Calm Before The Storm

It all seems so calm and harmless. One couldn't help but wonder....

Kinda looking at the same thing Tech, I was actually surprised the were able to bounce it as high as they did. (POMO) I have been short weelys for a couple days here and it just won't break, I'm in the Q's and the Naz has me a bit underwater. My initail plan was to sell at 1320 and reverse.... Getting nervous here though. I hope the current push lower breaks loose!

Kinda looking at the same thing Tech, I was actually surprised the were able to bounce it as high as they did. (POMO) I have been short weelys for a couple days here and it just won't break, I'm in the Q's and the Naz has me a bit underwater. My initail plan was to sell at 1320 and reverse.... Getting nervous here though. I hope the current push lower breaks loose!

It had all started last night.... Having monitored forex operation last night, I'd noticed signs of a well-timed "concerted" effort to reverse the inevitable "risk off" trades (selling) right after Obama/Boehner speech.

Rumor has it that the BOJ (Bank of Japan) was intervening last night. Charts look obvious. I'll try to post a chart later to illustrate my point.

The NDX is crooked. And, when it goes, it'll be fast and furious. You'd be just fine.

Yesterday's selling, as I had commented, was a yawner as it had been advertised well in advance (since the AH session on Friday). Today, the "stealth" selling didn't seem so obvious to most. So, we'll see what happens.

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EDIT: As an aside, this board had gone dead silent for over an hour. And, once again, as soon as I posted something.... Just wondering, definitely not bragging.

Edited by TechMan, 26 July 2011 - 11:31 AM.

Thats because some are waiting for someone who actually has a clue! LOL... Sure miss the O'l days at TT I'll tell ya that!

$Yen Update

Last night's low will be tested.

I mentioned a few days ago the support area from 1325-1330 ES. So far all we've done is test support and hold, albeit longer than I would have thought. Meanwhile, NDX trades well, and so do certain components like Aapl and Goog. IT

I mentioned a few days ago the support area from 1325-1330 ES. So far all we've done is test support and hold, albeit longer than I would have thought.

Meanwhile, NDX trades well, and so do certain components like Aapl and Goog.

IT

Well, that's the "calm" part.

As for the "storm" part, you might want to examine the internals of the NDX index. For appetizer, check out the negative divergence of the number of the NDX stocks above the 200 DMA.

Just for kicks call the week TM... I was looking at a bounce today that carried into fridays high for this run, then rolling over to a bloody aug. Ashamed to say based on bradley, and moon madness! I know, don't say it... But done very well on the moon phase's the last few swings... But now wondering if the bradley could be off a few days, and the moon madness is finally a non event. Also your thoughts RD if you see this.

Just for kicks call the week TM... I was looking at a bounce today that carried into fridays high for this run, then rolling over to a bloody aug. Ashamed to say based on bradley, and moon madness! I know, don't say it... But done very well on the moon phase's the last few swings... But now wondering if the bradley could be off a few days, and the moon madness is finally a non event. Also your thoughts RD if you see this.

Your call was probably as good as mine since I only use my Casey Anthony Index. :=) Seriously, for someone like me that's trading off 1-minute and 5-min charts, longer term forecasts like weekly or monthly really mean very little to me.

If I had to, I'd say we're going down for the rest of the week. But then, I don't even know where we're going to have dinner tonight.

Meanwhile, AMZN is up more than 6% after the earnings, but so is the Yen, which is bringing down index ETF's in the AH session.

Edited by TechMan, 26 July 2011 - 03:45 PM.