Inverted head and shoulders on the SPX?

[AMT4SWA]

Quote from AMT4SWA:

NEAREST resting inventory is BELOW current price = MAGNET to those levels.

And today we saw price trade right down to the EXACT top of the next delta zone at 819.75's area....price traded to SIZE again with a reactive bounce off that area (as SHORT's used the touch to cover for profits followed by initiated buying). That delta zone has not yet been neutralized, so I will be looking for another rotation back down again soon (maybe tomorrow....we will see).

 

[Landis82]

Quote from S2007S:

Surprised the markets arent lower after all those 8 "brilliant" ceos are being questioned...

If you stopped watching so much CNBC and actually TRADED for a living,
perhaps you'd understand why.

 

[BullAlert]

Quote from Landis82:

If you stopped watching so much CNBC and actually TRADED for a living,
perhaps you'd understand why.

NO SHIT! This guy is a broken record.

 

[foreverstudent]

So, now that we are in the low 800s. What next? Does the symetrical triangle that we are in on the S&P500 have significance with you guys?

 

[sirgiyan]

What does have significance IMVHO is volume which was very weak today and a gap on the XLF at the opening today which should/could be filled.
So tomorrow will be very interesting and I'm actually leaning towards a down move.

 

[Kap]

Quote from AMT4SWA:

And today we saw price trade right down to the EXACT top of the next delta zone at 819.75's area....price traded to SIZE again with a reactive bounce off that area (as SHORT's used the touch to cover for profits followed by initiated buying). That delta zone has not yet been neutralized, so I will be looking for another rotation back down again soon (maybe tomorrow....we will see).

820 was a cover for me , but to see it spank 70 pips north with over 100K in vol in 15 mins still amazes me, primed fora retest imho

kap

 

[fantastic4]

I'm leaning towards the bullish side for a few reasons,

1. Bullish harami

2. Support held

3. Vix dropped about 5 times more than the idices rose

4. TRIN was very bullish almost all day

5. BANK finished up

Bearish signs:

Can I get some feedback on bearish signs, I might be a bit too optimistic today

 

[AMT4SWA]

Quote from fantastic4:

I'm leaning towards the bullish side for a few reasons,

1. Bullish harami

2. Support held

3. Vix dropped about 5 times more than the idices rose

4. TRIN was very bullish almost all day

5. BANK finished up

Bearish signs:

Can I get some feedback on bearish signs, I might be a bit too optimistic today

BEARISH SIGNS...........

1. Obama has 11 Trilateral Commission members in his White House

2. Geithner is the Treasury Secretary

3. Congress just passed a stimulus plan

4. TARP II about to hit any day now once they come up with something (LOL!)

5. Commercial Real Estate market about to pull a chernobyl

6. WHY ON EARTH would anyone want to be long now....LOL!

 

[sirgiyan]

Volume, volume and volume.
As I said it was light overall and besides the most of it (volume) was on tops of the day but we still couldn't go higher - so there was selling every time we reached the highs of the day

Just MVHO

 

[sirgiyan]

Oh, I have forgotten to mention EURO/YEN and DOLLAR/YEN which do not confirm the move higher.