Blow Off Dead Ahead
#1
Posted 31 October 2010 - 09:54 PM
#2
Posted 31 October 2010 - 10:02 PM
Will next week be that big white candle seen at the April top?
It may happen but seems like most are expecting it.
Have a great weekend then get out and vote early and often.
http://stockcharts.com/c-sc/sc?s=$SPX&p=W&yr=1&mn=0&dy=0&i=p74034778446&a=207728465&r=6026.png
Edited by Rogerdodger, 31 October 2010 - 10:02 PM.
BIGGEST SCIENCE SCANDAL EVER...Official records systematically 'adjusted'.
#3
Posted 31 October 2010 - 10:10 PM
we believe that the market will end this current rally phase not with a whimper, but with a "bang"....and that "bang" could be a rather spectacular upside blow off.
The market, as always, will be our final arbiter....and of course if and when it goes to SELL mode, so will we.
Good Trading, D
Agreed, the stops between 1195-1220 could carry this market to 1250-1300 in a heartbeat.
#4
Posted 31 October 2010 - 10:11 PM
The final nail in the bear's coffin and/or the end of the rally will occur when they finally get a bid under this one or not... and this will either be the rocket fuel they need or an explosion in the engine room...
http://bigcharts.mar...&mocktick=1.gif
If the banks are no good... the equities aren't going to decouple from them, you can forget that...
Richard Wyckoff - "Whenever you find hope or fear warping judgment, close out your position"
Volume is the only vote that matters... the ultimate sentiment poll.
http://twitter.com/VolumeDynamics http://parler.com/Volumedynamics
#5
Posted 31 October 2010 - 10:49 PM
rsi14 appears to be more oversold than in last april high!
also nysi,spx in sell mode
One may watch out es marketers!
Edited by vitaminm, 31 October 2010 - 10:56 PM.
#6
Posted 31 October 2010 - 11:00 PM
http://stockcharts.com/h-sc/ui?s=$SPX...id=p77694785860
rsi14 appears to be more overbought than in last april high!
also nysi,spx in sell mode
One may watch out es marketers!
http://stockcharts.com/h-sc/ui?s=$SPX...id=p31142442843
Edited by vitaminm, 31 October 2010 - 11:03 PM.
#7
Posted 31 October 2010 - 11:03 PM
Everyone agrees what flag that is? Oh, wind changing shift like an about-face, I know.
Swing Those Lines: I can calculate the motion of heavenly bodies, but not the madness of people! -- Issac Newton
#8
Posted 31 October 2010 - 11:39 PM
#9
Posted 01 November 2010 - 01:02 AM
Yep, needs a blow-off to top over that double line crossing pressure from above. Can it do it? Volume pattern says, 'doable'. The similar price consolidating formations marked by two vertical blue lines, indicating they are situated in similar volume 'roof end' structures. Any increasing volume can carry it jump over to another new roof. But failing is the norm here.
Ooops, did I say 'norm'?! Dxrn it!
Swing Those Lines: I can calculate the motion of heavenly bodies, but not the madness of people! -- Issac Newton
#10
Posted 01 November 2010 - 05:05 AM
From our weekend comments at SS.com:
For the reasons detailed above we believe that the market will end this current rally phase not with a whimper, but with a "bang"....and that "bang" could be a rather spectacular upside blow off. We are long TNA and will look to further ramp up our long positions in a rather aggressive manner Monday. As always, as we trade aggressively this week we will keep stops relatively close, just in case the market has other designs. The market, as always, will be our final arbiter....and of course if and when it goes to SELL mode, so will we.
Just to quickly recap our read:
1. Seven Sentinels still on buy mode since early September
2. JAWS sentiment indicator matching most bullish readings of 2009 and 2010
3. No short capitulation...yet. Still to come.
4. Narrow range last week portends big move ahead....and we read it as *UP*
5. Election & Fed dead ahead
Good Trading, D
hold it ....hold it.... hold it............
let the market open first