ISEE Negative, TD REI Daily Negative

I'm thinking this a fake out rally today. May have bounced out of a 10 day, three week low. blu

I'm thinking this a fake out rally today. May have bounced out of a 10 day, three week low.

blu

I'm thinking so too. Adding shorts.

Put/call has been very low all day today even with dow down 90. Pisani is very excited that people are willing to "take more risk" despite worse then mediocre newsflow. I think we're ripe for a pullback.

Technicals are still up. But some things don't add up to continued upward move. Not without a pullback at least. I'm betting CSCO will help the bearish cause here.

I'm thinking this a fake out rally today. May have bounced out of a 10 day, three week low.

blu

I'm thinking so too. Adding shorts.

Put/call has been very low all day today even with dow down 90. Pisani is very excited that people are willing to "take more risk" despite worse then mediocre newsflow. I think we're ripe for a pullback.

Technicals are still up. But some things don't add up to continued upward move. Not without a pullback at least. I'm betting CSCO will help the bearish cause here.

I sure hope so.

I've still got targets higher that I'd "like" to see hit....one's at ES 1433ish and another above at 1442 spx....problem is...those targets are alive until we are south of 1375 on a close....I'd like to see one or both hit sooner than later however. I'm wondering where the threshold might be to turn some "on the fence" bears to full fledged bulls again. PS..I'm not long to play those targets by the way....scalping

Edited by Teaparty, 06 May 2008 - 01:23 PM.

http://stockcharts.com/c-sc/sc?s=$SPX&p=15&yr=0&mn=0&dy=10&i=p35675660658&a=109883924&r=1047.png

Tea... Since those last two moves appear to be 3 waves could we finally be setting up an ending diagnol into 1427/1433? SL

Tea...

Since those last two moves appear to be 3 waves could we finally be setting up an ending diagnol into 1427/1433?

SL

It would be the last leg of wave 5 of the big ED imvho...see the daily spx I posted earlier today...the one with nyad cumulative on it too....there were a bunch of charts....the ED would be finishing an X wave

Edited by Teaparty, 06 May 2008 - 01:52 PM.