agnosia wrote:next major support on /es is 1188. the 38% fib retracement from the 1010 lows. this might be the ultimate bear target?
is it too early to start drinking?
it's never too early a tough call here guys, there are countries falling apart and this could be the unraveling of our markets ..or a great buying opp? good luck to you all, i am watching for now , i learned my lesson earlier this week.
speechless, I guess this drop was due to I covered half of my day short at the target I mentioned, so the market wants me to feel terrible.
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.
i guess there is nothing like how low can we go right? untill we reach "0" ... seems like its all down hill..... i acted too early taking off my shorts @123.00 and entered long already the red of the unrealized gain is creating havoc
Margin calls going out? This market was way overleveraged at SPX 1300.
Cobra wrote:speechless, I guess this drop was due to I covered half of my day short at the target I mentioned, so the market wants me to feel terrible.
well, looks like no need to argue whether the H&S top is for real anymore, guess the 55% * text book target is almost reached today so it counts as a successful pattern.
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.
My bottom fishing long of Monday looks likely to stop out for loss if SPY goes to lower lows.
McClellan Oscillator, which I follow closely, has been stuck very oversold quite long. Usually, this low this long has started correcting by now. Behaving different.
Common VIX pattern is to spike up and drop back within a few days. Now holding up at sustained levels. This is more like late 2007, when levels stayed up and lows came with spikes up to 30+.
Yesterday ran a lot of stops. There is probably another slug below yesterdays lows with people tightening. So, another run possible.
Just plain treacherous out there.
Well, That was quick. VIX almost to 30, and the next load of stops got run.
Does anyone know when is the next Jackson Hole symposiumfor 2011 ( when they determine QE????)? I google search it and I can't find anything. Rumors Aug 9 but I really to see the site.
volume surge, overshot, biggest bar, so it's an exhaustion bar. should be another rebound attempt. normally the rebound would fail though as the push down was way too strong.
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.