34 replies to this topic

[arbman]

The market is very close the nominal 16 wk cycle lows, the stop at new lows. There is some divergence in the price momentum. The internals though in my opinion are not ready for a big rally, so this will be also sold sooner or later, but the bounce is rather worth the try, the market is quite o/s... I would get some sort of a confirmation by a swift rally over 1125 that it may extend over 1130s, for now this is only a what-if... Best of luck.

Edited by arbman, 17 May 2010 - 12:09 PM.

[zoropb]

The market is very close the nominal 16 wk cycle lows, the stop at new lows.

There is some divergence in the price momentum. The internals though in my opinion are not ready for a big rally, so this will be also sold sooner or later, but the bounce is rather worth the try, the market is quite o/s...

I would get some sort of a confirmation by a swift rally over 1125 that it may extend over 1130s, for now this is only a what-if...

Best of luck.

1128+- then one more low then up to 1140 are better odds but I may be wrong.

I have to say the action today is not very encouraging for IT bulls.

Edited by zoropb, 17 May 2010 - 12:16 PM.

[zoropb]

nah you may be right arby 1137 but after that we are heading south.

[hitoya]

The market is very close the nominal 16 wk cycle lows, the stop at new lows.

There is some divergence in the price momentum. The internals though in my opinion are not ready for a big rally, so this will be also sold sooner or later, but the bounce is rather worth the try, the market is quite o/s...

I would get some sort of a confirmation by a swift rally over 1125 that it may extend over 1130s, for now this is only a what-if...

Best of luck.

Gap is marginally filled. Need a bounce or get to spx 105 really fast.

[goldswinger]

The market is very close the nominal 16 wk cycle lows, the stop at new lows.

There is some divergence in the price momentum. The internals though in my opinion are not ready for a big rally, so this will be also sold sooner or later, but the bounce is rather worth the try, the market is quite o/s...

I would get some sort of a confirmation by a swift rally over 1125 that it may extend over 1130s, for now this is only a what-if...

Best of luck.

1128+- then one more low then up to 1140 are better odds but I may be wrong.

I have to say the action today is not very encouraging for IT bulls.

Z I am with you on 1128, then down to the gutter again..... but we should bounce strongly after that.......

GS.

[mogreen]

Does Terry's T end Thurday the 20th...Is it still valid?

[zoropb]

The market is very close the nominal 16 wk cycle lows, the stop at new lows.

There is some divergence in the price momentum. The internals though in my opinion are not ready for a big rally, so this will be also sold sooner or later, but the bounce is rather worth the try, the market is quite o/s...

I would get some sort of a confirmation by a swift rally over 1125 that it may extend over 1130s, for now this is only a what-if...

Best of luck.

1128+- then one more low then up to 1140 are better odds but I may be wrong.

I have to say the action today is not very encouraging for IT bulls.

Z I am with you on 1128, then down to the gutter again..... but we should bounce strongly after that.......

GS.

yes big bounce if we do plan 1128 scenario if we do Arbs NOT good we are going to test the flash low.

Edited by zoropb, 17 May 2010 - 12:35 PM.

[arbman]

Stalling at resistance, I sold half, stop at new lows. I am letting the rest either run or bust...

[rkd80]

You guys watcing EUR/CHF? Once 1.4005 breaks, it will be good night equities until some kind of bottom is established there. In terms of whether it will break, the pattern looks like a continuation as opposed to bottoming.

[thespookyone]

Bought ES at my target of 1114 Arb. If we see another low before 1140. I think it's marginal-so I bought my target in case there is no new low first-as per the conversations here-that's kind of up in the air for me so far, as well.