frankthetank wrote:thats true cobra. But the fact is 200 billion of exposure in just greece, ireland and portugal (financial sector). imaginge spain and italy what the us banks exposure is too the CDS market. That would basically wipe out 25% of an already depressed market cap of financials.. The only way out is Print mother print here that ECB you want a rally to start in stock market then start printing and don't stop printing untill that fund has a trillion in it. Ben will follow suit and then we can rallly
perhaps, that's what the market is thinking now: printing is sure thing?
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Petsamo wrote:If we finish above the open, we should gap up tomorrow.
Agree -- epic fail for bears. Should see a big rally tomorrow IMHO. Not surprising seeing how important the 1140 neighborhood looks on a chart. Support holds, BOTS MUST BUY
volume surge, no good, let's see the current bar, hopefully a consolidation here.
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frankthetank wrote:thats true cobra. But the fact is 200 billion of exposure in just greece, ireland and portugal (financial sector). imaginge spain and italy what the us banks exposure is too the CDS market. That would basically wipe out 25% of an already depressed market cap of financials.. The only way out is Print mother print here that ECB you want a rally to start in stock market then start printing and don't stop printing untill that fund has a trillion in it. Ben will follow suit and then we can rallly
perhaps, that's what the market is thinking now: printing is sure thing?
If we don't print this market higher now it could end up forming a bigger H&S with the Head at 1370 and the Neckline at 1050. The Bears will get their 750 like Tim Knight is dreaming of.
frankthetank wrote:Anyone explain how the SPY and the US markets are holding strong while the rest of the worlds stock markets are breaking down. Even the TSX is down 3 times the loss of the states.
Now that is a dang good question -- been wondering it all day myself. Maybe better M&M's (manipulation) in US?
also the good old USA has a much higher probability of passing QE3 to debase the currency and add liquidity to the system so that our bankers can keep their life styles.
notice the last 5 days have had a surge the spy in the last 15 minutes.
Also shouldn't we at least test the bottom to have a double bottom before the SPY moves back up?
frankthetank wrote:notice the last 5 days have had a surge the spy in the last 15 minutes.
Also shouldn't we at least test the bottom to have a double bottom before the SPY moves back up?
Nothing is exact in trading. This could easily be considered a double bottom with last Tuesday's low
frankthetank wrote:Anyone explain how the SPY and the US markets are holding strong while the rest of the worlds stock markets are breaking down. Even the TSX is down 3 times the loss of the states.
Now that is a dang good question -- been wondering it all day myself. Maybe better M&M's (manipulation) in US?
also the good old USA has a much higher probability of passing QE3 to debase the currency and add liquidity to the system so that our bankers can keep their life styles.
Totally. If IB's want to justify their pay and CB's want to keep selling securities products this market can't crash. They just want more liquidity to spread it around and now the gov't is forced to give it.
my guess is that's it for today if not a pullback here because it closes to too stretched.
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auger wrote:Not sure the chances of a reversal, but possible near term falling wedge forming in SPY
SPY_FW.png
...The bullish algos see a pattern, they buy buy buy buy (as in no red permitted on any chart) until they get to the minimum target and then dump like a game of hot potato....