last 3 days SPY has closed almost exactly at the same spot

Tomorrow we might break to the downside. Up again in afterhours of course. Very strange week.

machine can do wonders...

Tomorrow we might break to the downside. Up again in afterhours of course. Very strange week.

I am so confused. What is so strange about this week? We've a hard bull run and now have paused for two days with no real sell off. The SPX (and other indexes) has crossed the middle Bollinger band and is holding its ground. The NYSI is rising. It looks to me that the upper Bollinger on the SPX up around 1133 is still in play.

Of course the market can prove me wrong in an instant but either way what's so strange about it? We're going up and everyone thinks we should be going down? Is that what's strange?

Thats because despite the insane intraday volatility, this markets actually been UNBELIEVABLY PEGGED, especially if you look at the expiration weeks. Three straight months, assuming no larger than 1-2% index move tomorrow, that the spx will close right at this 1080-1120 range. We've actually been on the higher end of the range in may and june, but both fridays closed out almost identically around 1115. Someones been selling alot of S&P 1100 calls all july so wouldnt surprise me to see us stay below there and maybe head back towards 1080 tomorrow. But still, for a market with a VIX thats bouncing off of 25 as SUPPORT, and pricing in like 2% moves per close, to close three straight months' expiration week out within 1% or so of each month, and have 2 in the book almost identical, just tells you how pegged this market is. If you think about it, the peg itself is what makes it so volatile. SOunds dumb, but think about that one.... We have someone who's basically using 1100 as a magnet for the market, thats why everytime we venture away from it, the VIX explodes upward and we start having 300 point dow days in opposite directions back to back for a week. Then we turn back towards 1100, the vix retreats, and we inch back to there for options expiration. Having noticed this, you'd think I'd have joined the party by now and started selling hardcore out of the money options everytime we stray too far away from our 1100 wall street home base.

Tomorrow we might break to the downside. Up again in afterhours of course. Very strange week.

Nothing strange see what i told you i dont wanna waste my time and money holding the shorts...it was expected.

I use Bollinger Bands on NASDAQ Daily ( 20, .75 ). This gives bollinger band support and resistance. So far we have tested the upper band three times from below. From this point we should start our move down ( 65%, and 35% of Gap up and go ). Since NASDAQ decliners lead advancers 3:1 I'm betting on a sell-off. But early in the week we had a move higher as flow when from Large cap to small caps. I don't know if this will happen again tomorrow. We are starting to see McClellan turn lower as we hit the tops of the last three days as breadth is weakening.... AAII shows are large increase in bullish sentiment from last week to this week. This lessens the bullish upside potential.... Barry

Cha-ching, cha-ching

Tomorrow we might break to the downside. Up again in afterhours of course. Very strange week.

Nothing strange see what i told you i dont wanna waste my time and money holding the shorts...it was expected.

We may have another wave down before moving higher, I am seeing another flat top on the 30 MIN chart. This bodes for a down move. It is like someone is holding the market and it is very heavy they stumble about 10 or 15 bars , wahtever it took it to move it up and then swoosh.... the down wave......

GS.

http://www.screencas...4b-3825d77e3022

note spx chart arrows in june and now

http://www.screencas...4b-3825d77e3022

note spx chart arrows in june and now

Thanks lil.

I had to check this chart out considering you waited six years to post it.