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Cobra wrote:hmm, good H2. I think bears need pray now, chances are higher and higher the low was in.
this round of pullback. bulls will revisit yesterday's high if proven the low was in.Me XMan wrote:You're talking for today correct?
Cobra wrote:hmm, good H2. I think bears need pray now, chances are higher and higher the low was in.
This would be a super minimal post opex / post holiday top pullback if the low is in.... our pullback post the Jan opex top was 16.5 SPX pts and we are even more OB, so I would be really surprised if we do not go a bit lower first - Other than last year, post Feb opex tops tend to take a while to develop.... but I think a minimum of 20pts for the pullback is to be expected.... If it is just 12,5 then the BULLS are SUPER STRONG!Cobra wrote:this round of pullback. bulls will revisit yesterday's high if proven the low was in.Me XMan wrote:You're talking for today correct?
Cobra wrote:hmm, good H2. I think bears need pray now, chances are higher and higher the low was in.
I looked back over the last six weeks in the last few nights. We are repeating patterns that are 100% computer generated. This has been a slow walk up. Everything should look familiar to everyone as we keep making the same patterns. And they are being made with HFT/algo activity. IOW, they are churning everyone as there are really no more longs to put massive funds into the market. I've not looked at the volume at all but I presume it is low given the small bars and then the 10-15 pt SPY bars that take place between blink your eyes and the print is just there.Cobra wrote:here's what I mean up is just one leg but the pullback already 2 legged (no lower low yet, so don't now yet if this is the 2nd leg, I just assume it makes a lower low later), so bulls are stronger therefore I expect another leg up, no necessarily today though because only 24 minutes left.