Replies to post #34767 on The TradingEdge

[jxyzobrien]

Until
value breaks lower out of the shelf the trend is up.
Value is still building within horizontal channel
They may have to flush it before rallying

We do now have a sloping channel within the horizontal
channel. ES 2151 is line in the sand. There will be a fall
correction just don't know when.

GOLD continues to be inverse to the market and is up
nicely again.

wonder if friday job nbrs will help bulls

last time market printed wkly doji new high followed then 3 weeks of selling


OIL tested and rejected lows below 40.

[jxyzobrien]

Euro banks in trouble
If these levels dont hold we go to turkey smurkey lows.
This has been selling from the open so breadth ticks have
gotten worse.
Now at spx daily 20ma.

With goldman news, active fund managers very long i am not shocked
to see them test the bulls.

[jxyzobrien]

Gap up tomorrow
We bounced off the daily 20da ma and things calmed down with
no follow thru selling so i have to give the edge to bulls
with BOE rate cut in focus.

Dax , DB XLF settled down and gold selling so it seems like the storm maybe over for now.

[algol]

Fresh new ATH, as expected! More upward movement in early next week! 2187 at the very least. Then... We will see!