46 replies to this topic

[zoropb]

They can run it to sub 64 without killing the downside after. Ok cya for a bit

[SemiBizz]

I reckon they will try to push this back up into that 1646-53 area tested overnight again... ESM that is.

[tommyt]

I dunno how you can look at that Nasdaq Chart from 2010 on this same thread and make a conclusion that crashes can't come off the top...

Semi

Here is QQQ 2010, I'm sure it had a volume surge off of that first high, but it did have 3-4 days of backtick before it broke the trendline

QQQ

[SemiBizz]

So I do not use ETFs as anything more than a verification tool, and even then I am always suspect. The primary source for me is the index itself. The problem with the ETFs is they are used as hedges, giving you noise in the signal. However... Look at how wide the spread is here between ESM and the SPX Cash... The futures market is usually "smarter" than the cash. I am intrigued by this action.

Edited by SemiBizz, 23 May 2013 - 10:28 AM.

[gameover]

snowballs chance in hell this is a top new highs by the close tomorrow a green close today is a cinch at this point then, tonight when the nikkei gaps up 500 world markets will rejoice

[SemiBizz]

You better hope so if you were long 37 handles higher yesterday... Nothing would surprise me on the light volume we should have tomorrow... Nothing. Nevertheless, the sign of weakness is in the books now, it's in the chart. Like an ugly scar... Going to take some time or distance to heal.

[SemiBizz]

Another wild one tonight perhaps... Day is closing Stock Futures going back into "JITTER MODE" Dead Cat Bounce today on lighter volume.