I will try and post a chart but it looks like '1' of C finished early morning at 1399 on ES, 2 looks a three wave ABC with B looking like a triangle or similar (and currently underway). We may get one more weakness to around 1394 ES and below before this moves up. Break of 1399 without the dip signals the Wolves have herded enough sheep and are ready for the feast.
On a swing trade time frame I see short interest at lowest levels since 2007 for SPY and 2000 for QQQ so seems like other than short-term upward price movement/manipulation there would be very little fuel to sustain a continued rally before a significant pullback/correction.
Yeah so the dilemma seems to be that yes the market has 'melted-up' due to low volume (and da big boys usually no
like that) BUT it seems to me that there are an awful lot of 10 week/ 20 week ma bullish crosses (or near crosses) --
everywhere I look -- isnt that like SUPER-bullish ?? Anyone anyone?
[quote="TradingJackal"]6 reasons why a 2012 monster rally is coming. Duck and cover.
also could be titled "6 reasons why a late 2012 early 2013 monster decline is coming". as these things play out and people really begin to see the issues. if only it was as simple as the ecb just buying bonds over the longer term. this is the "twitter school of economics".
Yeah so the dilemma seems to be that yes the market has 'melted-up' due to low volume (and da big boys usually no
like that) BUT it seems to me that there are an awful lot of 10 week/ 20 week ma bullish crosses (or near crosses) --
everywhere I look -- isnt that like SUPER-bullish ?? Anyone anyone?
Hold it! Looks like our timeframes do not match. I am expecting for us to go North to finish off what looks like an ED. This would be the last wave of that ED. Expecting doom and gloom right after that. However, I have seen more miracles in the last few years than my entire life so I will not be surprised if the market levitates instead of falling. But Mr. Hyde is away and this is Mr. Jekyll. So, you will only hear tape following from me.
Yeah so the dilemma seems to be that yes the market has 'melted-up' due to low volume (and da big boys usually no
like that) BUT it seems to me that there are an awful lot of 10 week/ 20 week ma bullish crosses (or near crosses) --
everywhere I look -- isnt that like SUPER-bullish ?? Anyone anyone?
well if a nice looking building is built of beach sand (and thus will cave) it's certainly ok to rent very short term--but long term purchases are going to be risky at some point. anything is only as strong as the parts it is built out of. anything works for 100-200 spx points--esp given the almost inevitable irrational action near tops. But sooner or later you wind up having to deal with reality. and the reality so far is the foundations look pretty weak.