12 replies to this topic

[NAV]

The momo just died. Ideally for the wave 3 of 3 scenario i presented, we should have just gapped up and run. It did not happen. It's still not too late. But, unless we see a significant acceleration into the close, the next hourly sell will turn into a disaster. Cuz without a significant acceleration here, my daily will move into a sell by EOD. So, put in me in the category of a cautious bull here, rather than a raging bull that i was in the morning.

[skyymaster]

The momo just died. Ideally for the wave 3 of 3 scenario i presented, we should have just gapped up and run. It did not happen. It's still not too late. But, unless we see a significant acceleration into the close, the next hourly sell will turn into a disaster. Cuz without a significant acceleration here, my daily will move into a sell by EOD. So, put in me in the category of a cautious bull here, rather than a raging bull that i was in the morning.

No problem. Thanks for the update. Things change and we have to remain flexible if we are to survive. That's what makes us better at not being fooled and broke.

[LarryT]

The momo just died. Ideally for the wave 3 of 3 scenario i presented, we should have just gapped up and run. It did not happen. It's still not too late. But, unless we see a significant acceleration into the close, the next hourly sell will turn into a disaster. Cuz without a significant acceleration here, my daily will move into a sell by EOD. So, put in me in the category of a cautious bull here, rather than a raging bull that i was in the morning.

Thanks for the momo update, cash has to hold here at the 1550 area then hit 1560 for my pattern, shorting the futures as close to 1570 as possible.

LT d:^)

[DraggdOut]

cash 1555 is the line in the sand. they seem in no hurry to want to let us cross it, this week or next.

[Pabst]

The momo just died. Ideally for the wave 3 of 3 scenario i presented, we should have just gapped up and run. It did not happen. It's still not too late. But, unless we see a significant acceleration into the close, the next hourly sell will turn into a disaster. Cuz without a significant acceleration here, my daily will move into a sell by EOD. So, put in me in the category of a cautious bull here, rather than a raging bull that i was in the morning.

I see the same thing. The measurement and pattern off of yesterdays lows could have produced a 7/12 type move. Now it could just be an equal distance chop like we saw a couple of weeks ago. I'm not going to be shocked if we trade 1542 (ES) again to-morrow.

[hawkeyefan]

We may be in 4 from the low yesterday already.

[SemiBizz]

I would not be too worried here. The main thing to watch is the Nasdaq. Yes we gapped up and made a new high, now we are sideways on HIGH VOLUME building cause. I expect that we're going to gap again tomorrow. I would not be surprised to see a BIG GAP UP... and a high around 2751 tomorrow. It appears also to me that we're going to keep going higher now until 7/27 and my target for the move is a test of 2892 the monthly high volume high... that's a long way from here and a lot of gaps... Go ahead call me crazy.

Edited by SemiBizz, 19 July 2007 - 11:16 AM.

[ogm]

"3 of 3" thats crazy talk. The rally is choking.

Now "7 of 9" ... thats the stuff

Edited by ogm, 19 July 2007 - 11:14 AM.

[Darris]

News at Noon goosed the futures a bit, and we have Fed mtg minutes at 2pm. The Fed news release has initiated volatility in the markets the last few months. A push thru 1566 ES should hit enough stops to get to the 1570 level, and then we can see what happens after 2:30pm.

[NAV]

News at Noon goosed the futures a bit, and we have Fed mtg minutes at 2pm. The Fed news release has initiated volatility in the markets the last few months. A push thru 1566 ES should hit enough stops to get to the 1570 level, and then we can see what happens after 2:30pm.

I agree. That's my thinking too.