Gap up within yesterday's range plus most gap after a Major Distribution Day got filled so chances are the gap will be filled today, not sure as the gap is really large.
Global ES can be seen as breakdown the Rising Wedge and now on the way to kiss the wedge goodbye. This of course is nothing more than a wild guess, the very basic theory behind is rarely a strong push down like yesterday was just one legged, but as you know there's nothing 100% works in the stock market. So bear a little bearish bias in the mind, but trade whatever the market really brings to you. Wish all you have a great day!
Attachments
Like to read more of my commentaries? Please subscribe my Daily Market Report. Subscribers can find all the members only posts HERE. StockCharts members, please vote for me HERE, thanks.
Unless Italian bond yields spike again I doubt the gap gets filled. 10 year yields down to 6.76% from a high of 7.48% yesterday.
Panic abated temporarily.
/dx is in focus as the 77.50 is pretty crucial. breakdown below that and the bears may be out of luck. hold that level, and we should fill the gap IMO.
BTP's - Italian bonds have been fluctuating between 5.5%-6.5%.
hey guys, bears can't catch a break. lol. stayed awake for the 3am pop that has been working like clockwork for the past few weeks. i went long 3am /es at 1220 and /cl 95.4, thinking about changing my trading hours until this stops working.
upside targets for /cl is 99. if /es breaks 1238.5, i am selling.. good luck today guys.
Good morning Prime Minister Cobra
Can I get you a refill on that coffee?
PAGING BOARDERS who follow the A/D. Here’s a gorgeous view of the pure A/D during a monster day (yesterday), compared to choppy and/or lobster days. Rorschach chart: http://stockcharts.com/h-sc/ui?s=SPY&p= ... listNum=15
“Simplicity is the ultimate sophistication.” [Attributed to Leonardo da Vinci, and used in the first Apple II brochure, 1977]
Disclaimer: I am not an investment advisor. This is just my opinion NOT investment advice.
My statistic shows that we are almost certain to see the lower low than yesterday low. With the daily price development like the last 3 days, my statistic from Jan 1975 show: A) 6/58 =10.3% the higher low next day B) 1/58 = 1.7% the equal low next day C) 51/58= 88% the lower low seen next day ** All 12 counts from Jan 2009 to the Oct 31 show Lower Low: http://cyclestockmarketwinner.blogspot.com/
stockcycle wrote:My statistic shows that we are almost certain to see the lower low than yesterday low. With the daily price development like the last 3 days, my statistic from Jan 1975 show: A) 6/58 =10.3% the higher low next day B) 1/58 = 1.7% the equal low next day C) 51/58= 88% the lower low seen next day ** All 12 counts from Jan 2009 to the Oct 31 show Lower Low: http://cyclestockmarketwinner.blogspot.com/
Beautiful work...tradingtheodds.com also showed something similar