huge stock market rally is over for now!

Is the huge rally over for now?

  • yes, rowshan is usually right

    Votes: 110 34.2%

  • No! more upside ahead

    Votes: 113 35.1%

  • I don't know/I don't care/stop with your polls

    Votes: 106 32.9%
  • Total voters
    322
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Quote from Now is Now:

I am looking for a prayer that this market backs off today otherwise I have to cover my shorts at the end of the day...:mad:
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I was just about to comment along the same line, when I saw this last post, so might as well just quote it.

The market action definitely looks like a ginantic short squeeze right now... it doesn't look like 'good buying' any more. (It was 'good' in the past few weeks, but this big shoot up at the open certainly looks like shorts throwing in their towels.)
 
Either way, would like to stay in,but I have to take my loss...PBR never gave me real chance and XLY stuck in there until the last two days...have wait for a reversal on XLY beforw I can go back in...:mad:
 
Equities, currencies, commodities should all start rolling over now. 966 would be a great print but FX market says we're heading lower now.
 
Well for what it's worth S&P trader on YOUTUBE has 942-947.50 as the range here for support and resistance. Let's see how we bounce around today and if it breaks to either side.
 
Wow! did Peter Kosta nail it or what? The S&P was tanking, with the spy trading at 93.80-93.85 when Kosta confidently declares on CNBC that the market will trade in a range today. And just like that, it recovers. Wow!
 
The charts of the nasdaq and s&p seem to be going for a head and shoulders formation. With most of the head complete, I think we've seen the highest levels of the rally and we wont see them again for a while. Watch for the fed hinting at raising rates. Thats when the real fun begins.
 
Quote from omarm1984:

The charts of the nasdaq and s&p seem to be going for a head and shoulders formation. With most of the head complete, I think we've seen the highest levels of the rally and we wont see them again for a while.
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If you are correct here, that would be impressive clairvoyance to say the least. The head is not even complete, and I don't see that pattern..yet.

If your prognosis proves to be correct, i'll be the first to congratulate you!
 
Quote from omarm1984:

The charts of the nasdaq and s&p seem to be going for a head and shoulders formation. With most of the head complete, I think we've seen the highest levels of the rally and we wont see them again for a while. Watch for the fed hinting at raising rates. Thats when the real fun begins.
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People have been saying this for about 200 spx points now; it's becoming white noise.
 
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