SPY printed a small double-top on its 1-minute chart at 3:42pm Thursday afternoon. It doesn’t look like much, but I have a feeling that they ran out of shorts to squeeze and switched off the squeeze-bots. Perhaps we will have a narrow-range consolidation day on Friday similar to June 26th or July 17th.
Having impressively filled Monday’s large down-gap already, the QQQQ and IWM still have small gaps left open from last Friday morning. The Q’s need to tag $40.09, and the IWM $57.60. If they can’t do so, the market may need to dive down and see if it can reload some more shorts to feed to the squeeze-bots next week.
QQQQ having trouble with breakout…getting too late now ..should have only sold 1/2 of SSO at open today ….oh well… look for entry points next week….again….there is NO WAY i would short this market YET…but we are getting closer…………good weekend all !
Have a good one phil.
phil might miss the red streaks.
added some gas.to @ 4.33
UNG was up last i checked…
hmm…
bought some sept SPY 97 puts @ .95
checked my avg gas.to price, now 5.15
can ndx get to 1740 or 1750 ? was told good time to short there…just reminding myself -g-
Ouch. The only red streaks were inverse. Ouch.
got my spy 100 puts $30 cheaper than in morning. (i just need to spend the weekend asking myself why I keep straying away from my system)
It ain’t over ’till the bell rings.
SPY 5min MACD trendlines did indeed bounce and are just getting started. Which means there is always a chance they can reverse quickly. Once established, they don’t turn quickly.
vix down just .37 while SPY is flying…
just think about it then do as your heart tells you
I see nothing yet on the inverse but counter move technicals. It’s all uphill till we reach SPY $105 – at least by my crude calculations.
TNX closed +1.21. Amazing that it is only at 3.55%. It has actually backed off some.
TLT still above 94 for me so it might end up like that and me keeping a position (and saving a daytrade for monday)
SPY weekly looks good. Bullish engulfing candle this week. It may be going up to fill that gap around $109.
George, my 1:36 did happen – when the 5 and the 15 reversed things got moving.
Dax closed at major resistance and so far is not moving up. opex games…
have a great weekend. (am sure i’ll be posting a million links)
Am off from work don;t want to see the fireworks today
Yerk,
Good call. This must be big bucks coming into the market to make it move relentlessly. Similar to the selling last year.
Almost all of my charts have been Miff’ed. Until the weekly begins to turn, this is assumed an up market. I’ll play it that way by holding longer on the underlying moves and shorter for the counters.
SPY 15min MACD never did cross up while the 5min got weaker and couldn’t push it up. Should be a slight pull back here before moving up again.
K,
Post a million and 1, I need to keep busy this weekend. Have a nice one.
George, thanks. You know, it would be very helpful to see the readings for the next bar in advance. eg as if the current bar were to close now and the readings for the next one or two already displayed assuming price stays constant. I don’t know if any trading software supports this. One can do it in Excel on the daily but it is a pain.
7.5 billion got put into action by the Fed today… Have a great weekend!
Yerk,
See if your software has a “displace” feature. If so, you would be able to tell it to move the indicators forward x number of bars.
Matt
hilarious headline
http://danericselliottwaves.blogspot.com/2009/08/we-saved-world_21.html
this is from Barry Ritholtz
A few things to note about this rally:
• The volume is absurdly light– even for August;
•Today is an expiration day, with the bias to the upside;
• Professionals are fully invested; Individuals are mostly under-invested;
• Markets are now 53% up from the March lows;
Yerk:
Why would a clone candle be helpful?