Market Outlook

Like how the SPY just barely touches its 100 day moving avg, going to be interesting when it does finally break down hard and closes well below that, until then they will keep trying to prop it up as much as they can.
 
Feels like they are trying to find a direction, with the dow off and the nasdaq up one is going to follow the other eventually. A lot of push and pull in the market on down days, on up days however everything seems to be a bit more on the quiet side.
 
Quote from GrandSupercycle:

DOW weekly chart at blog shows rising wedge enclosed within massive megaphone top - warning of another Black Swan that came out of nowhere and nobody could have foretold . . .

http://stockmarket618.wordpress.com
More...

Isn't that thread supposed to be in chit chat and the OP spitting his repetitive nonsense elsewhere on the net ?? A shame really he felt the need to come back and foretell yet " another Black Swan that came out of nowhere and nobody could have foretold ".

Guess his blog isn't getting enough hits yet - friggin' surprise :D
 
luisHK, you are wrong once again.
I get approx 1,000 hits a day on my blog.

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Investors, ignore the trolls and would be traders.
A serious sell off is coming.

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Trend = moderate to strong USD bullish / EURUSD bearish.

Previously suggested short term upside for stocks – now looks
unlikely. What I am sure of is that resumption of equity correction is very close and bearish DOW/SP500 daily chart exerts more influence over mildly bullish intra day signals detected last week. Daily signals indicate directional move down is imminent.

Futs last 12,424
 
3 misses today



Miss in housing numbers

Miss in PMI

Miss in Consumer Confidence numbers


Whewwwww


Only bolds for a positive week as Bubble ben bernanke gets ready for the release of QE3!!!!!
 
CURRENT TREND = USDX bullish-neutral / EURUSD bearish-neutral
GBPUSD bearish / SP500 bearish-neutral


XAUUSD (Gold in USD) weekly chart at blog shows steep uptrend and reveals how far it is from long term trendline. This over extension will revert to the mean and I still expect significant Gold downside once equity sell off resumes.
 
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