Small gap down so my guess is the gap will be filled.
Purely feelings, the Global ES may need test the overnight low at least, such a test may break the low a little bit.
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GM Cobra!
$DXY trade already started.
Yesterday it bounced from MM2/8.
Today’s resistance is a zone between 78.43 and 78.93.
Here is the updated $DXY Square:
Seems SPX is still in range trading for a while. Prices are limited by the slants of the pennant/triangles. Because the range is becoming narrower and narrower, I think bear safely counts to 2 to close their positions.
agnosia wrote:well guys this is it.. my predictions so far are coming to fruition.
break below triangle - check.
smash through the other side in a strong counter move - soon to happen?
today is bullish opex day. my money is on the bull late day rally or overnight squeeze. good luck. gap below at 1237.25 /es
Are we looking at the same triangle?
If yes, they will have to drop significantly more, after opening, to fulfill your prediction.
I’ll be watching too…
GL!
Dorsey Wright P & F Charts show triangle has formed..The CONFIRMED break must be 1280 for move into the 1320 area or 1220 for a move dn into 1190 and below.Must have a confirmed move befor either up/dn targets are good so remember 1280/1220..DW charts are ususlly right..When will it happen who knows but watch for it.
For any bank bulls on board ?
From copyright Credit Suisse’s Traders Forum [kool-aid] this morning.
[Recall that regionals KRE are the “strongest” in the weak banking sector]
“Regional Banks…Bottom Line: Regulatory filings indicates strong loan growth in 4Q11; Reiterate OP [outperform] on FITB
As of 11/2/11, industry loan balances were up 1.8% y/y and 1.7% over the last three months, which compares to 1.1% and 1.7% on 9/28/11 according to the Fed's H8 data. This is led mostly by strong C&I loan growth (large case) and residential mortgage. The large and mid cap US Regional Banks are wellpositioned for this trend, as C&I loans compose 23% of assets. FITB is among the best positioned for loan growth given its loan mix (and geography).”
Disclaimer: I am not an investment advisor. This is just my opinion NOT investment advice.