Option #2 is in play

Does anyone think we go straight to new lows from here??? I know most think this is pullback, but I am looking at a nice pattern developing in currencies suggesting much, much more dowside.... Obvioulsy, the market will be our guide, just seeing what people are thinking out there...

If we do not see the equities recover around 1090s quickly, you may be right... 1075 or gap must trigger a strong rally. This can get very slippery to the downside otherwise, the sentiment setup suggests roughly the opposite though...

Edited by arbman, 15 July 2010 - 11:49 AM.

I think we have a good chance that we go down for a while from here. We need to see how far this pullback takes us. Currently 8-day MA is still below the 34-day MA on SPX and QQQQ. If we head down from here hard we could signal another significant leg down in equities. Short term we are overbought and need a pullback. My BDI analysis shows the rally we are having will not likely last past August 10th. Since it continues to fall lower and lower everyday, I feel it will pull equities with it. Barry

Does anyone think we go straight to new lows from here???

I know most think this is pullback, but I am looking at a nice pattern developing in currencies suggesting much, much more dowside....

Obvioulsy, the market will be our guide, just seeing what people are thinking out there...

I think we see new lows i just dont know if this or 1120 is the top.

There is alot of bears on rydex But i am pretty sure any up moves are just short covering. I ll let the market speak for now and see what it closes today.

If they close near flat it going to make a doji. the best is a formation of a triple doji. any surges there can be short with a big move to the down side.

I think we have a good chance that we go down for a while from here. We need to see how far this pullback takes us. Currently 8-day MA is still below the 34-day MA on SPX and QQQQ. If we head down from here hard we could signal another significant leg down in equities. Short term we are overbought and need a pullback. My BDI analysis shows the rally we are having will not likely last past August 10th. Since it continues to fall lower and lower everyday, I feel it will pull equities with it.

Barry

Yep...I use the 13e,37e with same results

Does anyone think we go straight to new lows from here???

I know most think this is pullback, but I am looking at a nice pattern developing in currencies suggesting much, much more dowside....

Obvioulsy, the market will be our guide, just seeing what people are thinking out there...

I think we see new lows i just dont know if this or 1120 is the top.

There is alot of bears on rydex But i am pretty sure any up moves are just short covering. I ll let the market speak for now and see what it closes today.

If they close near flat it going to make a doji. the best is a formation of a triple doji. any surges there can be short with a big move to the down side.

I am looking for S&P 980 by the close of Tuesday. Don't quote me on that. Its just an estamate. We have to break 1050 first though by Tomorrows close.

Does anyone think we go straight to new lows from here???

I know most think this is pullback, but I am looking at a nice pattern developing in currencies suggesting much, much more dowside....

Obvioulsy, the market will be our guide, just seeing what people are thinking out there...

I am playing this as a pullback, but open minded about new lows, given that the daily charts are still in a established downtrend. Too early for me to make that determination.

Does anyone think we go straight to new lows from here???

I know most think this is pullback, but I am looking at a nice pattern developing in currencies suggesting much, much more dowside....

Obvioulsy, the market will be our guide, just seeing what people are thinking out there...

I think we see new lows i just dont know if this or 1120 is the top.

There is alot of bears on rydex But i am pretty sure any up moves are just short covering. I ll let the market speak for now and see what it closes today.

If they close near flat it going to make a doji. the best is a formation of a triple doji. any surges there can be short with a big move to the down side.

I am looking for S&P 980 by the close of Tuesday. Don't quote me on that. Its just an estamate. We have to break 1050 first though by Tomorrows close.

I am looking for 980 as and yes we need to break 1050, I was think we get a big down tom, than down trend starts , we should carry down to 870. Or at worst 800 which should mark the final low for this year.

Unfortunately I am not getting any topping signals yet on my system. I am also suspect es will close around 1087-1088 flat at close. Than we have another gap up which will fail and mark the start. If es 1081 is not taken out today i think they will rally it back up today. So if you going to win it today es must be below 1080.

I seriously dont see that.

We are not ready for new lows!!!! We are likely in a bull->bear transition and there will be 3 weeks of bullish chop ahead. That is, we need to get overbought at some point before the bear leg starts, this sell-off from this morning is meaningless in the intermediate run. I am holding shorts from 2 days ago, but only because we were overbought.

Does anyone think we go straight to new lows from here???

I know most think this is pullback, but I am looking at a nice pattern developing in currencies suggesting much, much more dowside....

Obvioulsy, the market will be our guide, just seeing what people are thinking out there...

I am playing this as a pullback, but open minded about new lows, given that the daily charts are still in a established downtrend. Too early for me to make that determination.

I piggy-backed some TZA when the down volume picked up at 10:00 on top of the with the SDS I set up late yesterday afternoon. Sold them both 20 minutes later when the volume started dropping. I've been flat since then not wanting to take a position as the volume is almost non-existent. This hasn been a very treachorous couple of days.

Edited by milbank, 15 July 2010 - 12:50 PM.