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SPX 5 min looking like a C/H formation in the works
DOW RSI 14 hit 25ish today,
OK AJ, no problem. WLSH made the new low against 2002 low
RUT has about 10% more to go needs about 325 (oct 2002) @ 361
NDX has about 25% to go, maybe NDX will be exempt?
AJ, will you be updating the HFTOM today?
trying to my fingers clear of the fas buzzsaw<g>
Out of the down channel now in SPX and looks like some positive divergance in STO.
Are u sure you want him to say anything being your long?
here we go up up and away
SPX wedge is now morphed into a down channel
Looks like the wedge on SPX 5 min is ready to break upward
maybe they should have closed the market permanent and kept all the money <g>
Picked up a double helping of FAS @ 4.08
that wouldn't have fixed the problem Cannibis
Thx Mrnatural, EOM
Thx HD, I think we will see your 636 as well, do you agree ther will be a small bounce before that?
Thx Mr natural, With what i am seeing going on in Europe there could very easily be a falling out of the Eurozone/Euro
I don't think I am qualified to trade currencies at this point, but if it becomes more evident I could put more time into it.
FWIW, I think your buying at 718 is at or near the bottom today IMO I see an attempt to close the gap then return to the lows and maybe a point or two lower. The a 4% up day tommorrow and a waterfall drop from there. Just my take.
What do you think of a short play on the Euro Mr. Natural?
Yea, I think a bounce by tomorrow or so and up a little and then a real waterfall to realize your senario.
Good article Hunker, IMO, the key point to the anomalies in the article come from a devastated construction industry. The previous recessions were ALWAYS led out by the construction. Non construction corporate spending always waited until some signs of a upturn were evident while construction was interest rate fueled. Now that even low interest rates can start any significant construction the nation is facing challenges not seen since the 30s. I hope I'm not boring everyone with obvious observations <g>
AJTJ, would you have any comments on the failure rate of HFTOM?
FAZ moving now go go go
I was just looking at that AJ, with the strength in the finacials this morning I was cautious to pick up some FAZ so I went for a 1/2 helping at about 48.
It looks like the BKX is forming a down channel the last 6 weeks trading period, i,m hoping to see the lower end of the channel. <g>
I've done some research on solar and todays technology actually has a disadvantage in areas with extreme heat. The panel is somewhat sensitive to extreme heat and does very well in more temperate zones. ( according to the articles which I cannot remember who wrote)
So did you replce the light in the bathroom, or are you in the dark there until you decide which bulb to use <G>
Bring your family along as well <g>
Andiron, My fas position is up 27% today, Even though I think there is more coming I can hear your Grandmum telling me to "not be greedy" do you hear her as well?
AJ, any market direction imput? Are you looking for more than SPX 792? And do you think we will have a little pull back tommorrow before the completion if so?
I guess the run in oil will coincide with the run in the SPX, The retrace will end when the SPX has run out of steam.
And I wasn't invited? What the heck's going on here?
I would have given you a call if I knew you wanted to go. The lobster, caviar and champagne was great, can't wait for the next one in Hawaii next month.
Are you following oil? I have a UCO position and wondering if you or anyone else might have any thoughts on the expecting run? UCO .382 retrace would put it at 7.71 (currently at 6.65) but there is so much more to oil moves than just the chart technicals.
Hi Andiron, I'm looking for the .382 retrace which would be 792, what do you think?
AJ, which would be the correct high to use for the retrace number, the Feb 9th high which would give us a 792 target or Feb 13 which would give us almost 780? I think the extreme high at the 9th is the correct one ?
Looks to me this bounce will result in the interpretation of either a double bottom on the SPX (broad market) or the HFTOM and a new low coming after a .382 retrace.
I guess congrats are in order?
SPX, RSI 14 hit 30 today
Good calls Andiron
Excellent call AJ, <g>
Thx Tea, excellent chart, excellent call
Hi Tea, happy to see your charts. Are you expecting a new low for SPX? that will drop below your lower fork.