9 replies to this topic

[OEXCHAOS]

It's upon us. Any question about where we're headed by Friday? I'd say tomorrow morning is the last chance for downside. After that, the Bears are going to be hard put to make money until next week. There was no real optimism today, so there's no sentiment back drop to take the market down with either. Mark

[SemiBizz]

We have a couple of positive signals for tomorrow. SPX and Nasdaq both closed above previous session high. We're closer to the high of the last day of volume than we are the lows for both SPX and Nasdaq. I'd be more inclined to expect some follow through and then a test of those highs (1529.XX SPX & 2585.XX NAS). If that test comes on light volume, that could flip us right back down into a consolidation. The most important support number is 1511 on the SPX. As long as that holds, so does the uptrend.

[arbman]

30 mins option volumes...

Time (CT) eqcall eqput eqratio idxcall idxput idxratio totcall totput totratio
9:00 AM 131368 71628 0.545247 24297 51149 2.105157 155665 122777 0.788726
9:30 AM 105371 65895 0.625362 25290 75773 2.996164 130661 141668 1.084241
10:00 AM 73359 39167 0.533909 15237 37435 2.456848 88596 76602 0.864621
10:30 AM 59998 43617 0.726974 40303 34963 0.867504 100301 78580 0.783442
11:00 AM 55951 30665 0.548069 35761 43741 1.223148 91712 74406 0.811301
11:30 AM 59738 31162 0.521645 25030 45072 1.800719 84768 76234 0.899325
12:00 PM 55552 29278 0.527038 10409 74769 7.183111 65961 104047 1.577402
12:30 PM 43477 22706 0.522253 32271 40508 1.255245 75477 63214 0.837527
1:00 PM 53640 28145 0.524702 11787 26170 2.220243 65700 54315 0.826712
1:30 PM 43209 22614 0.523363 19694 49606 2.518838 62903 72220 1.148117
2:00 PM 48324 21347 0.441747 16733 19650 1.174326 65057 40997 0.630170
2:30 PM 62105 30866 0.496997 13493 24219 1.794931 75598 55085 0.728657
3:00 PM 68742 59651 0.867752 12498 41705 3.336934 81240 101356 1.247612

The equity options were generally bullish but also right ahead of the decline today, that red surge in the index puts pretty much marked the bottom. Whoever shorted aggressively at the close either must know something or nothing, and that's probably 'nothing'. I would go with the direction after the first hour in the morning for the rest of the day since there is the breath momentum leading from Nasdaq issues instead of NYSE, it needs to be a pretty steep sell off from here. So, it can pull back one more time, but then probably higher...

- kisa

[SemiBizz]

http://bigcharts.mar...&mocktick=1.gif



Nasdaq has done nothing wrong here, it should test Thursday's high on perceived lighter volume and give it up. Keep in mind Fed Notes release at 2PM. The market did not like the Fed action on May 9th and we had a reaction to it on 5/10... we could see a deja vous of that. Up into the announcement then down hard.

[thespookyone]

With the news that lies ahead tomorrow and Thurs, I wouldn't consider window dressing a lock. They smash windows as well.

Edited by thespookyone, 29 May 2007 - 07:52 PM.

[thespookyone]

Semi: I'm not so sure what the market has done right here, either. With the last two days LOW volume candles fully inside the HIGH volume drop on Thursday, I expect the candle to break out to the downside tomorrow, not up.

[The End]

Semi: I'm not so sure what the market has done right here, either. With the last two days LOW volume candles fully inside the HIGH volume drop on Thursday, I expect the candle to break out to the downside tomorrow, not up.

I agree. We shall C.

[redfoliage2]

Window dressing usually takes place at the end of a quarter for the quarterly statement. Why there is a EOM window dressing?

[OEXCHAOS]

All I can say is that "they" are REALLY trying to train us.

[thespookyone]

"Whoever shorted aggressively at the close either must know something or nothing, and that's probably 'nothing'. " Or maybe it was a "something" about the China stamp tax raise on stocks.