IWM trying to print 6th black (green) bar in a row on the daily chart. Volume is declining and it is technically (RSI, stochastics) overbought. Problem is sideways movement can burn off the overbought technicals and diverging volume so not a 100% fool proof short signal.
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MrMiyagi wrote:Place your bets before window closes; last hour. 141.20$ SPY maybe?? Maybe??
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Hi Uempel,
You gonna play this move? Only 7 minutes... Or maybe on ES for 15 more?
Yeah, but only because I'm bullish for the next 10 days. So even if it does not work out I'm ok with adding a bit more longs here. Maybe only very short term.
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I'm surprised no breakout here, the chart pattern looks good. 6 min to close, so no idea now, anything could happen.
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There is only 15% chance that tomorrow SPY will open lower by 0.75%( per New M05 setup. It is not a firm conclusion due to low n, just an observation)
Edited to bring clarity.
Last edited by Harapa on Mon Nov 26, 2012 6:50 pm, edited 1 time in total.
Above is provided for informational purposes only and shouldn't be considered an investment advice or recommendation to buy or sell anything.
well, guess that's it for day. members should now know that to expect in general, tomorrow, so no blah blah here. thank you guys, I'll see you tomorrow.
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Chance of "Gap down > 0.75%" tomorrow per New M05 setup is only 15% (an observation not a firm conclusion due to low n)
You mean 0.75%, not 75%, right?
Yes, means tomorrow SPY opens lower by 0.75% relative to today's close.
Here is the data
since March 2012
GAP by 0.75%
Gap Up/Gap Dn/T-Status
8/ 2/ T-Buy
1/ 11/ T-Sell
89%/ 15%/ % Gap up/dn
Current Status: T-Buy
Above is provided for informational purposes only and shouldn't be considered an investment advice or recommendation to buy or sell anything.