I sense a rally in the market

In addition, go back a year and you will see that Dow, SP500, Nasdaq Comp had established a Jul/Aug resistance high which is now support.

Quote from Bob111:

even Stevie Wonder can spot this triple bottom pattern and market attempts to rally in past couple days. now we are waiting for a catalyst to go either way. but i agree-market is trying to go up from these levels.
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Quote from hajimow:

If you think that I started this thread to get EliteTrader lengend award, I can assure you that when/if I get it, I will either return it or will forward it to you because you found my big trick.
And if you believe that I started this thread, when the market started to edge up, you are right. At the time that I posted , S&P was down only 1.2%. That just shows that I was not using my glass ball or BSing. I used the data and the hint that the market gave me to predict what might happen soon. Now that I look back, I really deserve to be called a EliteTrader Lenegnd.
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ES and SPX were down 1.01% at the time of your post which shows yet another attempt to falsely "improve" the call. I wouldn't have questioned it had I not gone long a few minutes prior.

An eidetic memory can be helpful/maddening. Do you recall your BS that you earned 300% on a $0.70 risk-reversal gain? In reality it was a 100d synthetic short.

http://www.elitetrader.com/vb/showt...448&perpage=10&highlight=hajimow&pagenumber=2
 
Will today be a rinse and repeat as yesterday? Time will tell. I don't buy too much in these down days. Something is fundamentally strong in the market. Correction? yes but collapse? No.
I also believe the top is limited too.

As I post this, ES is down over 1% and market is not open yet.
 
A general advice for trading better.

If you want to clear your mind and not be affected by market noise, don't watch to MSNBC these days (I don't pay for that channel so it is not even in my package). Those paid clowns don't know what they are talking about. They are entertainer rather than market experts. They will screw your mind no matter you want to follow them or not.
 
Quote from hajimow:

A general advice for trading better.

If you want to clear your mind and not be affected by market noise, don't watch to MSNBC these days (I don't pay for that channel so it is not even in my package). Those paid clowns don't know what they are talking about. They are entertainer rather than market experts. They will screw your mind no matter you want to follow them or not.
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Best advice!

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Maybe I am wrong but from what I see so far, I believe market will recover again today.
AAPL is shrugging off the losses and wants to get into green territory. AMZN is already up. Usually sharp drops in the market shows the loose hands are gone and is followed by a recovery. SPY dropped to 134.50 and then recovered. Now at 135.29
 
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