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Small gap down, within yesterday's range so the gap might be filled.
The Global ES failed the 2nd attempt on the new high overnight, now we need watch the blue line below, bears need break that to have their very first pair of lower high and lower low. Unfortunately even they do finally have the lower high and lower low, the pattern is too small to be any threat to bulls as the text book target is 1390.
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More talk about rebalancing AAPL. Earlier this year when it hit 20%, the nasdaq was quoted as saying that 25% weighting would trigger a rebalance…… but now:
“……..WSJ noted … ‘rebalancing is likely to kick off waves of trading... as money managers scramble to adjust holdings to reflect the new composition of the index.’ Interestingly, AAPL has reached 20% of the index twice this year already - which just happened to coincide with significant selling pressure on the stock - will third time be the charm…”
Cobra wrote:If you're StockCharts member, please do me a little favor by "vote" and the most importantly "follow" my public chart list here: http://stockcharts.com/public/1684859. You need "follow" only once but vote can be done everyday, so whenever you have time, please vote for me, thanks! If you're not StockCharts member, you can also help boosting my rank by clicking the link once everyday.
Please, again, all my calls in the daily live update is for intra-day only, they're absolutely invalid when the closing bell rings. If you're interested in the forecast for days and weeks, please subscribe my daily newsletter services.
Also personal attack on any board members won't be tolerated. Please limit your topic to trade related only.
Small gap down, within yesterday's range so the gap might be filled.
The Global ES failed the 2nd attempt on the new high overnight, now we need watch the blue line below, bears need break that to have their very first pair of lower high and lower low. Unfortunately even they do finally have the lower high and lower low, the pattern is too small to be any threat to bulls as the text book target is 1390.
Futures are down due to PMI and Claims miss, but I think the bulls will take that as good sign for the Fed and China to turn on the press.
“Peter Thiel's decision to sell almost all of his stake in Facebook Inc. (FB) so soon after company's initial public offering has few precedents in Silicon Valley, where venture capitalists typically hold shares longer…” http://finance.yahoo.com/news/facebook- ... 3.html?l=1
Disclaimer: I am not an investment advisor. This is just my opinion NOT investment advice.
Momentum Block Update:
Currencies markets are giving mixed signal with the best pair(s) in sell mode.
Futures signal needs to be taken with caution since US markets gave back all overnight gains after ADP report this morning.
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Above is provided for informational purposes only and shouldn't be considered an investment advice or recommendation to buy or sell anything.
“Hedge funds are betting on a disaster hitting the financial markets within the next several quarters, with managers holding onto historic levels of cash…”
"This is not to say they are net short. They simply want to conserve their buying power and be ready for major opportunity sets that may arise."
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coralla wrote:Cobra, I vote for your charts everyday, and I learn a lot from you. Thanks for your generous sharing with us, you are the best!
Thanks.
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nothing to say. bears need decisively break yesterday's low in order to keep the game going on, so wait.
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