$SPX over 2% gain I would said yes, a little over bought, day trade from here will be not much more up I would think, but power that be knows if they can not hold up here >122.5 all day, they will need more money (lots more) to push it up higher tomorrow if not tanking back down. we are still under 50/200dma, this makes it harder to stay up. let see I am like a kid in the candy store right now.[/quote]
I think we need to take some cue from /CL which is going gangbusters after being hugely muted over the past 2-3 days. /CL muted = equity markets being muted. /CL going gangbusters might bring Santa after all.
still too stretched, but looks like it want's to breakout.
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$SPX over 2% gain I would said yes, a little over bought, day trade from here will be not much more up I would think, but power that be knows if they can not hold up here >122.5 all day, they will need more money (lots more) to push it up higher tomorrow if not tanking back down. we are still under 50/200dma, this makes it harder to stay up. let see I am like a kid in the candy store right now.
kid in the candy store? Shop for the shorts?[/quote]
Too stretch like Cobra mentioned not much up from here for daytrade scalp, and here we are right at resistance
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My comments are for entertainment/educational purpose only. NOT a trade advice.
Looks like this will be a good time to take a day off..Wife wants to go into the big city of Seattle today..I will not take any positions today, to big pop up. Looking forward to having dinner at our favorite Chinese Rest. So lets see what tomorrow brings.
Cobra wrote:still too stretched, but looks like it want's to breakout.
Agreed. ES could print around 1238 today. NY-TRIN is WAY under 50 all morning. Any pull back is going to get bought by the dippers and shorts covering. I wish it were not so. I don't hold overnight and find these 20 pt overnight gaps frustrating. Pullback to 1219 if really strong, 1214 if moderately strong is a gift buy today imho
cougar wrote:Good morning!
Three consecutive days with similar patterns.
It's time for a CHANGE!
Hope, yes... Change, temporary... but lots and lots of pray
I see more posts this morning, so maybe everyone get back from candlelight vigil after Santa funeral. Bull pray only going to work for so long because most already sold their bible. Maybe Santa answer pray from grave, give bull last chance to sell to have nice Bear Christmas dinner. But bull rode hard and put up wet so will not understand until bull eat Broke bull Christmas Dinner
still, SPY leads the charge. But one thing I'd like your attention is: All the recent gap up then OR breakout were failed. So if later we had another breakout, I won't expect it to fail, we shall then have a very strong day today.
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