9 replies to this topic

[S.I.M.O.N.]

gdp number looks bearish for the mkt, 3days of fear for the price of one, gonna be a fugly friday.

[arbman]

Look at where SMH stopped on the 10 yr weekly chart by connecting the tops, now look at where it stopped at the 3 yr weekly chart by connecting the lows. The whole thing looks like a backtest so far, but if it pushes through it will be big, I'll tell ya, very very big. For now it might pull back to test it again, if it fails that second test, watch out below...

[S.I.M.O.N.]

Look at where SMH stopped on the 10 yr weekly chart by connecting the tops, now look at where it stopped at the 3 yr weekly chart by connecting the lows. The whole thing looks like a backtest so far, but if it pushes through it will be big, I'll tell ya, very very big. For now it might pull back to test it again, if it fails that second test, watch out below...

one things for sure, volatility about to spike big time,up and down, this is looking more and more like one big trading range, possibly all thru the summer.

[arbman]

Yes, I think it will be a very wide trading channel, if it gets any wider it will be a big correction though!

[skott]

what was the number? futures are holding up ok

[Tor]

my eyes have been opened. I am reluctant to say it, but this looks a very strong market and one which the bears are shorting all the way up persistently and consistently. i posted more onthis yesterday and those were the facts from scheaffers.

[S.I.M.O.N.]

my eyes have been opened. I am reluctant to say it, but this looks a very strong market and one which the bears are shorting all the way up persistently and consistently. i posted more onthis yesterday and those were the facts from scheaffers.

shorts have been completely crushed with ndx "breakout", we are seeing massive capitulation of overleveraged positions, a 180 of the early march lows where the longs were liquidated.

what was the number? futures are holding up ok

if the futures are pushing up in the 6-9pm(pacific) timeframe, gap down is in play.

[jjc]

gdp number looks bearish for the mkt, 3days of fear for the price of one, gonna be a fugly friday.

I agree, IMHO there is overnight risk in holding longs here going into the open and not much risk holding shorts. I am currently slightly short (handful of contacts) ES.

[CLK]

my eyes have been opened. I am reluctant to say it, but this looks a very strong market and one which the bears are shorting all the way up persistently and consistently. i posted more onthis yesterday and those were the facts from scheaffers.

shorts have been completely crushed with ndx "breakout", we are seeing massive capitulation of overleveraged positions, a 180 of the early march lows where the longs were liquidated.

what was the number? futures are holding up ok

if the futures are pushing up in the 6-9pm(pacific) timeframe, gap down is in play.

Yeah, but tops are totally different than bottoms.

[arbman]

shorts have been completely crushed with ndx "breakout", we are seeing massive capitulation of overleveraged positions, a 180 of the early march lows where the longs were liquidated.

That's what I am talking about, unless you sold short around Feb highs, the chances are any short positions should be stopped out by now. Did they get converted to longs? Maybe, if they had any money left, we are talking mainly about the option and futures speculators here, the money that the bulls can quickly grab and make use of it to sustain a trend. A pull back is probably in order...

- kisa