August 13, 2010

Morning Post, SPX, S&P 500, E-mini

I'm out - everyone have a great weekend. Thanks for the views. 

3:46 - Possible leakage.


3:22 - Price like water seeks level - Minis 1m move from upper VWAP band to lower and finally zone right in on the VWAP - Its AMAZING!

2:39 - What the fuck is that? friggin what? did it quit? Possible HnS breakdown back thru triangle resistance. 

2:10 - SPX triangle update - Overthrow or breakout and backtest or a new upper resistance line point? Based on 10m indicators it is an overthrow. That black dashed line is the upper resistance line for this bear move. 1086 is still resistance. 

2:02 - Never mind price, let's do a minis volume check - What volume? I waited to get that last bar in. This is anemic. 

12:23 - Is the Triangle finally revealing its self? Are we fools for playing this rigged game?

12:03 - And in other news at 12:03 today the markets were declared dead as all life support functions flat-lined. 

11:36 - Slippage? 76.69 is the next magical number.

11:33 - Waiting on the EUR? Sitting on support and 38% retracement at lower BB. Those daily indicators look ill. 

10:50 - Looking weaker - any move thru 80 on SPX should trigger some sell signals.Still in the range though.

10:39 - ARNA is a short candidate. Not a short at this time. Put it on your radar. When the market turns next time this one has some room to fall. 

10:25 - Support and resistance - something will give soon. 

10:15 - Markets may be dead - here is a chart for CSCO. I'm not saying to buy it or sell it. I'm pointing out that it is oversold and has left TWO uncovered gaps all the way up to the 61% retracement near 23.40.There is room to fall as the lower daily BB is near 26.5. Dailys look weak still. Just keep an eye on this one.That is a blown out 30m BB in this chart.Let me add that this sort of carnage is what you should expect to see all thru this fall. Lots of uncovered gaps to come I suspect.I'd love to see a lower low to set a divergence.

9:37 - Minis 30m look bullish.This is not a buy signal, but a screaming caution signal to the bear.Squawk still has muscle to the short side.

Morning - Off doing the big blog - At this point in time I have to vote for an oversold bounce sooner than later. I'm not guaranteeing anything as there is no reason for any bounce at all (plus the Hindenburg Omen). I think we'll get a flurry of announcements that are false and misleading from the Government and businesses to try and stem the tide.

Here is the RUT (the leader of the pack). Maybe little more weakness and a pop to 640 or posibly backtest the blue wedge support line then more severe weakness. If no pop, just severe weakness LOL.

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