Boy Who Cried Bear Says We Are Going Down

SPY Next Week

  • Bullish

    Votes: 28 18.3%

  • Flat

    Votes: 15 9.8%

  • Bearish

    Votes: 46 30.1%

  • I am sick and tired of you kids playing the prediction game

    Votes: 64 41.8%
  • Total voters
    153
Today was the first inside day I've seen in a long time on the S&P. Today finished as a doji and was really the first sign of indecision this market has had in a while.

The volume is not on the bulls' side right now. We are going higher but volume keeps decreasing.

The sign that I'm looking for is a break down or break higher of the $tnx from this symetrical wedge that it's been stuck in for a couple months. Once that is resolved one way or the other (At TalkingTechnicals.com we beleive it will be resolved to the downside by Monday or Tuesday = bearish) we'll be able to lean more heavily on the side that it breaks.

So... overall sentiment is bearish but Price is #1 and we've made plenty of money long in this rally.

Brad
TalkingTechnicals.com
 
Quote from Ivanovich:

Err...and in gold. Holy cow.
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gold looked wrong last week..
Love to be in it long, but the action is like bearish,
from this viewpoint, if theres deflation in gold
i don't think theres going to be more rallying in equities,
 
Quote from Ivanovich:

Based on moves in the currency market, I am flat. Something doesn't look right.
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All commodities are selling off, dollar up and EURO sovereign debt unresolved. The banter from the paid for talking head is buy, buy, buy we're going to 1200 or 1300 at least. This is a melt-up. Too much money sitting on the sidelines and no where to go.

Chasing long in nosebleed territory?

I'm gonna short this shit hard and soon but as you say wait for the end of the quarter.

Itchy finger over and out...
 
If you can handle a bit of pain, it might behoove you to consider getting in a week before the end of the quarter. That's when the rats will be jumping ship.
 
Quote from shortie:

I just had a dream that I would like to share with you guys. The dream was very vivid, felt very real (nothing erotic, just the charts :) ).

Here it goes: the market will dump >3% on March-22-2010. There was some uncertainty in the dream about the size of the dump and the date. The dump will be more than 3% but not clear how much exactly. As far as the dates are concerned, I could figure out the probabilities from the tables that the dream kept flushing for me: 10% this Thur, 15% this Fri, 40% next Mon, 15% Tue (Mar-23), and 20% for NO dump in the above 4 days.

Take this with a grain of salt, but like I said the dream felt very real...

Baba Shortie Vanga Out

p.s. i am sharing my private dream so that i could get the full credit when it actually comes true
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-1% and Fri is not over, then there is Mon...
 
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