58 replies to this topic

[SemiBizz]

So I see resistance for ES as 1510 here...

From Today's SPX Forecast:

Once again when we see volume deteriorate going higher, we suspect countertrend rally behavior, but as we have noted, these markets don't need volume to go higher. Today we got lighter volume and we got higher prices. The markets need strong and sustained volume to go lower, and once again this SPX could not hold a light volume pullback and drifted higher. Short term support now 1494, 1491, 1487, 1485 and resistance at 1499, 1503, 1511. So we lost price separation today on lighter volume, so the door is still open to higher prices. Also the DJIA closed at 13900, up 116 pts today, and that leaves the 14K window wide open.

[opinionated]

Yes same page with 1518 after pull back. But expect heavy short covering going into the close so anything is possible.

[SemiBizz]

Well... 13967 is the .618R. If she pukes 14000, then we could see another price rejection, lower low. Shorting the .618R rallies on a price rejection have been a money maker.

[opinionated]

You speaking cash? We always get crossed lol...

[zoropb]

should we hit 1509.75 on our middle one it points to 11.25+- mim. On bigger picture Bulls want to see 1512.25 hit that pushes us to 1515.75+- min.

[zoropb]

our small one again to fast to post here and there. last target was 09+-2 ticks always. we may be opening a retrace target.

[SemiBizz]

You speaking cash? We always get crossed lol...

Yep, US 30 Futures 14000 is a toxic zone, if we test that it's going to be on a burst to the upside from here.

[zoropb]

a 5.75 print sends us lower to test prob. 04.

[zoropb]

always es unless stated. oh semi btw hey T.

Edited by zoropb, 27 February 2013 - 11:37 AM.

[opinionated]

You speaking cash? We always get crossed lol...

Yep, US 30 Futures 14000 is a toxic zone, if we test that it's going to be on a burst to the upside from here.

Other things I look at say VST pullback from 1510.74 Then timing models suggest a strong up tomorrows open maybe pop and drop. Tempting TL at 1518 to test and will have to jump that creek to see higher. But I very much think we see my exit 10.74 today and might blow through it but my ticket gets punched on the first 1 min sell bar.