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ES: 5 up - 10 down - 15 up -LOL-
Gift this morning :)
You got to love this rampo... LOL I have to look at that signal chart, that is a jake creation. Put it on my last page of charts to study when I have time... boy are futures crazy. Traders market for sure... More gaps... looking like Bubba's mouth with all those gapo's...
Foot/Jake: Why not add the basic MACD and let the fastline cross confirm the signal.
http://stockcharts.com/h-sc/ui?s=$SPX&p=D&yr=0&mn=6&dy=0&id=p89344822498&a=239844907&listNum=1
I think, it could prevent some whipsaw.
Below 1228 SPX put on the bear claws
3 line break is lining up... Bears should want a couple more weeks of consolidation above 1300 SPX. The Fed did their QE stuff before when we had the double dip scenario, look at the last consolidation move and QE in Sept 2010... QE3 is on the table, but may not have any effect this time... rock and hard place with the Fed now
Foot > are you watching ES DX etc etc
Yep Seasonally bad
Generally the markets begin the 3 month slump now... with all the people looking at August 1st with Bradley, moons, planets and now with fundamentals, which is a big set up for downfall... 401K's are about to be deflated again and with the no consequence to selling, massive selling by baby boomers may cause this move to be exaggerated. All it would take is the words recession or depression..... Remember that the last downfall had unemployment rate at 6% now 9% which is actually more like 18% and another recession may send unemployment to Carter days. The chickens are coming home to roost... Banks are on a bear market, Sox is getting close to a sell, dollar is becoming a buy.. etc etc.
SPY 132.18 ES 1316.25 early & 08:30 report looms
Markets set ups
You will notice on the chart the three moving averages that create buy or sell signals.. If you notice that anytime the 80 MA gets below the shorter term moving averages we have strong moves up. Anytime that the 80 MA is above the shorter moving averages we can have strong moves up, like just what occurred, but best case scenario generally is consolidation waiting for the shorter term moving averages to catch up but odds are this move will fail so that longer term moving averages can move back to where they are healthier moves. So what occcurred the other day was mostly a short squeeze and not a real move. If you use the 15 min chart, the MA's are the 100, 320 SMA
Foot in mouth stuff :)
like right now, EU unravel, history in the making and all bad
re deficit etc
From what I read, nothing that anyone does at this point will make things better. Tax and spend will cause a downfall. Lower taxes and cutting spending will cause a downfall. The better of the two is the latter. I am a big time bear with the current leadership with the choices they are making. I look for the dollar to rally as the Euro drops like crazy, which will be a huge negative for the markets. An important market to watch is the DAX 7000 mark. Hopefully we can get some pro-energy politicians that will go after the huge energy reserves that our country has. This will produce so many jobs, cut costs and will produce a huge amount of money for the US. Simple solution to our economy that will keep the money from going to the idiots that hate us.
re Apple
That is my platform against the evil capitalist democrat company LOL. Tax and demonize all Dem businesses that make excessive profits. LOL Funny how the uninformed get excited about the oil companies who provide a driving force that is greater than anything that AAPL has produced. The uninformed will support anything that can promote their senses..... Take away an aapl ipad and we survive, take away our means of transportation and we collapse. Simple truth, but too deep for the left to understand because it isn't on a bumper sticker or one of their slogans...."Think Energy independence" in my bumper sticker for America.
I like it!!!
Foot, we already have that tax. It's called the lottery or tax on people with poor math skills
You got me - great short video
I don't believe anything that this prez says, it's just words.. I know they are itching to get away for vacation.. LOL This is all about vacations... LOL All the dems voted against increasing the debt ceiling in 2006 along with Bama... now they are for it...
Obama in 2006
what's the time stamp on that ??
Nope, short term debt ceiling
Hope and Chains....
I want to go to the Hamptons
?? Japan trade data ??
Boy futures really reversed
Went to dinner and came back... had to check the news to see if Washington came up with a good lie for us... didn't see it, but bama is talking about a short term fix so they can go on vacation... The Hamptons are calling them home.. LOL
Hey Jake!
Had to tone that one down to read it. LOL I thing the guru black light charts only work when it isn't too busy. I will take a look at those indicators, later tonight, The Middle comes on a 8 pm so I have to stop charting and watch that great show...
In regular view
the Ratz are very busy In AH, ES back to 1324 level
FOOT -
What say ye???? I even kept the "Night" background. I ran out of options for price so I couldn't place any horizontal lines on the bottom indicator. The extremes on that indicator would be around 1000 and 500 but it doesn't hit the extremes as well as the other two anyway.
http://stockcharts.com/h-sc/ui?s=$SPX&p=D&yr=0&mn=6&dy=0&id=p99064116729&a=239798287
My signal also turned back down and it looks like some of the indicators are growing weaker to me...
Looks like the SPY 60 has double topped, and is creating a not so bullish daily stick in doing so. Let's see how they close it.
What has happened to us is the daily chart has turned up which makes it very difficult to hit lower 60 min targets...So we have to ride out a topping on the daily chart unless of course the market decides to turn back down from here ...It is a tough read right now..I have stayed out of the market yesterday and today...
GLENO34 I still have a down call. Maybe stronger than before.
Maybe a little sell off into the close??
I just got a cal lfrom a buddy in Wichita Kansas who said it was so hot and dry that he saw a mosquito carrying a canteen...He also said the Catholic church was praying for their wine to be turned back into water...
Signal valid again...We are just not moving enoug now..just whipsaw city here..so I will not post another target until we get a new target for the 20MA instead of the 10EMA we have now...unless I miss it goofing off...Just now got my new Puter delivered...Have to now wait for the monitor...Could be here tomorrow or Friday at the latest..
Direction Change...I was gone for an hour and we have now negated the down signal on the 60 min chart...It is stil very close to a down..but we are getting whipsawed here today..Just have to get the 60 min chart extremely OB and we have not doen tha tyet...
We are now dancing on the 100MA..Need to drop below...
http://stockcharts.com/h-sc/ui?s=$SPX&p=60&yr=0&mn=0&dy=15&id=p67435094368&a=121806161
GLENO34 Great. My 60 min. trend is also down.
OK..No problem..
No. When price on the 60 min chart moves above or below all the MA's I use then I have to move to the next longer chart...Right now price is above all MA's on all other timeframes so I do not have a up target...only up signals on the longer term charts..So now we got a down signal on the 60 min chart so that is what I'm calling for now..A move to the 10EMA on the 60 min chart..Sometimes it takes a while to hit the targets so we need patience to wait for the targets to be hit...The longer we wait the higher the MA wil be also..so price will be higher than when I first called the target but the MA will be hit and that is how my system works...I know it gets confusing..but not to me..
GLENO34 If you could start every post that shows a change in direction on the 60 with something like "6O direction change" it would make it easy to follow. Just a suggestion.
Edit again Glen34 - So what you are saying is that your targets only really matter when based on the 60. The target on the 60 right now is for down. I know you said it was for down earlier this morning. Post 1619 Has it been for down all morning today?
Now I see on Post 1614 you got the signal on the 60. GOTCHA
POKER..I just watch the 60 min chart mostly and I trade on it's signals..When we get above all the MA's I use on all timeframes then I just start guessing as does almost everyone else..We now have a down signal on SPX and that is what I am basing my target on (call)...The target is for a move to the 10EMA now at 1322.63..
I have to leave the up targets now to you and others who have a system that does that..
GLENO34 - So your last call is for down? Dose this mean your last calls for up are no longer in force?
EDIT...The 15 min BB's are going to pinch together within the next hour or so...and the MACD HISTO 65,90,12 is way above zero and wil want to come back to zero..So yes I think you are going to see some down here soon...Uh Oh ..I put a time on it...
http://stockcharts.com/h-sc/ui?s=$SPX&p=15&yr=0&mn=0&dy=15&id=p47248872720&a=197648760
Better View..
http://stockcharts.com/h-sc/ui?s=$SPX&p=15&yr=0&mn=0&dy=4&id=p90095411360&a=197648760
ADV/DEC says currently nothing getting overly extended - probably more up to come - what's new?
http://stockcharts.com/h-sc/ui?s=$SPX&p=60&yr=0&mn=2&dy=0&id=p22372985658&a=239611650
Thanks Gleno. Looks like it is on the tipping scale of opportunity to me. I agree that earnings will tell us. If Bidu breaks 156, it is clear skies ahead. If it can't break 156, great short entry.
Turning over now
We should know soon if this is going down or not... everything sits on the close from last night.
LOL - EXCELLENT!!
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