The rally up from the July 1st low is undergoing it's first real correction. The top is not in yet, and it would appear that this correction will play out over the next 2-3 trading days.
I'm currently short. Looking at various stocks, I see a gap up to the recent high that will probably get filled on the way down.
SD
The best is yet to come
Started by
StenoDude
, Jul 15 2010 11:09 PM
5 replies to this topic
#1
StenoDude
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Posted 15 July 2010 - 11:09 PM
Time and Price baby!!
All of my predictions are based upon the Dow Jones Industrials and all times are given in Eastern Time.
All of my predictions are based upon the Dow Jones Industrials and all times are given in Eastern Time.
#2
arbman
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Posted 16 July 2010 - 08:00 AM
Similar thoughts, gap up will be sold for a low due around mid-next week. Critically, the market needs to remain roughly over 1075 next week...
http://www.traders-t...?...st&p=534494
http://www.traders-t...?...st&p=534494
#3
dcengr
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Posted 16 July 2010 - 08:27 AM
we got a gap down.. i don't think its filling today.
Qui custodiet ipsos custodes?
#4
arbman
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Posted 16 July 2010 - 09:16 AM
It would better be bouncing immediately or new lows ahead over the next 2 weeks. I am not sure how it can hold up better with such an horrendous start to the down cycle and people are still buying calls.
#5
arbman
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Posted 16 July 2010 - 10:37 AM
We have a set up for an intraday bounce, it has to recover well over 1075 now to avoid a carnage into the close.
Edited by arbman, 16 July 2010 - 10:37 AM.
#6
StenoDude
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Posted 16 July 2010 - 12:00 PM
And it just keeps going lower...we may not get the bounce till Monday.
Time and Price baby!!
All of my predictions are based upon the Dow Jones Industrials and all times are given in Eastern Time.
All of my predictions are based upon the Dow Jones Industrials and all times are given in Eastern Time.
