38 replies to this topic

[zoropb]

btw the largest fade so far I seen on a T. was like 4 times it tried to sell off big drops and worst was 36 points then no kidding all erased like a rocket up within 14 hours. That was amazing.

Edited by zoropb, 02 October 2013 - 09:00 PM.

[zoropb]

Red thanks for sharing interesting.

[arbman]

Still consolidating, but I agree this is not done with bottoming, 1660s would be a reasonable target as long as the market doesn't violate lower... There was lots of distribution over SPX 1690s, keeping the index firmly below 1700 and the cash market bounced 3 times now from 50 dma already. Even if the indices that hit new 52 week highs do not make new highs again, I think SPX should, perhaps a break below 50 dma and then a serious short squeeze...

[zoropb]

I agree on the short squeeze it would seem likely after a low soon. A lot of cross currents between the index's going on. Got to stay very alert both ways. Defiantly not like Jan1 to May high. btw one of the members who is always on the ball corrected me on the K4 odds it hits about 96.7%.

[andiron]

Z, it is Klimbing against the Kraken!

[zoropb]

btw it would not surprise me to see a run at the high from 2 days ago before a low either.

[zoropb]

Z, it is Klimbing against the Kraken!

It does that almost all the time a. in about 1 out of 5 cases it will go straight to target. Last week we had what 4 Good rallies against it before poof on the K5. you just are not use to them.

Hey maybe this one will be the exception for a change. After this many in a row I even say ok come on lose one.

Edited by zoropb, 03 October 2013 - 08:03 AM.

[SemiBizz]

Nasdaq cleared up it's hourly/daily discrepancy at the 3698 high I was talking about last week... Now SPX has some work to do down at 1674. After the Euphoria subsides.

[zoropb]

If we get over yesterday's high then the low of the week is likely in and we are looking at 1701 area+-2 for a high this week. At least at this point.

[zoropb]

Nasdaq cleared up it's hourly/daily discrepancy at the 3698 high I was talking about last week...

Now SPX has some work to do down at 1674.

After the Euphoria subsides.

No over yesterday = new low that simple and likely the K4 zone. If we do not get over the hump then we may be looking at the low of the week today somewhere down there probably in that K4 zone too. If I was long I would bail here and wait to see if we breach or not... may not be a fun ride down. Only giving up what 4-5 points. Looks like a good trade off to me.

Edited by zoropb, 03 October 2013 - 08:27 AM.