Yeah i was just discussing this with someone. nasdaq futures or /nq was at 80 rsi on a 5 minute when it was at 4203, now its at 4228 with a 65 rsi lol.

nasdaq 5 minute at 90 rsi, s and p and dow at 85, russell at 80

all markets have been above 70 rsi on the 5, 15, 30 minute all morning since the open.

yup, just don't trade it. Wait for the top and short and hold.

No way I'd buy here lol, 5 minute RSIs at 90 almost. Next stop is shorting these bloated turds. But thats not for a few days/weeks.

The pump is on boys, enjoy.

7.25 more dollars and I'll be reshorting haha.

A lot of new names popping up here, I'll take a gamble and add some tomorrow. Bids look like a good sign.

That's not what it looked like in October, I remember buying those 192's and thinking, "Jeeze, how much further can this market go down?" LoL. straight down.

I hate it when it's limp. Sorry to hear about that.

Why not do it tomorrow? 9$ on the spy in one day isn't that big of a deal. We can call it the Kwanza rally.

es fell through my first trendline at 2005, is working towards the second trendline at 1978 and I have a third around 1870.

es is around 5 pts lower than the spx.

Margin calls could be something fierce to all the santa claus buyers near the end of the day.

yup, looks like i was wrong there. I know it will turn back up at some point... but just not sure where. Thats why I think it's so hard to be the buyer in this market and so much easier to be the seller (at the top).

200.68 is the gap fill from 12-18

So much indecision in the charts, big moves back and forth to the upside and downside. I think the upside wins here soon as this level is showing buyers slowly and steadily stepping in including higher highs and higher lows intraday. With the length of the uptrend these past few years, I imagine the uptrend wins out here in this uncertainty.

what is your golden signal? Tragedy's golden vix signal has been spot on so far.

Buying for me is harder because it can drop anywhere, I know it's going back up... but the drop can be to 187,198 or 201. Calling the top is easier, its 210-211. Unless it takes a lot of time, then higher.

20 Year Monthly Spy Chart

I know this is very basic and crude analysis, but it is a reason why I think the markets will be coming down soon. Everything is cyclical and take a look at that MACD. We have had a few headfakes in the past that still resulted in a few hundred point drop... but if this is the real deal... you can see the last few times the Monthly MACD has dropped below the signal line and started to curl downwards. This drop will also start from the highest we've been on the chart and the MACD, could lead to a long and/or severe drop to reset that MACD. Probably means nothing, but something I watch from time to time and this is the "SPY Technical Analysis" board.

I think the fed speaks on wednesday along with crude oil inventories. and I think the body of the gap from dec 17th was 200.68 with the high of the wick being 201.23. Today we hit a low of 201.35. I think your analysis is spot on though and that I think we turn around with the fed minutes potentially.

http://www.forexfactory.com/index.php?day=jan7.2015

We don't have to be the only game in town, there is cash, the us dollar, gold, etc. Is it a surprise that gold has held and actually gone up from its 1130 bottom while the us dollar is constantly setting new highs? Something has to give at some point. Not saying the market is going to crash, but I am saying that the SPY, or big us markets (dow,russell, nasdaq) aren't the only places to safely put your money.

This market is having trouble bouncing. This is unusual for the santa claus buyers.

What are some of your most overbought big board stocks inside of the s and p?

second target very close to hitting, closed the second half of my small shorts. was in the red on them for a while. Will reshort if and when the spy hits the 210-211 area.

I agree with you, doesn't change the fact that this will be the first consecutive 4 red days since 2013 (i think.)

Also yes the trend will remain upward, but where is the buyin is the better question.

The s and p, dow and nasdaq are all down almost 1% and the russell is only down .28%, why hasn't the russell fallen more?

Here is something that is mind blowing. The SPY didn't have 4 straight red days in all of 2014, and we are doing it to start off 2015. Surprised no one is talking about this. They are making it very apparent that things are changing.

First target hit, now waiting on the second.

up or down? If it's up, can't wait to short it again. Maybe around 2100 lol.

I love how everyone gets signals when the market is already down multiple percent. What's the fun in that unless this is a huge correction? The SPX is already down 50+ pts lol.

And it has been spoken, so it shall be done.

Which time frame are you looking at for a test of the middle BB?

On a daily chart the middle BB is 204.79 and has already been tested and has provided support.

Weekly middle BB is 200.04

And monthly middle BB is 184.32

Weekly is my guess as that is the gap fill for December 17-18 and where my trend line for the October and December dip runs through at.

SPY Chart +++++

A lot of red volume as of late, and the first volume after the "santa low volume rally" has been red. The first volume to start the year has been red and the volume to end the year was red. With people selling to end the year and people selling to start the year I imagine that the first few weeks/days of the year will be continued sideways/red volume. I expect at minimum over the next few days/weeks a 50/100 Day MA test. I expect the trend to remain upward going into 2015 atleast for now until we start to see some hard breaks or a major change in tune. For now the trend is up and the bulls should be happy. The only question I have is where will this correction/dip bottom out at and how many gaps will we fill along the way? Part of me thinks that with how apparent the gap is at 201 that they will not fill it... so I think we stop and turn somewhere in the 201.5-203 area, but I am not confident enough to buy there, only to cover some shorts there. There are two sides of this controversial last few weeks of trading on this chart. 1 is the large artificial wick from dec 18th and also the large gap created on the 17-18th. One has the bulls licking their chops and the other has the bears licking their chops. Do we fill the gap or do we retest the top of that artificial wick. Only time will tell, and it won't take much time IMO.

Well I believe I read somewhere that the S and P or the SPY hasn't seen 4 straight red days in 2014, so seeing that we have seen 3 in a row... we will either have a green day or it will be the first 4 consecutive red days in a long time.

So I would say the chances that you are right are high.

I still want to know what your vix golden signal is. Why are you holding back on us? Are the 5 retail traders on this board going to ruin the vix golden signal? lol.

Biggest candles of the day are still red.

Are you still getting your vix golden signal? Still shorting the spikes? Or have you returned to bull status?

dip buyers are confused as to why this isn't making new highs already. Having to wait for their profits this time lol.

As I post, the PPT actively taking the market back up. up 6%, down 2%, time for another 6%, lmao.

When was the last time we saw the spy red this early in the day?

Dow Futures now up over 100 points in 6 hours of extremely light volume "trading". S n P up 11 points. All the markets ranging from .54-.61% up. Dow, snp, russell, nasdaq.

Stairstepping it's way up, almost like the last two weeks of the year on repeat. This time is it the opposite to lure the bulls in, or did Santa Claus come back to deliver more presents and 6% rallies?

Futures up 10 pts on astronomically low volume. Everything is okay with the world.

If the futures market was down 10 pts on astronomically low volume there would be a world crisis. Pretty comical stuff.

we'll see how it plays out into the overnight and tomorrow. If this drop continues, I'd expect a few days of green or sideways action before the next leg down.