The Fractal Dimension Index
I have posted a page on the Fractal Dimension Index. It has more examples, explanation, and links. Make sure to look at the Apple chart, as AAPL looks poised to make a move. And my FDI indicator is ready if you use TradeStation.
Fabulous Recovery
ShopperTrak reports a rather lame 0.5% increase in Black Friday sales over last year. Does that strike you as fabulous?
Re: Thanksgiving Panic
If you are thinking that the Thanksgiving Panic in the futures was a fluke, you might be mistaken. Here is a Benoit Mandelbrot quote:
“Price swings are highly erratic. The large ones are numerous and cluster together.”
And Mandelbrot’s second rule of markets: “Trouble runs in streaks.”
Yikes! Google Ads!
looks like 1096 is now acting as support in fact the whole 1090-1096 is support now.
Crap!
Repeat after me: The great and powerful OZ has declared that the market will not go down. Will NOT go down. WILL NOT GO DOWN!
Now, spread money around to keep the bubble inflated…
Look on the bright side K, the market is giving us a better price point to enter our short positions!
well I did say that I will be increasing my short position 5% more this week so we’ll see
I realize that the Nasdaq 100 futures aren’t followed to the same extent as the SP9Z charts are, but they haven’t gotten above 1774 (which is still well within the price action on the NDX on Friday). Also, there is a Fib retracement of the last move up sitting at 1775 acting as resistance (which also is where the NDX turned lower in Friday’s last hours). I’ll be rooting for a closure of that Nov 6-9th gap completely! And soon!
Market building a top. K, I’ve ordered Brinks
trucks for you and George. Look forward
to reading your posts next weekend.
Till then i hope You have ordered the brinks fleet for yourself.
this just in?
Japan’s industrial production rose less than economists estimated in October, undermining the nation’s recovery from its deepest postwar recession.
futes approx 6 am, not much change in hte nas…
Futures Prices
Market Last Change %
Crude Oil 76.05 -0.18 -0.24
Natural Gas 5.192 +0.02 +0.39
Corn 413.5 +5.5 +1.33
Soybeans 1053.0 -1.5 -0.14
30yr Bond 123.09375 -0.09375 -0.08
10yr Note 119.875 +0.65625 +0.55
NY Gold 1175.5 -18.3 -1.56
NY Silver 18.335 -0.36 -1.96
Emini S&P 1089.00 -0.5 -0.05
Emini Nasdaq 1758.25 -1.00 -0.06
Emini Dow 10294 +2 +0.02
Dubai Stock Exchange Plummets 7%, As Government Confirms It Won’t Pick Up The Tab
http://www.businessinsider.com/dubai-stock-exchange-drops-debt-not-guaranteed-by-government-2009-11
have a good trading day everyone. Adios.
2th, I’ll be watching that too. Although I haven’t downloaded any Silverlight I did read and study your thesis set out here last Saturday/Sunday. You seemed purely technical which to me usually requires “an all things being equal” ingredient and I have an end game hangup which to my feeble mind would require consolidation of nearly obsolete or unfavored businesses and capital focus to the favored – something an index could conceal with proper management. Or I could get out more – lol.
Keep an eye on TZA
I reckon SPY wants to fill its intraday and possibly daily gap.
And the 1096 SPX level acts as resistance (just like futures) that it is sitting just below. Next move? Film at 11 am eastern…
I’m off to work pretty quickly from here. Have a great Cyber Monday everyone and good trading.
Aig may face an 11 billion shortfall in insurance reserves… As we speak AIG is down 11%
How fun?
Indian GDP grew 7.9%. Fastest pace in 1.5yrs. Indian bouble and dubai trouble =
Just wanted to let you know since I can’t post links right now.
SPY still trying to gather steam to close either the intraday and daily gap. It could wait until the 60min stochastic and MACD cycles before doing so.
SRS/URE at a junction soon as STS approaches its 15min 36MA support and URE its 15min 36MA resistance. The mostly sideways movement is telling as consolidation, the question is which way will it move once they reach that point.
I’ll be waiting.
… that should be SRS approaches its 15min 36MA support… too much turkey!
If SPY can get passed its 5min 36MA this time it has a good chance of going to its 15min 36MA resistance.
also futures did not go below their morning low during regular trading
did i see the dow just a smidge on the green side ?
SDS has been creating bear flags all afternoon on the 5min. Looks like that anyway.
after,
I haven’t been watching it lately but it did green up this AM. SPX has been green all day I believe.
SRS failed its 15min 36MA, now the second choice is its 15min MACD trendlines are at the zero line. It could bounce from here. Looks to be consolidating on the 1min getting ready for a move, one way or the other.
Oil is up over 1.4%, as Iran is at the center of a potential global landmine.
AP: Britain’s Foreign Office says that a racing yacht carrying five U.K. nationals has been stopped by Iranian naval vessels, and they are now in Iran. Government officials said Monday that the yacht may have strayed inadvertently into Iranian waters when it was stopped last Wednesday.
LOL
http://3.bp.blogspot.com/_rufrpeKdZ38/SxP6oGylj5I/AAAAAAAAFyw/8B4nt9w_2Hk/s1600/rut.png
K, here is the price action for the SAS-tourists (caught a week ago )http://www.zerohedge.com/article/signs-sensitivity-iranian-powderkeg
haha nice link Yerk.
I have yet to check zerohedge there are 7 unread posts from that blog and im betting that is one.
yup just checked. new item #2 is the powderkeg.
looks like iran caused greenshoots
The good news is, SRS filled its daily gap up it made Friday so it is free to move about the charts.
I was hoping all the gaps would be closed today but it takes longer the more turkey that’s eaten.
Hmmm, wonder if K will put leftover turkey in his natzi soup?
SRS showing real weakness here. This indicates to me the market will soon break to the upside.
Thanks Jim.
New Orleans tonight by 14 or more? Saints should have an answer for Welker. Brees to get 250+ in the air.
George your uniform picks worked well yesterday – not tonight says the humble pupil.
Mitch,
Ah, we shall see, grasshopper.
Jim,
You could be right. SPY dipped down and took out that daily gap I was eyeballing. That was on the 6th of Nov. Now all it has near is the gap above it which it will surely fill, sooner than later.
That candle is wicked on SPY. Hammerhead and all that.
nop no turkey soup. only chicken soup for the soul
Well, bless my soul…
SPY 60min dropped below its 60min 36MA, could gap up over it like it has done several times in the past. If it does, the Christmas Rally is intact.
Gots to keep tradition ya know.
Bless your soul George! Hey, ask your wife about selection when you can. Two months ago I noticed inventory way down at a local anchor chain over here. Retail clothing stores may have sold down inventory to the bone and were waiting to reload at or near the Christmas season. Black Friday may have finished that inventory.
ise equity made a wild swing from new highs to very low levels. Only similar move I could find was around 17.06 this year – 22.06 was -30 pts.
When the day doesnt go your way what do you do? Let the stress out of course!
It’s nice when fellow coworkers want to stay in touch by organizing basketball games
see ya! Enjoy the soup George!
Cool.
Nice touch Matt.
Oh Noes… Pats are losing!