Afternoon Rally?

MrDODGE · May 4, 2009

We have seen this same chart pattern over and over for weeks now. The market jumps in the morning on short covering and then consolidates for a few hours, only to return to rallying in the afternoon. I see no signs this won't happen today. Even the index future charts are showing the same pattern as they have throughout the entire rally.

Will we see another afternoon rally?

Pekelo · May 4, 2009

Quote from MrDODGE:

Will we see another afternoon rally?

I typed your question into this:

http://www.wolframalpha.com/

It said yes....

Scataphagos · May 4, 2009

Quote from Pekelo:

I typed your question into this:

http://www.wolframalpha.com/

It said yes....

Is this anything like Jeeves II?

MrDODGE · May 4, 2009

Rally on market, rally on

I can see those green shoots growing!

Roman Candle · May 4, 2009

Quote from MrDODGE:

We have seen this same chart pattern over and over for weeks now. The market jumps in the morning on short covering and then consolidates for a few hours, only to return to rallying in the afternoon. I see no signs this won't happen today. Even the index future charts are showing the same pattern as they have throughout the entire rally.

Will we see another afternoon rally?

Hold you nose and jump in.

MrDODGE · May 4, 2009

Quote from Roman Candle:

Hold you nose and jump in.

Sounds like muff diving

Pekelo · May 4, 2009

Quote from Pekelo:

http://www.wolframalpha.com/

It said yes....

...and it has been right.

Roman Candle · May 4, 2009

50 points range in the Dow for the last 5 hours.

Roman Candle · May 4, 2009

No sellers only buyers. Buyers loading up for another 100 point move high into the close.

Long YM 2 contracts 8320. Selling both @ 8380 right before the close.

Roman Candle · May 4, 2009

Quote from Roman Candle:

No sellers only buyers. Buyers loading up for another 100 point move high into the close.

Long YM 2 contracts 8320. Selling both @ 8380 right before the close.

Stop 8280.