1:37 - TNX crumbling all day.
11:46 - IF this was a HnS breakout you are looking at a 68 target. this is obviously not a given and highly suspect play, but it is a possibility.Who the hell really knows anymore? I would be really surprised if that blue diagonal cracked to the upside. 15m overbought and looks like a blow off top scenario (adding to that of this morning).
10:32 - INTC - This is not normal - a pop like that after revision? throw in a market rally and you have some VERY suspect action. In other words this is total bullshit.
10:29 - Pick a gap - any gap. That was insane.I'd say they are protecting 40 big time. What do you think?
10:07 - SPX this morning. Green rectangle is the island gap. Not giving it much cred, but those like to fill.No fibs sorry. Not needed, just went lower low.
9:45 - Ben at 10 - minis with S/R levels. Black line is the 200ma. Pink line in the middle is the VWAP. Pink lines on top and bottom are the VWAP bands. White are BB's.
Not willing to stick my neck out on the GDP number tonight. At midnight minis are dead on zero and have had a range of 5. Dollar is flat and so is gold. AUD/JPY spiked some. EUR/USD is quiet. TNX is flat.
Bewwy qwiet as Elmer Fud would say.
SPX long term weekly chart from the top in '07. This chart is best viewed HERE in my chatbook. For those of you new to following me this is the chart I used since before last October to really zero in on what was my 1224 target for the top. I also called the earlier fall to lower the supporting diagonal before the higher highs would be set (the C to D move of the wedge).
See that tiny pink box? Let's see if wave one can end inside it near 940. For the longest time I have speculated that wave 1 of 3 would backtest the bear market upper trendline and then bounce up for two and on a powerful 3rd finally crack back thru on it's way to lower lows.
There are two valid bear market resistance lines (black and blue. The black one is the one I am using for this target. The blue one is sitting right under price here and may have influenced the pop at 1040 with the support there. I chart with various platforms and the black one seems most consistent amongst the charts.
That pink box is the most logical spot for this to happen. Pure speculation, but it is worth a shot. Actually I consider this a conservative call and have targets lower than that.
