yeah, there a better team... but there going down!.. just like this market! lol
Kool I can honestly say that im just not sure of bigger picture...EVERBODY says that we gonna go higher, which makes me think we have unfinished backing and filling left.
As you probably know , that was also my opinion (last voiced on the weekend update..opinion thread) but you cant fight the tape! And the problem for me is cycles! strongly up for a while yet. Any way , still going to try a long scalp at 1106.25 , at least for now.
What made me feel this rally was possible was over the holidays when we hit 1067 on a huge and quick decline, new lows barely budged! That told me the decline had no underlying power!(typical temp. news driven event). Also it satisfied my feeling that we needed to hit at least 1072 or so to mount a meaningful rally.
OK lets review... weve seen a new high (expected) but then downside started (cycles said so.. remember the update) and now a new daily low! Cant say i was expecting that much!! I would interpet that as short term negative overall!
im putting my stop at 1104.00, so worst case scenerio is im back to flat on the day. Basically looking for 1108 and change..at least so far.
MINI PEAK DUE 3-6 MIN