On Monday, the XLF closed right on its 200-day moving average, and right at its August 5th gap. And it’s a good thing too, because if you go back and look at the July 2009 chart, you will see that the XLF has no less than four more un-filled gaps all the way down to the $11.08 gap on July 10th. The XLF was on the precipice of a very slippery slope. If things turn ugly again, keep an eye on the next gap down, which is the $12.99 gap from July 31st.
Super Bowl Commercials
You can see all the Super Bowl commercials on this page. Set aside a couple of hours.
On CNBC last night, Fast Money criticized the Google commercial. Say what you will, but at least it didn’t contain any pants-less men.
Matt,
Thanks for the commercial link. I do like those even though I don’t watch the game. I know, heresy on my part. I do like apple pie though.
Minis could be sporting an ED C wave. If so, that would put cash max at about 1073ish. Up volume was impressive this morning–beyond anticipated, but falling off.
From what I’ve observed, there is a delay when the VIX gives a signal and the actual underlying move occurs.
It would be nice to have gaps filled then reverse. I’m such a dreamer…
URE filled its intraday gap. One of my dreams has come true!
Market is resting and consolidating for the next move. That fits with nothing much is in alignment so a change is coming.
Gaps are targets.
That could be it. We got above this morning’s high, but below 1073. That would also put the large volume in the w3 (of a possible ED) up. If so, down we go.
JG, good call!
GEORGE…..sold 1/2 long SCHX……horrors>>> lost one of my dollars…thanks to no commision or it would have been $19…now i am net SHORT
SPY gap filled on the 15min but not the 5min yet. Yeah, makes ya think about which intraday gap is important knowing that.
Tops/Bottoms.
Phil,
It looks like SCHX has been moving well lately.
GEORGE… ive saved quite a bit in commissions with SCHX…i still have to pay for the short ETFS though…so i try to hold them longer….
Trend down. Ceiling 1085, if 1040 broken next stop 1000.
Nice SPY counter move.
George,
That was Greece being saved.
Matt
Greece story: http://www.cnbc.com/id/35313749
MATT…..this looks like wave C up…..3 of 3 of C up….amazing how news MATTgically appears to give the blast off for 3 of 3 up isnt it???….looking to TAKE PROFITS on longs near 1080 1082 SPX
PS ..tv is OFF i had no idea why market jumped ..1081.78 is .618 http://1.bp.blogspot.com/_goypolxEFd4/S3F_Xx6upAI/AAAAAAAAD-8/TqIGghX0-vE/s1600-h/SPX+30+min+Arith.png
TAKING PROFITS on any sign of weakness here >>SPY is at resistance
SOLD schx for 29c profit
HASTA la vista all and good luck!!!
Thanks Matt, we’ll see how long Greece can levitate price. Or, will it be too much grease and slide back down.
Phil,
Nice going!
My SD charts show SSO NOT reaching $35.80 and Scottrade shows SSO high at 35.79, yet I sold at $35.80. Fine with me.
Eh, as long as I’m in the “general” area, I guess it’s okay.
K,
May go to +222 today.
In my book, as long as it “hits” it, it’s golden – doesn’t have to close that way. Triple Triplets coming up.
Woah, Nelly… tooo much grease!
WHAT HAPPENED???? ok i guess its time to turn on the TV
SHOULD not have overlapped 1072 area if 3 of 3 up…..RALLY could be over
GEORGE…..thanks……
CNBC has reported that a German official is saying there is no Greece deal.
Either CNBC screwed up, or they just stupidly repeated a rumor.
This just in from CNBC: Spain to bail out Greece!
NO TV PHIL! That’s what the brokers do and the reason the market gyrates.
Matt –
Anything to goose the markets… Denninger brought up a good point about the markets continually fabricating rumors about MBI and Ambac being saved back in the day…
questioning,
Indeed. There’s a video out there somewhere of Charlie Gasparino blatantly trying to rumor up Ambac (I think) back in 2008.
Matt
This afternoon could be a double-three combo.
Agree with Yerk: trend down. It may start right now, and then have a nice waterfall tomorrow.
Woo hoo!
Market just broke under two of my formula lines. Would like to see it close under. Oops, just recaptured one of them and sitting on it. Will they break tomorrow?
junglegirl says:
February 9, 2010 at 3:48 pm
“This afternoon could be a double-three combo.”
????
BBT really faltered with this rebound. Financials look to be bearish.
George, sounds like a real meal deal, doesn’t it? It’s a corrective wave form where one ABC (three wave pattern) doesn’t get the job done in price, time, or both. So the market forms an X wave, then a second ABC pattern. This extends the time, and may or may not extend the price. With all the overlapping this afternoon, it looks corrective. A double-three combo fits that.
JG,
Whew, I’ll go with what you say. Just give me a senior’s discount.
If I had a few of you folks’ knowledge, I’d rule the world.
Ditto that George