Would the Real Slim Shaddy Please Stand Up?

Geeezzz.....

Music Optional:

I had a post all ready to go saying that I was going flat and $SPX turned about 1 point from my line in the sand. I am seeing a mix bag of goodies but all in all less confident in my position but hanging in there....

Bullish:

1. SMH Double Fake Michael Jordan move (lets see where it closes)
2. Volume seems to be higher on (QQQQs at least)
3. Looks more like 3 waves down off $1386

Bearish:

Not much...still have not taken out yesterday's highs and until we do there is hope! Lets see how the rest of the day shapes up.


What are you guys seeing?

SL

dow, comp, spx, rut, ndx regained 5, 50 ema (at least for now) on volume, breadth is good. I'm watching the sox. Don't see a double head fake. Weekly looks like it wants to let loose. Made some money on the negative divergence last several days but looking long now. For now.

J

Geeezzz.....

Music Optional:

I had a post all ready to go saying that I was going flat and $SPX turned about 1 point from my line in the sand. I am seeing a mix bag of goodies but all in all less confident in my position but hanging in there....

Bullish:

1. SMH Double Fake Michael Jordan move (lets see where it closes)
2. Volume seems to be higher on (QQQQs at least)
3. Looks more like 3 waves down off $1386

Bearish:

Not much...still have not taken out yesterday's highs and until we do there is hope! Lets see how the rest of the day shapes up.


What are you guys seeing?

SL

If XLF ever gets above about 27.25, this thing could get explosive.

Edited by hawkeyefan, 10 April 2008 - 11:49 AM.

We are going higher. Vix is breaking trendline Bears are loaded and entrenched Put call is high Commodity breakouts intact (stocks: ie producers of commodities) Xle and smh are leading just like they have been since january I want to see 1360 hold on closing or else I smell a trap

Edited by CHAx, 10 April 2008 - 11:55 AM.

Bullish: Agree SMH bullish looking on daily...For bulls $SPX 1360 needs to hold (watch possible inverse head and shoulders on lower time frames (3 Day) Bearish: IWM, XLF, and $TRAN not so fresh..plus just did intraday double top on $SPX. Below todays open before new highs puts ball back in Bears camp. Just thinking allowed...

Bullish: Agree SMH bullish looking on daily...For bulls $SPX 1360 needs to hold (watch possible inverse head and shoulders on lower time frames (3 Day)

Bearish: IWM, XLF, and $TRAN not so fresh..plus just did intraday double top on $SPX. Below todays open before new highs puts ball back in Bears camp.


Just thinking allowed...

SL

On the trannies I have this: Obviously it holds tht 50 day and trendline break retest or not. Fairly low risk entry

GS, sorry I got you and SL confused on that Milbanks thread. Getting-Smarter and StillLearin. Similar theme there. I like your chart and short term I agree.

J

Bullish: Agree SMH bullish looking on daily...For bulls $SPX 1360 needs to hold (watch possible inverse head and shoulders on lower time frames (3 Day)

Bearish: IWM, XLF, and $TRAN not so fresh..plus just did intraday double top on $SPX. Below todays open before new highs puts ball back in Bears camp.


Just thinking allowed...

SL

On the trannies I have this: Obviously it holds tht 50 day and trendline break retest or not. Fairly low risk entry

No problem, I knew you meant me. Similar theme for sure. They say to surround yourself with the best which is why I am here....everyone leaps and bounds above me but I am learning......

Thanks.

GS, sorry I got you and SL confused on that Milbanks thread. Getting-Smarter and StillLearin. Similar theme there. I like your chart and short term I agree.

J

Bullish: Agree SMH bullish looking on daily...For bulls $SPX 1360 needs to hold (watch possible inverse head and shoulders on lower time frames (3 Day)

Bearish: IWM, XLF, and $TRAN not so fresh..plus just did intraday double top on $SPX. Below todays open before new highs puts ball back in Bears camp.


Just thinking allowed...

SL

On the trannies I have this: Obviously it holds tht 50 day and trendline break retest or not. Fairly low risk entry