Bears Look Good

Running late today. Enjoyed the morning. Nice start for the bears, but remain cautious. Ease in. Try to pick your entries. I'll watch the 15 and 30m indicators to try to get the trades right and then use the 5 and 1m to nail it. I did but some BGZ at 14.15 a couple of days ago in certain accounts and still hold it.

Looking for a place to add to shorts. I'm not chasing anything. When I trade, you'll know.

GL

Morning Post

OK, quadruple opex, I did not have to move the fibs up this morning, an actual red candle and tournament upsets galore, what's next? Well, one thing I can guarantee is more tournament upsets. Congrats to Incarnate for the early lead. He has a tight pack behind him and another day of first round excitement ahead. One thing I can not guarantee is where the markets will go today.

My gut is a little overactive and I really think it falls after 10:30 or Monday. I bring you the Daily chart here. Unless the RSI is going to continue the ascent of Everest, it will crack the support lines and that should signal the turn is in. As with Everest, the higher you go the less oxygen you have. Sadly they allow supplemental oxygen to assist at higher altitudes and the Fed and the GS bots are more than willing to give that assist.

SPX Daily - This chart is SCREAMING turn. The only issue is there are no divergences. It is possible you may have to remain patient another day or two, but I don't think so.

Good luck today. This post is lacking cause I expect some action, and I plan on doing more timely poosts when and if anything significant occurs. Enjoy the NCAA tournament and have a great weekend. I also have to give a shout out to Little Shanky for going 3 for 3 and making the last out in his first baseball game of the year last night. A 14-2 mercy rule victory. Now can the bears get a mercy rune on this market?

Like When the Fuse goes Out

It is a dud going into quadruple opex tomorrow (or everyone is battling the green beer hangovers). Indicators are churning IMO. It looks like a bull flag to me (that is the easy and obvious guess). If there is nothing to call, there is nothing to call. Sigh up to follow. Get email alerts. remember this is a new thing for me. disqus will be here and other stuff as well when I get it cranked up.

I Think They Killed the Market?

UPDATE: Considering a bull flag here on SPX. We just have to wait and see where they throw it later today. this is really quiet. 

Just dreadfully dead. Friggin stagnant. Got a short pop. If it breaks I'll jump on. Little pop down here may be worth keeping an eye on. I'll let you know if I do anything. Might be later when the dead awaken around 2:30. Pre opex may get interesting.

OK - Closer

3:00 - I'm short


Maybe the turn is in. I'll miss the first 10 cents. If the 3x bears can take out prior resistance I'm in.Reversal candles on the SPX need to be confirmed.

Launching Pad

UPDATE - Nothing yet but closer. 

UPDATE. 1:34 - Still being patient. This thing is out of control.This is a friggin slaughter.

SPX 10m with massive divergences and super overbought.I think we get a crack today that you will be able to swing into the am. Let's be patient and let it come to us though.


Plus this -http://shankystechblog.blogspot.com/2010/03/what-more-does-it-want.html

Bought Some FAZ

14.48. Just a nibble. Want to make sure SPX is not in a bull flag. Got a tight stop.

Looking for short entry

Looks like the crack Friday may have been the spot. Semi impulsive move down today, but not all that and a bag of chips. the dailys have rolled over. I'll let you know when I enter.

Minor Crack

Crack - but I am not willing to swing it. So I wait till next week.

Still Waiting

New high on SPX and divergences everywhere. SPX is off 10pts from the high today and this may be "it", but not sure, so I sit and wait. Does the dow have to set a higher high with everyone else or not? I have shorts on the launching pad and will go a little heavier on the next trade.

I'm tempted to dip the toe in again. It may be a lot of ins and outs to get the top right. I've thought about the last two trades (which were ST winners but not the turn we're looking for). I've been a little impatient. the daily chart was not ready to turn in either case. It is ready now, but the weeklys are not. If it does turn soon, the weeklys will have a great divergence.

Trying to remain patient and get the trade right. That's hard to do in a manipulated BS market. Might have to do some more in/out choppy trading. Use the stops and feel free to take profits when you have them.

Short FAZ

15.27. Hope I am right this time. Will keep it on a short leash. 15.57 resistance16.00 might be it for the move. We'll see. If it gets thru 16 she's going somewhere good.

I'm just dipping a toe in here. Testing the water.

Closer

Closer, C=A at 1155 on the minis - sitting at 1145 now.

Temptation

I'm not sure if this is a 5 of C or a 5 of 3. Tough call. Watching closely. Might have to let the 30 and 60m on the minis catch up. Getting closer fir sure. Almost bit a few minutes ago. Remaining patient while watching the unimaginable rise occur pumped by the MSM and market makers.

Morning Post

Looking to get short today. I'll post as close to the trade as I can.

Getting Tempted Again

This churning may be a good sign for the bears. Let's see how the indicators react. I may try some shorts again soon. I got stopped out at the open on Friday with minor damage.

GL!

Really Pissed

Stops are tight and against my best intuitions I'm gonna swing the shorts (with stops) in the face of the jobs report tomorrow. I'm willing to donate 5% to the cause if I am wrong. This is such a tough spot with my call can go up (5.3.5) or down (ABC) from here. I'm betting on the overbought indicators for a correction. This is nuts!

We all know it is rigged and yet we still try to do what TA says. LOL. If TA says down, I'd ignore it. 

GL!

OK - I Bit Off A Chunk

1/2 position SDS at $33.90. Little late but so be it - hey - I was at lunch.I wanted to call it at 33.65 but could not pull the trigger.

1/4 FAZ on TL break @ 17.15.  (chicken shit I know, but I don't trust 'em.)

Looking for confirmation to load up.

Did not realize it had been a month since the last post. Well, 02/05 was the last low.  See - I like to call the big tops and bottoms. Let's see how we do here.