The bullishness is obvious, but I still want to know what happens at 863 :)
TO
tomo
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Posts: 238
I tried 88.6 gap short today. Stopped for small loss. And got long 10:29 after this nice ABCD into 0.300 0.486 area. Just covered. :) I like ABCD's more and more. And like I wrote yesterday as soon as we hit new high in Spx I am bearish at least to the middle of May
TO
tomo
Rep: 110
Posts: 238
again ABCD shaping with ABCD in BC leg on 1 min chart. Let's see if we can have last strong move up :)
TO
tomo
Rep: 110
Posts: 238
did not work .. damn .. it was close .. it looks like some new pattern :)
Now TD ABCD on 1 min chart .. maybe it will become EXP .. who knows
Now TD ABCD on 1 min chart .. maybe it will become EXP .. who knows
MR
mreiserer
Rep: 110
Posts: 2,220
look at higher context, you gonna get a lot of crap in an area like this until it clears. HC tells us it's a significant spot. I wouldn't go long right in here and neither would I short until something shows either way.
just my opinion.
just my opinion.
JI
jimkane
Rep: 3,058
Posts: 33,089
I expect the market to move big when they release the stress test parameters in about six minutes. Common sense would say they'd sell off hard. But the greater common sense may be in using that common sense to think about what they will actually do. The comments they will give will be slated to their objective, which is to make people think the banks are fine. The test itself isn't designed to prove fitness, it is to convince people the banks are fit as is, so the price can rise, in my opinion. And the sentiment is already bullish. Add in that the gov will not like a negative response, so they will be ready to buy any selling. I'd expect an immediate response down, and as soon as it starts the buyers come in huge and we see a miracle ramp, and we at least get to that 883+ area. Let's see if our gov will be at work with our tax dollars...