"...Peering into 2011
2009 - Was the year for the birth of the stocks stealth bull market that saw stocks soar into year end from the March 2009 Lows (15 Mar 2009 - Stealth Bull Market Follows Stocks Bear Market Bottom at Dow 6,470 ).
2010 - Is turning out to be the year of consolidation...
I wish I paid more attention ;)
At this stage in my life I definetely prefer 1 big kill a year to lots of small shots. I will try next year to gun for a biggie. Thanks for your help & guidance in 2010 & others too.
Have a great 2011 in the face of the unknown courtesy of our governments.
Last month bearish doji's low hasn't been tagged. It was 'protected' otherwise even a tag could have sent a message of a double top in place. Instead price took out doji's Hi & next week ought to be continuation of bullish move beyond last month's Hi & a new high for 2010. I have a thread...
Just to add, Daily & Weekly TICK looks OK to me, no immediate danger of a sell off. They managed to keep equity markets up, so likely to continue up until further notice ;)
NQ is likely to head towards next resistance of 2,256. Notice the big IHS, its neckline broke 2,056, pulled back towards it last month & now up again. Beyond 2,256 break is 50% range of 2,840...
Pretty much.
What is your plan B? Let's get real for a moment. How do you monitor when not to go long or when to get out? Is your stop at 0? Ain't nothing wrong with that in fact, as if SPX hits 0 money as we know it will probably will be worthless anyway.
IMO that now looks set for a pullback.
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Big December volume in DX suggests that something is about to unveil itself. Technically it looks like Gold ought to at least retrace to 50% of current move & DX to rise towards...
It's been 5 trading sessions in December yet look at DX volume, it's impressive. Already almost matching last May's volume! There are some big bets/hedging going on there. Makes you wonder.
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