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jimkane
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Just over three hours until the futures open. Although there will be a break for part of tomorrow's RTH time, otherwise it's still 'game on'. I'm bored and ready for action. I'm not sure what my life would be like without the market, I guess I'd find something else that I find exciting...
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jimkane
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And there's the next leg. Another easy ride to the upside, again? I suspect so. Gold took a strange dump, though...
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jimkane
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The Aussie and CL sure have potential rollover looks to them, though, and that's concerning. But, I have found rollover looks are usually traps nowadays, since the '09 manipulation bottom.
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jimkane
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Yep, a trap. New highs for the move. ES gonna rocket all night, I think....
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jimkane
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Aussie up almost a hundred pips, crude smokin', gold pushing back at its high, the ES, well, it's on fire. I guess we are looking at another 20-30 day coming up. The only question is will it be 20 or 30? I see a little 'resistance' around 34.50-37.00 area, so that would be say 25 off the low. I may refine that later, but that's the next level I am watching.
The 'key' level for me, in the intermediate-term, as stated last week, is in the low 40's. We very well may see that before Tuesday's open, or upon the open. It's only like 16 points away. It could theoretically do it by tomorrow. All I can say is I am going to be shocked, shocked, if the long setup that was triggered right after the open today isn't a simple 'ride to the low 40's'. Shocked.
The 'key' level for me, in the intermediate-term, as stated last week, is in the low 40's. We very well may see that before Tuesday's open, or upon the open. It's only like 16 points away. It could theoretically do it by tomorrow. All I can say is I am going to be shocked, shocked, if the long setup that was triggered right after the open today isn't a simple 'ride to the low 40's'. Shocked.
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jimkane
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That look of weakness is back. In 'the old days' when that came with an area it meant something, in my experience. Now, it seems to be a trap more often than not, set up to suck people in before they are slaughtered. This tends to be the case especially when the trap is for a burst to the upside (no surprise there). Let's see what happens this time.
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jimkane
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Okay, looks like the next leg is starting. Got to love these manipulation rampers.
AL
albert
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This guy sounds bullish long term.
http://solarcycles.net/2012/05/21/the-secular-position/
Al Kamego
http://solarcycles.net/2012/05/21/the-secular-position/
Al Kamego
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jimkane
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So, although there are a few areas on the way, as mentioned already, I think this has a good chance of hitting that low 40's area tomorrow before the close. That's the best time factor I have for the move. As I've said before, though, I don't rely too heavily on the time factors I post, it's more the confluence of all the factors. I'd love nothing more than for this to dump, but since everyone is bullish, I guess it goes up. Whatever happened to that old maxim, when everyone is bullish there is no one left to buy and down it goes? I guess that doesn't apply when the market is 100% manipulated...
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jimkane
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Hmmmm. Hmmmm is my favorite expression today, it seems. Usually it's 'Amazing'. Anyway, the SPY has drifted back down to below the ES closing level. I'm not unhappy at all, just a bit surprised that they can't bounce this even in the aftermarket hours with nothing else trading. Very curious. I hope we see that 60-65 soon, preferably Sunday night, before we get 'the big bounce'. Then down into those 1100's, if I get my way.