pullback as I said, now I have no idea what the market is doing, I'll assume a rebound of some kind here to try to revisit the high and if it's failed, then finally the rebound is over. let's wait and see.
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Cobra wrote:pullback as I said, now I have no idea what the market is doing, I'll assume a rebound of some kind here to try to revisit the high and if it's failed, then finally the rebound is over. let's wait and see.
it's just typical reaction of headlines. today, this one: U.S. Stocks Rise as Minutes Show Fed Hasn’t Ruled Out Stimulus.
first overreaction of buying then, so guys took profit as this is still just open question.
Last edited by bbc on Tue Jul 12, 2011 3:08 pm, edited 1 time in total.
StrikePrice wrote:Looks more like the move UP was an A-B-C correction and this move DOWN is Impulse. No?
Today's trading action has no follow through imo. All chop.
Interesting you should say that. Here is a simple study if VIX and SPX can both close higher than yesterday. Just noticed this and haven't run backtests, but maybe the rebound can last through Thursday?
We are going to have a possible -2% down day tomorrow on Wednesday as we had on Monday.... markets consolidating before lower. Look at european markets - already down below the last lows they made 3 weeks ago.... US should follow down below 1260 next imho.
Greece considers to deffault now... time will tell...
Price popped on typical Fed Minutes silliness, then sold by bots on first touch of declining SPX 60min 20MA with pronounced negative divergence on TICK. We'll see, but I suspect that any move back above the 60 min. 20 MA will be viewed as an opportunity to sell. TICK is schizophrenic today. Bespoke had this interesting observation on Seeking Alpha http://seekingalpha.com/article/279088-a-manic-market
Swing to Intermediate SPX Analysis - multiple time frame - Daily & 60 min time and price cycle analysis.
Usually trade SSO / SDS
Sqwii wrote:We are going to have a possible -2% down day tomorrow on Wednesday as we had on Monday.... markets consolidating before lower. Look at european markets - already down below the last lows they made 3 weeks ago.... US should follow down below 1260 next imho.
Greece considers to deffault now... time will tell...
I think we have a big down day on Wednesday
I must agree with you. I Had not seen for a long time the European markets to fall so hard and with great volume, despite the recovery in the evening. The U.S. markets did not fall as the Europeans, only ES.
rhight wrote:Price popped on typical Fed Minutes silliness, then sold by bots on first touch of declining SPX 60min 20MA with pronounced negative divergence on TICK. We'll see, but I suspect that any move back above the 60 min. 20 MA will be viewed as an opportunity to sell. TICK is schizophrenic today. Bespoke had this interesting observation on Seeking Alpha http://seekingalpha.com/article/279088-a-manic-market
Bespoke is so bullish biased. They seem to be generally right about the long term but useless for swing trading.