How does this sound

A high tomorrow around SPX 1151-1156 and lower into next week then one more rally into my high date remaining 29th+- Oil around 80 Before next drop into 71+- March Wheat closes the 510 gap and then final drop.

A high tomorrow around SPX 1151-1156 and lower into next week then one more rally into my high date remaining 29th+-

Oil around 80 Before next drop into 71+-

March Wheat closes the 510 gap and then final drop.

Interesting

Any target for today close (SPX)?

Edited by .Blizzard, 20 January 2010 - 12:13 PM.

As long as the $BKX holds up, this is just a retracement. Year End Gap Ups were filled by leading indices Nasdaq and $DJT today. But as long as those banker dawgs hold up, you will probably be fine. I'd keep a very tight watch on $BKX though. If it does give it up, not going to be pretty.

Z, I think we will close around mid 1120s today and test 1131 or a tad higher before accelerating lower. I think this is a really dangerous setup, we should see a late October like resolution here. Perhaps tomorrow we shoot as high as 1144, but I do not think it will go past there and it should most likely reverse the gains intraday. I only see a series of gap fills coming up, there is also a chance that we may see 40-50 points drop by next week to 1080-1090 zone! I will also iterate here that I still think the breadth thrust from the holidays was an anomaly even though we had more new 52 week highs. I examined the issues making new highs and they were all stagnant issues that rallied very late in the second half of the year. Many banks still failed to make much of a progress since last summer and it looks like the bank rally was a big squeeze. I am going back to my corner, but a large decline here is not being anticipated by the majority and this is why I think we may see a horrendous and fast decline. I am not as bearish as I sound here for 2010, however I see huge risks of trying to be long around here, we need to have that attitude adjustment for several weeks before any rally of substance. People are still buying more calls here in my scans at the moment. We have 20 points upside for 80 points minimum downside potential. Best of luck.

I do not trade that long on the long side here Semi too chicken. I hit and run for 1-1.5 points as we go and not much past the 38er on the retrace after that I wait for the short set up and barbecue the pork. Blizz no clue but a wild hail Mary guess 1137.50+

Sounds familiar ! I must admit I'm a bit in the fog VST as conflicting spesi are trying to develop. Good luck with grains, I would wait...

Z, I think we will close around mid 1120s today and test 1131 or a tad higher before accelerating lower.

I think this is a really dangerous setup, we should see a late October like resolution here. Perhaps tomorrow we shoot as high as 1144, but I do not think it will go past there and it should most likely reverse the gains intraday. I only see a series of gap fills coming up, there is also a chance that we may see 40-50 points drop by next week to 1080-1090 zone!

I will also iterate here that I still think the breadth thrust from the holidays was an anomaly even though we had more new 52 week highs. I examined the issues making new highs and they were all stagnant issues that rallied very late in the second half of the year. Many banks still failed to make much of a progress since last summer and it looks like the bank rally was a big squeeze.

I am going back to my corner, but a large decline here is not being anticipated by the majority and this is why I think we may see a horrendous and fast decline. I am not as bearish as I sound here for 2010, however I see huge risks of trying to be long around here, we need to have that attitude adjustment for several weeks before any rally of substance. People are still buying more calls here in my scans at the moment. We have 20 points upside for 80 points minimum downside potential.

Best of luck.

Arbs nice to have you out of the cave for a luminary visit.

You may be correct I do not know I'm just staring at my charts. I am neutral for 2010 but once we do the pop from the correction in Feb-March probably rally into Aug- Sept. It's BEAR IS BACK time!

If the food problem is even half as bad as I think it will be sheesh. I wrote about this problem coming this decade back in late 02 early 03 here. Do not know if anyone of the older members remember this topic but I did. Even made jokes we may have to learn farming as well as charting. Well we are here. The perfect storm is brewing for basic food and it will take down the best of plans across the board. Wars come out of these messes. Man if ever I wanted to be wrong is on this one. (well after a good rally of course )

Tomorrow rally American Express Company AXP 0.56 After Market Close Add Listen Goldman Sachs GS 5.2 Before Market Open Add Google GOOG 6.45 After Market Close Add

Sounds familiar !
I must admit I'm a bit in the fog VST as conflicting spesi are trying to develop.
Good luck with grains, I would wait...

Ess I am pretty sure we get another down move from a small pop here on wheat but it is getting close and started working my positions to what I want. I stair step the position until I get a pretty good entry and make a buck while I am at it. Not easy to explain. Sometimes I get too cute and miss half etc. But I tend to catch 75% of what I want most of the time and in with a small profit or almost even entry. It is a lot of work but if it was easy...

Bottom line I got 1 to 13 odds here to the long side and at worst 2 to 1 Ess You do not get those everyday for the IT.

Edited by zoropb, 20 January 2010 - 02:08 PM.

Ess remember last year when I was saying oil will go to 61 when it was 39-37. Yeah it went to 32 but look where it got to. it ended up being 9 to 1 from 38. Same story here on Wheat it's do not get too cute time even if you buy in little chunks. I cannot find anything cheaper. (I love deals).