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Small gap up so the gap might be filled.
The Global ES is in a resistance area, hard to say whether it'd break up. The FEELING though, it still misses a dip, either with higher low (good for bulls) or lower low (we'll have to see then).
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7.13.2012
Bears need to defend 1343.47 to maintain the fall from 1374.81 impulsive
The yesterday's bounce from 1325.41 was a bit strong that made a price overlap and because of this, I think wave iii was not seen.
The yesterday's low at 1325.41 seems just the end of the first wave i within wave (3). We may be in wave ii and we might see its final stages within the anticipating channel (yellow). I expect wave ii to end somewhere below 1343.47.
With this reading the bounce from yesterday's low 1325.41 would end at around 1343.47 before a resumption of decline to form wave iii of (3).
stockcycle wrote:7.13.2012
Bears need to defend 1343.47 to maintain the fall from 1374.81 impulsive
The yesterday's bounce from 1325.41 was a bit strong that made a price overlap and because of this, I think wave iii was not seen.
The yesterday's low at 1325.41 seems just the end of the first wave i within wave (3). We may be in wave ii and we might see its final stages within the anticipating channel (yellow). I expect wave ii to end somewhere below 1343.47.
With this reading the bounce from yesterday's low 1325.41 would end at around 1343.47 before a resumption of decline to form wave iii of (3).
i'm watching this channel too. Bears need another leg down to keep this moving (and a new low) or else bulls can just churn their way (flat) out of channel and then we could see a bounce like last week of June. Hard to say who wins here. Good time to be neutral as I think we are near a major inflection point.
Some good risk reward for bulls in the 1310-1320 range. 1310 fails? IMHO adios 1400+ hopes for a while and perhaps cancel xmas.
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stockcycle wrote:7.13.2012
Bears need to defend 1343.47 to maintain the fall from 1374.81 impulsive
The yesterday's bounce from 1325.41 was a bit strong that made a price overlap and because of this, I think wave iii was not seen.
The yesterday's low at 1325.41 seems just the end of the first wave i within wave (3). We may be in wave ii and we might see its final stages within the anticipating channel (yellow). I expect wave ii to end somewhere below 1343.47.
With this reading the bounce from yesterday's low 1325.41 would end at around 1343.47 before a resumption of decline to form wave iii of (3).
i'm watching this channel too. Bears need another leg down to keep this moving (and a new low) or else bulls can just churn their way (flat) out of channel and then we could see a bounce like last week of June. Hard to say who wins here. Good time to be neutral as I think we are near a major inflection point.
Some good risk reward for bulls in the 1310-1320 range. 1310 fails? IMHO adios 1400+ hopes for a while and perhaps cancel xmas.
Yes, Those who bought the yesterday's dip are seeing good profit. But for a bull market back, I think 1344.56 must be taken away by the rise.
stockcycle wrote:7.13.2012
Bears need to defend 1343.47 to maintain the fall from 1374.81 impulsive
The yesterday's bounce from 1325.41 was a bit strong that made a price overlap and because of this, I think wave iii was not seen.
The yesterday's low at 1325.41 seems just the end of the first wave i within wave (3). We may be in wave ii and we might see its final stages within the anticipating channel (yellow). I expect wave ii to end somewhere below 1343.47.
With this reading the bounce from yesterday's low 1325.41 would end at around 1343.47 before a resumption of decline to form wave iii of (3).
My satisfaction always came from beating the market, solving the puzzle. The money was the reward, but it was not the main reason I loved the market (Jess Livermore)
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"Scott Bleier @CreateCapital
just look at the $DXY on no news (yet). Have you ever seen anything like it? QE or NEW BAILOUT ANNOUNCEMENT OVER THE WEEKEND?"
waiting for 1347.5 in ES to open shorts - just for scalp
My satisfaction always came from beating the market, solving the puzzle. The money was the reward, but it was not the main reason I loved the market (Jess Livermore)
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pezhead9000 wrote:"Scott Bleier @CreateCapital
just look at the $DXY on no news (yet). Have you ever seen anything like it? QE or NEW BAILOUT ANNOUNCEMENT OVER THE WEEKEND?"
DX now on support
EDIT: no more
My satisfaction always came from beating the market, solving the puzzle. The money was the reward, but it was not the main reason I loved the market (Jess Livermore)