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Pumping hard....?
I’m not seeing the current ‘pump’ as an invitation to go long just yet….it could prove to be a false breakout above previous resistance....
The index is now sitting above two gaps – Friday’s opening gap 240/260, and today’s 'suspicious' gap up….
One, if not both of those gaps are going to be filled very shortly imho….possibly the upper one today…
As mentioned elsewhere, money managers can bid the market up at the end of the month and cash out at the highs to flatter the months returns….very tempting…
trick or treat bud........?
I’m not seeing the current ‘pump’ as an invitation to go long just yet….it could prove to be a false breakout above previous resistance....
The index is now sitting above two gaps – Friday’s opening gap 240/260, and today’s 'suspicious' gap up….
One, if not both of those gaps are going to be filled very shortly imho….possibly the upper one today…
As mentioned elsewhere, money managers can bid the market up at the end of the month and cash out at the highs to flatter the months returns….very tempting…
trick or treat bud........?
I'll bet on treat ! :cheesy:tradesmart said:I’m not seeing the current ‘pump’ as an invitation to go long just yet….it could prove to be a false breakout above previous resistance....
The index is now sitting above two gaps – Friday’s opening gap 240/260, and today’s 'suspicious' gap up….
One, if not both of those gaps are going to be filled very shortly imho….possibly the upper one today…
As mentioned elsewhere, money managers can bid the market up at the end of the month and cash out at the highs to flatter the months returns….very tempting…
trick or treat bud........?
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Sell off before the close?
Possible.....
The high of the day is around the area where the problems are for possiblities of further upward action.......
10000 in a few weeks? Well very possible but 10200 is the area we need to close below on the weekly charts.
A close above 10500 (Weekly) and we are then looking for higher prices for the end of the year.
10000 is very very close.
We sitting nowhere...........we are more bearish then bullish......
Why? Well we sit roughly 450 from the lows and 450 from the highs.......no mans land......
But
the trend is still down......
and like they say ' the trend is your friend'.
Its therefore hard to say which way we could be heading......
Even at this stage I would say the possiblity of declines ahead is greater then rises.
SHORT
Good Luck all.....
Possible.....
The high of the day is around the area where the problems are for possiblities of further upward action.......
10000 in a few weeks? Well very possible but 10200 is the area we need to close below on the weekly charts.
A close above 10500 (Weekly) and we are then looking for higher prices for the end of the year.
10000 is very very close.
We sitting nowhere...........we are more bearish then bullish......
Why? Well we sit roughly 450 from the lows and 450 from the highs.......no mans land......
But
the trend is still down......
and like they say ' the trend is your friend'.
Its therefore hard to say which way we could be heading......
Even at this stage I would say the possiblity of declines ahead is greater then rises.
SHORT
Good Luck all.....
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frugi
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No negative breadth divergences on these new highs and a possible Dow 1/5 min channel upside breakout in effect now.
Dow/SPX/Naz have a small amount of upside space within their channels so they may go up a bit more. That should depose the last of the shorts then we can go down.
Translation: I have no idea where we're going but am looking for shorts on more upside if accompanied by breadth divergences.
Dow/SPX/Naz have a small amount of upside space within their channels so they may go up a bit more. That should depose the last of the shorts then we can go down.
Translation: I have no idea where we're going but am looking for shorts on more upside if accompanied by breadth divergences.
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If it can punch through 10520 then we should see 10600.
If it fails to break this resistance then it's likely to consolidate in the 10500 - 10300 range for the time being.
Key downside break will be 10200 - question is only when we will finally break this level !
If it fails to break this resistance then it's likely to consolidate in the 10500 - 10300 range for the time being.
Key downside break will be 10200 - question is only when we will finally break this level !
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Sell off before the close?
Possible.....
The high of the day is around the area where the problems are for possiblities of further upward action.......
So we went to that area once again the one I mentioned earliar........
Please see chart and analysis posted earliar.........................................
Nice Stuff
Good luck all
Possible.....
The high of the day is around the area where the problems are for possiblities of further upward action.......
So we went to that area once again the one I mentioned earliar........
Please see chart and analysis posted earliar.........................................
Nice Stuff
Good luck all
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