|
Post by crumbdon on Dec 16, 2014 15:20:25 GMT -5
Looks like SPX wants a new low by EOD. XLF <23.80=22.60. JMHO Yeah, many want to trade, few want to hold, eh?
|
|
|
Post by huh on Dec 16, 2014 15:24:22 GMT -5
Looks like SPX wants a new low by EOD. XLF <23.80=22.60. JMHO Yeah, many want to trade, few want to hold, eh? Unfortunately though that's been the same case for each of the last 7 days.
|
|
|
Post by huh on Dec 16, 2014 15:29:44 GMT -5
I'm seeing an SPX target for ~1931-1932. If that hits, that puts it under a larger bearish pattern pointing to ~1650 (and potentially another for low 1300's). I'm not messing around with long positions here
|
|
|
Post by huh on Dec 16, 2014 15:31:24 GMT -5
GOOG is now under the neckline of a large 1yr H&S pattern. And it's an island pattern. A close down here could set-up a large gap down (<450). Target's ~415.
|
|
|
Post by crumbdon on Dec 16, 2014 15:35:48 GMT -5
PPT gonna send in their Junior Apprentices for the close. Kind of an initiation, so to speak. Let's see if they survive, let alone help.
|
|
|
Post by crumbdon on Dec 16, 2014 15:42:14 GMT -5
PPT gonna send in their Junior Apprentices for the close. Kind of an initiation, so to speak. Let's see if they survive, let alone help. Lol, so much lunch meat they are!
|
|
|
Post by huh on Dec 16, 2014 15:42:18 GMT -5
DDD downside target 21.25. (currently ~30)
AMZN downside target ~200 (currently ~296)
NFLX downside target ~205 (currently ~316)
IYT (transports) downside target ~153 (currently ~158.50)
MSFT downside target ~42.25, then 37.50's (currently ~45.50)
IBM downside target 140.50 (currently 152)
XLE downside target 66.50 (currently ~74.25)
I could go on but simply put; the market had a chance to squeeze today.
It failed.
Maybe it has another chance tomorrow if the Fed intervenes in some way, but it would only be a short term squeeze now. Not something I want to take a chance at until SPX can prove over 2026.
JMHO
|
|
|
Post by huh on Dec 16, 2014 15:49:41 GMT -5
On the other hand...TLT just hit the upside target.
Would be a perfect opportunity to squeeze while bonds pullback. But could it also mean Fed raising rates...?
Guess we'll find out tomorrow.
|
|
|
Post by huh on Dec 16, 2014 15:53:53 GMT -5
Looks like SPX wants a new low by EOD. XLF <23.80=22.60. JMHO There's the new SPX LOD. XLF lost 23.80. GOOG in big trouble.
|
|
|
Post by huh on Dec 16, 2014 15:55:09 GMT -5
Intraday topping pattern in GTE, downside target 3.25 (again).
|
|
|
Post by huh on Dec 16, 2014 16:07:38 GMT -5
Personally, I don't think anyone should be long here. If the Fed's going to do something to intervene with the market falling, best to wait until they do it.
|
|
|
Post by huh on Dec 16, 2014 16:09:05 GMT -5
Intraday topping pattern in GTE, downside target 3.25 (again). I see two patterns in GTE pointing to ~1.60-1.85.
|
|
|
Post by novie08 on Dec 16, 2014 16:25:08 GMT -5
Damned near bought aapl...so glad to restrain myself. Looks like no Santa rally unless as you say, the Fed says something mighty important. I was worried when CNBS kept talking up the rally late last week. You know they're the spokespersons for GS. Could be a longer term down here until spring.
|
|
|
Post by huh on Dec 16, 2014 16:29:01 GMT -5
Personally, I don't think anyone should be long here. If the Fed's going to do something to intervene with the market falling, best to wait until they do it. Do we get an Xmas Xqueeze, or Christmas Crash? Here's what I'm thinking ... if the market doesn't get over 2026 tomorrow, it'll likely crash. JMHO ... oh, and Merry Xmas!
|
|
|
Post by huh on Dec 16, 2014 16:32:42 GMT -5
Here's something interesting...
I mentioned yesterday that VIX filled the last remaining upside gap. Well, yesterday it filled the daily candle gap hitting the low from 10/16. However, today's HOD was 25.20, the exact close from that same day (filling the daily closing gap).
I'm telling you, there's something goofy about VIX right now.
|
|
|
Post by novie08 on Dec 16, 2014 16:35:06 GMT -5
The oil crash has its definite downside...deflationary collapse is very, very bad. Remember Armstrong's SHTF is 2015.75 for sovereign debt crisis. He's sending mixed messages about the stock market...now saying everything will collapse, including currencies, hard assets, stocks along with the bonds. In other words, nowhere to run/hide. Previously calling for 40,000 on the DOW into 2017. Have to keep reading and report back.
|
|
|
Post by novie08 on Dec 16, 2014 16:46:10 GMT -5
What time does Her Majesty Yellen speak? Could be another volatile day.
|
|
|
Post by huh on Dec 16, 2014 16:52:30 GMT -5
What time does Her Majesty Yellen speak? Could be another volatile day. Should be either 2, or 2:30.
|
|
|
Post by huh on Dec 16, 2014 16:53:28 GMT -5
|
|
|
Post by novie08 on Dec 16, 2014 19:13:18 GMT -5
Thanks huh. It would be a good day to destroy the shorts. I'm with you, if it doesn't come tomorrow, foggettaboutit. Real doom and gloom until she announces yet another QE.
|
|