Caution... Bear Bait... Don't bite yet.

This last hour is shaping up to be an all-out assault. It sure looks to me like they are pushing down in hopes of washing out any weak day trader longs and sucking in some shorts for fuel in the last hour. There IS a lot at stake here, so don't count the operators out... volume is light, which allows them to move the price around like a hockey puck. I would not be surprised now to see a sharp decline followed up by a Federally-sponsored BLAST into the close. I could be wrong though... I'm planning on putting on small short at the end of the frenzy today if this develops....

This last hour is shaping up to be an all-out assault. It sure looks to me like they are pushing down in hopes of washing out any weak day trader longs and sucking in some shorts for fuel in the last hour. There IS a lot at stake here, so don't count the operators out... volume is light, which allows them to move the price around like a hockey puck. I would not be surprised now to see a sharp decline followed up by a Federally-sponsored BLAST into the close.

I could be wrong though...

I'm planning on putting on small short at the end of the frenzy today if this develops....

I was hoping for a fake down to finish the day, and a gap up tomorrow.

I may be wrong but I can see a wolfewave on the 10min chart that is targeting the 1310 area

I may be wrong but I can see a wolfewave on the 10min chart that is targeting the 1310 area

Yes, volume support is down that area too. I just have a hunch we're being setup. No worries. If we go down today, hope springs eternal... the bulls aren't going to quit buying and believing so I just wait for a quality of volume setup... this isn't it. Let's face it, there's a lot riding on this last hour, and they have that printing press and we don't

After reviewing intraday charts It looks like 2270/1314 could be tested for a bullish spring setup...

Edited by SemiBizz, 31 March 2008 - 01:52 PM.

Market is done. Any longs have till 3 PM to get out. Thats my take and I am sticking with it.

don't see anything in terms of sharp movements...small up and drift back...I'm long a number of things...not indices though.

if they had $30B to save Bear Stearns, they can scrape up a few billion to rescue 2008 here... and if they don't... that will set the tone.

Market is done. Any longs have till 3 PM to get out. Thats my take and I am sticking with it.

Yes, but it just seems like there are some more shorts above 1330 to squeeze first.

We should know by 3:16

So there you have it... a SPLIT MARKET. SPX Monthly 5 Red candles for first time since 1990... Nasdaq finished month GREEN.

Posted this weekend:

Now let's look at those two charts from a volume perspective to understand the relative strength. On Monday Nasdaq will need to do 2.5B or better to break the previous candle volume. That is not a done deal... on the other hand when you look at SPX, it has crushed the February volume... So SPX is going down on QUALITY of volume, while NAS, much closer to a green candle than SPX is not quite getting to par with the February candle volume....

Which says to me is to look for strength from a sold-out Nasdaq and further declines in the commodity, retail and banking sectors...