MKT is VERY VERY WEAK

the fact the ES could not hold the 1335 1340 area speaks volumes this abcde corrective pattern which commenced on jan 23 is done and the new wave down has begun this move which peaked on 03/24 has been slow and kept people complacent i expect it to pick up steam much like it did when it rolled over on 12/26/07

I guess Fed or BoE said this week that they were not going to actually buy any of the mortgages or something along those lines, which was in complete contrast than the image given from last Monday. It was obviously a crash prevention gimmick during the triple opex week. They quickly changed the language this week, I am not sure how much more they can manipulate the markets, perhaps it was an attempt to prevent the excessive speculation because they will end up buying, there is no other way out, what's going on is an undercover nationalization of all bad loans, but the problem is probably bigger than the central banks...

You guys have no idea......this board is useless...what a bunch of Yahoo'ers...LOL I've finally got the right idea... .............no idea's ...other than my own....this board will kill you. ....Just a heads up...if spx can't close over 1331 monday....run ....run hard...don't look back..

Edited by Teaparty, 28 March 2008 - 07:06 PM.

Oh, I dunno Tea... I think I have a pretty good idea... even if it's not bullish and popular.

if spx can't close over 1331 monday....run ....run hard...don't look back..

Yes I been looking at those monthly charts myself... same applies to Nasdaq 2271...

Welcome back...

Edited by SemiBizz, 28 March 2008 - 07:08 PM.

You guys have no idea......this board is useless...what a bunch of Yahoo'ers...LOL
I've finally got the right idea...
.............no idea's ...other than my own....this board will kill you.
....Just a heads up...if spx can't close over 1331 monday....run ....run hard...don't look back..

1332 pivot is basically gone here... 50 points lower is more likely now... I still like to see one more rally higher on Monday before a test lower, but it seems like it will be a retest of the pivot only...

BTW, there is an insane volume in the june gold contracts, some must be thinking the printing press will fall no short of the deflationary forces...

(Edit: I would like to actually see whether the pivot will be gained back from here, this is still a low volume sell off and you could say it is still a retracement)

Monday will be pivotal. Thanks for your compliments...

I guess Fed or BoE said this week that they were not going to actually buy any of the mortgages or something along those lines, which was in complete contrast than the image given from last Monday. It was obviously a crash prevention gimmick during the triple opex week. They quickly changed the language this week, I am not sure how much more they can manipulate the markets, perhaps it was an attempt to prevent the excessive speculation because they will end up buying, there is no other way out, what's going on is an undercover nationalization of all bad loans,...

My thinking is they can only go to the well they used with the Bear Stearns situation once..at least openly. It would be very difficult, especially in an election year, to get the people behind this becoming a regular thing. Most, don't like the idea of bailing out the ibanks now. They see it as bailing out the super-rich at the expense of "normal" people trying to make ends meet in an inflationary environment.

...the problem is probably bigger than the central banks...

It IS bigger than the central banks or, at least what they can directly do. That is what I've been saying since I first started ringing the alarm on this calamity.

Edited by milbank, 28 March 2008 - 07:24 PM.

You guys have no idea......this board is useless...what a bunch of Yahoo'ers...LOL
I've finally got the right idea...
.............no idea's ...other than my own....this board will kill you.
....Just a heads up...if spx can't close over 1331 monday....run ....run hard...don't look back..

The battle at 1330 has been fun to watch. I was keeping score today..... 1329.83, 1331.23, 1328.23, etc.

The weekend (or should I say weakend) has a long way to go but, I'm not optimistic about seeing 1331 or more by the close Monday. This day did not go well for the bulls considering we are a day away from the end of the quarter. In fact, outside of that pop due to speculators in the last few minutes, the afternoon, especially the last 60 to 90 minutes, was absolutely dreadful.

Hard for me to be that bearish. Today's volume was lackluster... I'm thinking they are saving it all up for a last ditch effort to rescue the market on Monday from Armageddon that will be confirmed by not closing green on those monthly candles... Just another great shorting opportunity setting up is all though...

Hard for me to be that bearish. Today's volume was lackluster... I'm thinking they are saving it all up for a last ditch effort to rescue the market on Monday from Armageddon that will be confirmed by not closing green on those monthly candles...

Just another great shorting opportunity setting up is all though...

It was interesting to watch CNBC advertise "A Monday you will always remember".