14 replies to this topic

[hiker]

fyi, something about SPY 154.20 looks important today..whether a move above or it holds as intraday R. prior close was 154.75.

Edited by hiker, 18 July 2007 - 08:05 AM.

[thespookyone]

Saw this, this morning: "``We've seen a very steady slide in the underlying inflation rate,'' said David Kelly, economic advisor for Putnam Investments LLC in Boston. ``That must be a lot of comfort for the Federal Reserve.'' One thing that hasn't changed is the spin, yea, I imagine the Fed is feeling "real comfortable", lol. It is the preparations like this that can add a bit of fuel-my guess is that Ben doesn't say he's feeling "a lot of comfort" in the inflation arena today. Much like the "here come the great earnings" stories, letdowns in created perceptions-bring disapointment.

[skyymaster]

Yes, it was the infamous 8 hours of bearishness. 8 hourly bars on the ES 24 hour chart, which has marked the low so far. So far what we have done is the retest of the breakout area around ES 1546. Since the cash market hasn't got a chance to test it yet, chances are very high that we may retest that low on ES in the regular session. The chances of not testing it is low, but nevertheles a possibility that should be on the back of every bears mind. You never know, a huge gap-up can change everything - sentiment, momo, trend....... Let's see what the CPI brings here.

Until we have a daily close below the breakout area, odd favour a resolution to the upside. Sentiment is absolutely amazing. We had a breakout just 2 days back, which caused a lot of pain for the bears, who got caught in that squeeze. Two days later and after a mere 15 point drop, they are already getting ready to play another top. Is anyone looking for a bottom ? Like da_cheif says, fear of heights is rampant. Too few seem to be comfortable playing in this high mountain thin air. I love this game....

That "breakout" could turn into just a fakeout.

"Could" be genuine too.

Nav, do you know a charting site that offers the ability to put up a 120 minute window. I am trying to learn but can't do it with the charts I have access to. The most it goes to is hourly

"Could" represnts HOPE. I trade "What is", not "what should/could"

CPI is irrelevant.

Everyone knows it will be as or better then expected. Everyone knows inflation is "low".

This isn't about CPI, but about credit.

I agree CPI is irrelevant. But the CCI isn't


Holy Shmolly! The 120-min CCI is at -340 ! .

If you are looking for a free one, try www.Prophet.net. Most of the paid ones offer that capability like e-signal, tradestation, etc

Thank you

[eminimee]

I find it tough to turn bearish looking at these two bullish counts....I could turn bearish below the line marked

http://stockcharts.com/c-sc/sc?s=$SPX&p=D&yr=1&mn=2&dy=8&i=p91720685126&a=90931516&r=6412.png







And short term..................







http://stockcharts.com/c-sc/sc?s=$SPX&p=15&yr=0&mn=0&dy=21&i=p69353616156&a=109883924&r=4041.png

[skyymaster]

I find it tough to turn bearish looking at these two bullish counts....I could turn bearish below the line marked

http://stockcharts.com/c-sc/sc?s=$SPX&p=D&yr=1&mn=2&dy=8&i=p91720685126&a=90931516&r=6412.png







And short term..................



Yeah, but that is the point when they will turn it up LOL



http://stockcharts.com/c-sc/sc?s=$SPX&p=15&yr=0&mn=0&dy=21&i=p69353616156&a=109883924&r=4041.png