FOMC Manana

Quote from duard:

Big deal so I stopped out as the Spoos squeezed one level higher. The thing is I saw the shelf. The dom showed continued support as characterized by a lack of follow through and big orders ticking up 4 handles at a time every time it started to sink. The reason for the fade the top versus buy the breakout is for days like today. You take a position, it looks good (that is the open and early trading did look as though it might rollover) but alot of things don't jibe and low and behold the early shorts get squeezed. By selling the top of the bracket and not the breakdown your cushion is greater and your stops are tighter. Better risk to reward.

So much for the one hit wonder, huh?

Just wait it's comin' the selloff, I can smell it the crazed trader mutters as he drools on his computer keyboard babbling incoherently. The longs fattening their pockets with my money. Bastards!!!
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That previous resistance is going to be strong support.
 
Quote from volente_00:

That previous resistance is going to be strong support.
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I appreciate your bullish enthusiasm and except for today was bullish for a week straight. But what you probably don't know is I'm always an early short---- sort of a weakness I suppose. I admit I stopped out and I didn't reverse long but I'm just not bullish. I need to lose the opinion because I ALWAYS lose money when I trade my opinions and not the market in front of me. I'm sure this is probably one of the hardest trading pitfalls to overcome-- at least for me. I know it but I still phuck up. I started this thread for others to learn and hopefully from the good, the bad, and the ugly.

So for now I must withdraw into my world because seriously pushing myself into making these calls is deleterious bravado.

Good Luck
 
Quote from duard:

1310 target upside, then dowwwwnnnnnnnnnnnn.
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Cash hit 1310 and Monday is post-expiration. Does this mean anything? Did the target get jilted by the rollover in the futures contract from march to Jun 06 and the resultant 10 point shift in premium. Is the prediction accurate and holding?

Next week will tell the story. The rest is a mystery.
 
Quote from duard:



The recent volatility looks more "bottomly" than "toppy" and with options expiry approaching and a relatively firm bottom in place with any strength monday I'd bet on higher prices this week followed by a rollover with lower prices after options expiry into april and perhaps beyond.
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That was 30 ES points ago. Damn.

Stick to the plan man. One of these decades I'll get this sh&%t down.
 
Transports have led this market higher and may be worth watching. They were weaker going into expiration as broader market held very firm.
 

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I've received very differing opinions from different market participants this weekend from Cramer's we're in a "New Bull Market" to "Sell now" and everything in between.

I'm not gonna step in front of the train but I'll be there if it breaks to add momentum down you can be sure of that.

Not buying not selling just watching for now. Globex tonight will shed some light on tomorrow's session. But as mentioned my bias is heavily short. I made money short on Friday not spectacular but still it pays the heating and electricity. These computers are hungry....
 
Variant(s): also as·cen·den·cy /&-'sen-d&n(t)-sE/
Function: noun
: governing or controlling influence : DOMINATION
 
The "Bad news" to match the weak to neutral market today.

Ben Bernanke said on Monday it was hard to gauge why long-term interest rates were so low.

BERLIN - Higher prices for oil and energy pushed German producer prices up in February at the fastest annual rate in nearly 24 years, according to government figures released Monday.

Last week the market could do no wrong "New High's", "End of Fed Raises", "Good Earnings"

Blah, blah, blah



Now we're setting up for the sell-off.





Watch those transports.
 

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Rising wedge

A rising wedge is formed by higher highs and higher lows. A bearish signal, the pattern is normally a continuation signal in a down-trend but acts as a reversal signal when encountered in an up-trend.
 

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