Mongoose wrote:Yes. This may not be enough bad news for QE3. This knee jerk rally may not have legs. EuroUSD popped on the news and has settled back before the announcement.
The pop has cooled --- but perhaps its just waiting for some moving averages to catch up? Hard to trade here. Would be shorting at yesterday's high or R1. Risk/reward isn't great right here.....
always beware of the break out of triangle in one direction and nasty reversal through the other side. i am in cash for now... guess mr market wanted to go down ... dollar rallying, market should fall here IMO
cougar wrote:AAPL: “Gann’s Rule of 4” in action.
According to this rule, when a stock tries to break through a critical level, the 4-th trial is a crucial one. Therefore, the direction of the drive after a 4th retest, in the right conditions, can be followed with a good P of success.
On chart, AAPL is ready for hit #4 at the 6/8 level of the Murrey Math scale.
AAPL was weak yesterday because it's China suppliers are being accused of environmental contamination, except AAPL refuses to name its China suppliers. This could be the first strike against the company depending on how they handle the situation. Makes me think of the Nike and sweatshops in the past.
let's wait for the market to calm down. cannot breakout higher instead fall right from here is bad because it's fulfilled my last night call for the final push up. but for now it's too early to call, so let's wait.
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The action is corrective. While we got a 100%+ retrace of yesterday's C Wave, we've now entered the price territory of Wave 1 so we're not impulsing up imo. Pivot at 122.36 remains key area to watch.
That had to have been market maniulation by US stock exchanges. The 1 min chart below is the German DAX from livecharts.co.uk. Notice that the upmove in prices is more gradual than what happened here in the US.
Check out SPX daily chart, looks like one huge bear flag which is forming perfectly. Diminishing volume, huge volume into the low, long line of negative divergence.
Petsamo wrote:That had to have been market maniulation by US stock exchanges. The 1 min chart below is the German DAX from livecharts.co.uk. Notice that the upmove in prices is more gradual than what happened here in the US.
Much larger market, in the US = many, many more traders.
Petsamo wrote:That had to have been market maniulation by US stock exchanges. The 1 min chart below is the German DAX from livecharts.co.uk. Notice that the upmove in prices is more gradual than what happened here in the US.
Much larger market, in the US = many, many more traders.
US market moves so fast --- doesn't waste time fighting lines anymore --- 10 minutes? maybe. Then up/down to the next line.
Petsamo wrote:That had to have been market maniulation by US stock exchanges. The 1 min chart below is the German DAX from livecharts.co.uk. Notice that the upmove in prices is more gradual than what happened here in the US.
Pet: thanks for that link
Disclaimer: I am not an investment advisor. This is just my opinion NOT investment advice.
My guess is a Triangle that will eat up most of the rest of the day. I'm going to go do something more productive than watch, with alerts set. Hopefully things get more interesting after 2pm and tomorrow I'm hearing all different kinds of reports. NPR analyst said private sector added 50k which would be below expected. Other reports I've heard have said it'll be close to 100k like ADP was. So your guess is as good as mine for where we really go after the correction is over.