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es 1075 and 1077 major resistance!
if the 30 year bond can clear 126'14, might get a run to 126.31, and maybe just maybe 127'08.
so many long wicks everywhere...could end flat...i am seeing inherent strength on the hourly for dx, and weekness for the euro and crude.
buy buy buy...eom
euro has a nice big bear flag on the hourly, target 1.2475
dollar found support at the daily 89sma, and weekly 21sma...
crude might be heading for 73.96, before another move higher...although my target is still 65 on the weekly...
looking at the daily es chart, i also see scenario two as possible...that being a retrace of both yesterday and todays up action...we are sitting right below a flat 21sma, and right above a falling 13sma...in the past this has led to a 100% retrace. if they can thrust this higher tmw the bull have the ball and will intend to keep it!
typically, tmw would be another massive rally...1093.75-1110 target...next week will extremely profitable if you can pick tops and bottoms...i still think that 990-995 will get tagged next week and rally hard off of that. the bear is temporarily put back to sleep...incredible, but that's the way this market works...zero regard for fundamentals, and 100% technical...those consumer numbers were so bad, yet the market did nothing...30 year bond going to 125.00-15 before getting a bounce...euro going to 1.2850, most likely tmw.
gap lower is what would fit my assumptions here. baltic dry index down for the 30th day straight...more than half a hair cut from just a couple months ago...outlook does not look good!
well, yes and no...if there is continuation tmw, no...if we retrace all the move or at least 78.6 of todays move, then yes...so stay tuned. if we continue, then it's back to the drawing board and new numbers will have to be expected...tmw all will be clear...
perhaps a pattern violation ...above 1064 on es, and it will be a confirmed pattern violation...although a lower low next week would be made, the sell off i'm looking for may not get under way for another 8-9 weeks...
haha, i can think of a few...14.06 would be the 1/8th line on it's octave...seen this kind of ipo action before...
no i open short at 1058 today, and cover tmw at 1 pt from todays low...say around 1027.50
Hey Fox, what do you think about TSLA btw 12.5 and 14.06? if 14.06 can hold the first time maybe a bounce to 17.15? then 12.5
here if you want the daily prediction analysis...
high 1058-1060
low is in
and close is 1046-51...
tmw retrace the entire move and close about 5 pts above the low of day...
i said next week 956...chime back in next week...
initial support should come in at 956 next week for spx...
i'm ready for da boys...bring it on...3 days to study the charts has left me feeling like a tai chi master waiting for whatever "they" want to throw my way. No matter what, the end result will be the same, tai chi master wins! haha...
there ain't nothing bullish with these markets right here and now...so, let's pick our spots and short again and again! ES low for the week should either be 937.50-939, or 983. Either way the lower target will be met either this week or next. ES has already made a lower low for the week along with YM. TF and NQ have not! might need some not so happy talk aout millions losing there unemployment money to get these consumer and tech stocks down!
maybe next week!
yes...indeed..but next week we should end the week down 10% on the q's, then july 12 gap down to fill gap 37.57...close that week in doji, then up for for a few weeks...but super choppy!
I really do not like what i see right now around august 1st...or july 11th for that matter... it is what it is and hopefully all things will work out how they are meant to...
have a great weekend of independence to all!
right you are...next week is the big week...
q's 38.75
spx 968.75
russell 555
crude oil 63-65
close enough on the close...stay tuned! 41.25 might hold for tmw...then next week we hit the 89sma on the weekly...
Hey Fox,
not sure if you trade the q's at all, but if you do...might be a good buy those 40's tmw morning. will be looking for .31-33 as a low in those...target for close would be around 1.00-1.15...
after gap up tmw morning, 43.08-43.20 should be the top then straight down to close around 41...
that's the game plan as i see it for now anyways...hope all is well!
fox, check out qqqq 40 puts july...vol and open interest are suggesting a move to at least 40 in the next week...
here is even more evidence...q's 40 july puts have 127,000 volume...open interest is 60,000....last time this happened, the q's got to that strike price within 5 days! and even overshot it some!
for my fiction to be more real a perfect close on the q's would be 42.51...
nice save!
will short the first hour in the morning... 43.08-20 will be the high, then down to 41 by the close!
last line of defense is 42.26-27
42.45 must hold for q's or kiss it goodbye
correction...the "major event, is actually poised for the following weekend...getting ahead of myself with my dates. lack of sleep this week is catching up!
euro has a bull flag on daily, target is the 1.28 level...won't be long before we have a double bottom in play for euro...
sure, i'm just posting what i see...the one thing that i am most sure of, is that the weekly 89sma will be tagged shortly!
as for next week gap lower, that is more up in the air...i will hold a short through the weekend in anticipation of something major over the weekend...if this "something does happen i would anticipate another 20% lower btw now and next friday!
and tmw the target to hold on a close is the weekly 89sma...q's is at 38.74, and spy is 99.5.
for all those waiting to buy this market, the monthly aroon is now at -50 across the board...tmw, we should make a lower low, then gap down by a minimum of 2% next tuesday...a tradeable bottom should materialize next week.
42.75ish setting up for the q's...
probably done for today...
perhaps...if so, we need to make a lower low fast here then buy up into close...looking for 42.5 on the q's...dollar and 10y is supporting this assumption here.
Hey Fox, thanks for your chart and input!
Looking at that chart, we should all be hoping that 875 holds on a closing basis, cause if it does not that will be a violation of the 3/8ths line, and the pipe! Which would allow for a move to the 1/8ths line and perhaps the 0/0ths line...Arch Crawford, and other astrologers are looking at catastrophic alignments of our planets around the beginning of august...we have a powerful solar eclips 7-11-2010...i will be looking for a buying opportunity (short term) around that date...murray math turn date is the 9th, being the 64th day in a trading cycle, and bradley has a date around there too...so let's see how low she can go, before rallying some!
looking for the weekly 89sma to get tagged Fox. right now at 993. and this pattern might resemble the jan. 08 fall into the middle of the month, more precisely july 11th...although if this head and shoulders plays out the target is more like 875...another fantastic murray math number!
tmw should be a doji, first down, then up, then just about even...then thursday and friday continuation...
look back to jan of 2008...