VST

above SPX 1100 we may have another 20 points on the upside; below 1080 we will see 1020 again.

above SPX 1100 we may have another 20 points on the upside; below 1080 we will see 1020 again.

shallow pullback then another leg up into the rally top .... no new highs.

Market weak after the first 1/2 of trading.... Decliners lead advancers 2:1 just like Monday. I'll wait until 11:00 to re-evalutate... Looks bearish intraday so far.

Technically, the rally should go as high as 1115 at least, measured by 45-50 points weekly range from this week's low point of 1070...

Technically, the rally should go as high as 1115 at least, measured by 45-50 points weekly range from this week's low point of 1070...

But if the range expands a bit more we might see up to 1125. which should mark the peak for this week..

I really see no poiny being short for now.

The trend of the range is down though naturally, the volatility has been diminishing since the sharp sell off. This is also the expiration week, the volatility is likely to continue to reduce... We need an upside catalyst and I think Intel failed to ignite, I would guess 1115-1120 range will be the top, maybe we see 1120s early next week ahead of a pull back. It makes more sense... ZN has been trying to bottom while ES has been trying to spike and take the early shorts, this usually reverses a bit here for a few points at least. ES is still below 1100, it needs to find a bit more support to rally over...

Edited by arbman, 14 July 2010 - 10:57 AM.

All you have to watch anymore is the dollar index. If it goes down, everything else goes up. Correlation between the s&p and nearly everything else is running 90% plus right now so it doesn't matter what you pick to buy. If the dollar bounces, then everything should go down. Simple system that works. Just need to get the direction of the dollar index right and nothing else matters here. Daily DX currently looks like a falling wedge to support. If it is, it 'should' bounce right about here. If it doesn't, then the party in anything other than the dollar is just getting started.

The trend of the range is down though naturally, the volatility has been diminishing since the sharp sell off. This is also the expiration week, the volatility is likely to continue to reduce...

We need an upside catalyst and I think Intel failed to ignite, I would guess 1115-1120 range will be the top, maybe we see 1120s early next week ahead of a pull back. It makes more sense...

ZN has been trying to bottom while ES has been trying to spike and take the early shorts, this usually reverses a bit here for a few points at least. ES is still below 1100, it needs to find a bit more support to rally over...

I am waiting like a hibernating bear for that area to come... easily 30 points to catch when it comes.

I watch the currencies as a system input, but they are too leveraged for me, I am happy with ES or ZN. I actually trade ZN quite often and I have a good feel about it...

above SPX 1100 we may have another 20 points on the upside; below 1080 we will see 1020 again.

In my work, there's no projection below 1080 at this point.