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Post by jacksrbtr on Mar 5, 2015 12:12:15 GMT -5
Forgot tomorrow is NFP. May forstall today's drop. Likely be a day of digestion/ consolidation/ positioning. ...unless it becomes a day of indigestion, severe abdominal cramps and you know what THAT leads to...
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Post by huh on Mar 5, 2015 12:13:16 GMT -5
Possible scenario for the day...SPX up to ~2104. "fitty"-2105. "fitty", then back down for a slightly lower low. I'm still expecting the squeeze of a H&S pattern to start the leg up to the final high, so much higher than that shoulder test line and it's already underway. Otherwise, if it does fall to lose that neckline, watch for it to possibly squeeze back above it - that would be another signal that the squeeze has begun. (target of that H&S is 2056-2058 should it instead actually play out) [chart] S&P forming another smaller H&S at the top of this right shoulder. I think it will need to at least break below the neckline now (~2088) and test support there again, making a slightly lower low than yesterday. (all according to the plan...so far)
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Post by huh on Mar 5, 2015 12:23:16 GMT -5
so far.
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Post by huh on Mar 5, 2015 12:28:20 GMT -5
It's odd...the last few days NBG has been going sideways. However, GREK, the Greece ETF, has been falling. I'm not sure what to make of that. Possible for news that's good for their banks, but bad for their general markets?
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Post by huh on Mar 5, 2015 12:36:58 GMT -5
The Federal Reserve will release the first batch of bank stress test results today at 4:30pm.
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Post by Herceg on Mar 5, 2015 12:45:16 GMT -5
Managed a scalp at 32.43 and covered at 31.97...............think it will go lower, but off to take care of some things with the kids............. BOL to all.................... Sure as $hit................now at 31.21...............left a great deal on the table unfortunately................. BOL to all........... Please make it stop.................30.33 currently..................
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Post by jacksrbtr on Mar 5, 2015 12:48:03 GMT -5
so far. Even the Etrade baby doesn't know WTF is going on.
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Post by huh on Mar 5, 2015 13:15:19 GMT -5
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Post by crumbdon on Mar 5, 2015 13:25:45 GMT -5
Forgot tomorrow is NFP. May forstall today's drop. Likely be a day of digestion/ consolidation/ positioning. ...unless it becomes a day of indigestion, severe abdominal cramps and you know what THAT leads to... Yeah, it leads to careful "positioning" of one's self on the seat of the porcelain throne! That's ok, though. Mr Market could use a good flush!! (I probably say that too much)
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Post by huh on Mar 5, 2015 13:51:26 GMT -5
That's ok, though. Mr Market could use a good flush!! (I probably say that too much) So don't say it, show it!
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Post by huh on Mar 5, 2015 14:08:34 GMT -5
Possible scenario for the day...SPX up to ~2104. "fitty"-2105. "fitty", then back down for a slightly lower low. I'm still expecting the squeeze of a H&S pattern to start the leg up to the final high, so much higher than that shoulder test line and it's already underway. Otherwise, if it does fall to lose that neckline, watch for it to possibly squeeze back above it - that would be another signal that the squeeze has begun. (target of that H&S is 2056-2058 should it instead actually play out) [chart] S&P forming another smaller H&S at the top of this right shoulder. I think it will need to at least break below the neckline now (~2088) and test support there again, making a slightly lower low than yesterday. (all according to the plan...so far) Now that entire right shoulder has become another H&S, the head of it being the smaller H&S I mentioned earlier. Either a big down draft is coming, or one helluva squeeze.
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Post by jacksrbtr on Mar 5, 2015 14:13:02 GMT -5
...unless it becomes a day of indigestion, severe abdominal cramps and you know what THAT leads to... Yeah, it leads to careful "positioning" of one's self on the seat of the porcelain throne! That's ok, though. Mr Market could use a good flush!! (I probably say that too much) Big flush coming in October according to Armstrong, right? In between now and then a more moderate one, then new all-time highs, right? It's so nice to know what the fuchsia holds just please do not include any news about my longevity I don't wanna know.
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Post by jacksrbtr on Mar 5, 2015 14:16:56 GMT -5
I'm banking on my rose-colored (fuchsia) glasses.
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Post by crumbdon on Mar 5, 2015 14:20:31 GMT -5
I would generally agree with most of your points. That said, I got a chuckle out of an article on the front page of Marketwatch just now . Cullen Roche (the founder of Orcam Financial Group LLC, a financial-services firm that offers research, private advisory, institutional consulting and educational services) is saying how Cuban is wrong about the bubble. So basically you've got a low $ 6-figure financial analyst telling the billionaire how he's got it all wrong. Do you suppose Mark Cuban laughs himself to sleep each night listening to guys like this, as he gets cozy in his California King mattress that's cushioned entirely from freshly-minted $100 bills?
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Post by crumbdon on Mar 5, 2015 14:23:29 GMT -5
I'm banking on my rose-colored (fuchsia) glasses. Just as long as you're not banking on your Carl Futia-colored glasses. He's had a bit of trouble with his calls as of late
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Post by huh on Mar 5, 2015 14:48:32 GMT -5
HercegWhere'd you go? Those kids tie you up and throw you in a closet or something? LMAO..............Good Morning Huh and to all of Fazination...............I was busy up the ying-yang yesterday and did not have anytime to partake in Mtk. festivities.............................Today is another day..............things I see on my screen of interest are ABBV, JOY, EYES for now............ JMO and BOL..................... Intraday topping pattern in EYES for about a buck. (currently at 17.19)
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Post by huh on Mar 5, 2015 14:54:24 GMT -5
Intraday topping pattern in EYES for about a buck. (currently at 17.19) Target to cover would be ~16.00
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Post by crumbdon on Mar 5, 2015 14:57:47 GMT -5
Algos keep throwing in little buy-spikes on the SPY, but they're not really taking root yet.
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Post by huh on Mar 5, 2015 15:07:42 GMT -5
Intraday topping pattern in EYES for about a buck. (currently at 17.19) Target to cover would be ~16.00 Make that ~15.83-15.85. Might as well grab the extra %.
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Post by huh on Mar 5, 2015 16:00:56 GMT -5
*MARK CUBAN SAYS NO TECH BUBBLE IN PUBLIC MARKETS: CNBC clarifies bubble in private market.
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