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Flat open, so any gap will be filled. Usually the day after a huge up day like yesterday tends to be a small range day either up or down, so might be a boring day today with bullish bias as nowadays Friday suppose to be very very bullish.
I don't see any pattern on Global ES. Since the push up we had yesterday was strong, so normally it at least should be 2 legged, therefore chances are the very 1st pullback would be bought.
Really, will this market ever pullback again? Are we going to SPX 3000 soon (I was kidding before but now it seems a reality)? I can imagine that one day everyone quit the job and go to stock market for easy money... what a perfect world!
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No comments on DAX, another Doji today, then we need see the next Monday whether it means continuation or reversal. The feeling should be reversal but the pullback would be bought later as this bull has legs.
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GM fighters, does anyone have better numbers then I ?
Found it in my old notes (don´t know if they are still accurate) : 1.5 billion of liquidity for a 1 ES point (40/1.5 = 27es/month)
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)
grachu wrote:cobra for the spy pullback last night I did not see a target do we have one? I will go back and look ?
No target yet, need a pattern first.
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Like to read more of my commentaries? Please subscribe my Daily Market Report. Subscribers can find all the members only posts HERE. StockCharts members, please vote for me HERE, thanks.
KeiZai wrote:GM fighters, does anyone have better numbers then I ?
Found it in my old notes (don´t know if they are still accurate) : 1.5 billion of liquidity for a 1 ES point (40/1.5 = 27es/month)
I heard two numbers - 1 trillion and 1.4 trillion. With the lower number, let's say we get 600+ points, that would get us well above 2000 before that well runs dry. This aside from operation twist which will go on till the end of the year.
KeiZai wrote:GM fighters, does anyone have better numbers then I ?
Found it in my old notes (don´t know if they are still accurate) : 1.5 billion of liquidity for a 1 ES point (40/1.5 = 27es/month)
so 10 month, 270 points, not bad.
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This is probably more appropriate for the weekend forum but thought I'd post anyway. The Bullish Gartley (green on chart) played out nicely end of July. We COULD be forming a Bearish Gartley/Bat harmonic pattern. See the range on the chart.
ClarkW wrote:This is probably more appropriate for the weekend forum but thought I'd post anyway. The Bullish Gartley (green on chart) played out nicely end of July. We COULD be forming a Bearish Gartley/Bat harmonic pattern. See the range on the chart.
Thanks.
So if it holds with a top 55.76? then is there a measurement to the downside from the bearish bat?
Educational only and not trading advice (EO&NTA) Good trading to all
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I have been reading the thread for a couple of weeks.
It seems like a excellent group!
I would like to thank everyone for there great charts.
A special thank-you to Cobra for sharing his insights and all his hard work!!!
Good trading everyone,
Ian
(Thanks for the welcome Joe!)
Thanks and welcome aboard!
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I do not understand why TLT is falling after Uncle Ben said he would buy $40 billion of bonds a month to force interest rates down. Why are rates rising and TLT falling? Any thoughts?
Thank you.
fulkdaddy wrote:I do not understand why TLT is falling after Uncle Ben said he would buy $40 billion of bonds a month to force interest rates down. Why are rates rising and TLT falling? Any thoughts?
Thank you.
He is buying MBS not treasuries. He wants to clean up the banks.
You've got be kidding right? What Bernanke saying is he's got the bankers and speculators back.
The market ain't coming down soon IMO. They gonna do like 1999 'net style. All dips will be bought.
TradingJackal wrote:Though I don't believe we will see the Wolfe this time, the setup finishes at 1468.41. Maybe a good place for the market to take a breather.