orderly pullback?

volume is not that great...vix is moderate....3/8 retrace of the lase swing at 1060s... HFT machines are doing their jobs...

I think the close will be around 1057-1060, but I am just being me, not a trading advice...

Edited by arbman, 16 July 2010 - 01:30 PM.

I think the close will be around 1057-1060, but I am just being me, not a trading advice...

Do you think shorts going to hold over the weekend?
With TRIN at 4 and after a OpEx week, there may a gap up Monday morning as many need to buy for the assignments.

Edited by redfoliage2, 16 July 2010 - 01:43 PM.

I think the close will be around 1057-1060, but I am just being me, not a trading advice...

Do you think shorts going to hold over the weekend?

I think shorts are going to hold into the next month, they just had a great entry this week, I actually think the longs will liquidate ahead of the weekend.

So, a squeeze will eventually come, but this squeeze setup doesn't seem enough to me beyond a few points. The call buying that happened at the middle of the day was obscene. Perhaps somebody knows something, but I don't want to bet for upside while the market trades below the critical levels now.

They really took the market down below its major IT support in my analysis, I posted. I will most likely sell short if a bounce doesn't recover over 1075.

Edited by arbman, 16 July 2010 - 01:45 PM.