sorry, a little late. it hit the target and overshot, so I think might pullback or at least consolidates a little here. If we do have the pullback here, the 3rd push up will be the key to watch.
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pullback target, good, now bears finally see some hopes, but still the 3rd push is the key to watch, I'll show in the next chart.
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here's my favorite 3 push up, the bears only hope is the rebound this time cannot make a decisive new high, otherwise it's hopeless again, let's see.
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Let me make this clear: I just said bears finally sees some hopes, but it's still far from the reality. the bigger picture is clear up biased, the breakout pullback so far holds above the consolidation area.
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1370 is like the Rubicon - if it get's broken to the upside SPX will shoot up and stay up. Vice versa if there is a break to the downside. Presumably this will be a flattish day
stucap wrote:Bears have no chance. Even if (stress if) this thing reverses this morning, VWAP is sitting pretty at the overnight low 1363ish ready for the JBTFD.
FOMC on March 13, so hardly can market drop before that. I guess.
EUO,UUP and $SPX are all open in green. It is kind of hard to believe that we are going all in the direction.
Not really hard to believe --- Market no longer cares about the time-tested indicators --- just watch AAPL and don't forget to buy the dip.
Jesus, you're like the most bullish person on this board.
I am bullish long term over the next couple of years but right now it's the time to be scared.
I definitely lean to the dark side --- I just have a problem with one-sided markets --- and a little bitter that I missed the boat and see no reason to jump on now (which means we've got another 10% upside to the rally)
key time. but I admit, i mostly don't hope much for bears.
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Interesting...small caps are launching higher today. GDX trying to put in another hammer. I was geared up for some volatility today, but so far it has been a dud. Too much work to do...have a good weekend.
uempel wrote:Al, which chart of yours are you eyeing at the moment? Thanks a million.
hi Uemp
Just posted 1 min, can u see it??
Note inverted trin LED down early, even when price and nyadv were creaping up
I luv her
GL
Tks Al, can you pls post the link so that I can put it on my radar? By the way, I've got all kinds of charts of yours, just wanted to get hold of the NEW AL_CHART (you should sell'em for $499, same price as Tim Cook charges for his new iPad )
Last edited by uempel on Fri Mar 09, 2012 11:17 am, edited 1 time in total.
ES Globex : I am "working" with a Triple ZZ = wave (B)
If price unfolded a triangle prior to NFP release price should now unfold an impulsive up leg
The retracement post NFP has been corrective and has not overlaped hence more upside should be expected.
uempel wrote:Al, which chart of yours are you eyeing at the moment? Thanks a million.
hi Uemp...Just posted 1 min, can u see it??...Note inverted trin LED down early, even when price and nyadv were creaping up
...
Tks Al, can you pls post the link so that I can put it on my radar? By the way, I've got all kinds of charts of yours, just wanted to get hold of the NEW AL_CHART (you should sell'em for $499, same price as Tim Cook charges for his new iPad )