Obvious Prediction: Powerful Seller Returns Next Week

[ammo]

http://evilspeculator.com/?cat=3 molecool posted a nice setup in the vix

 

[ammo]

Quote from NoDoji:

I'm a technical trader doing my best to ignore the news and ONLY pay attention to how price reacts to the news. A lot of bad news was set on the table last week and the market held up very nicely.

Technically, ES on the daily chart tested and broke thru the upper Keltner channel line several days ago, pulled back to the 20-bar EMA, found buyers there (trend followers now bullish since the previous resistance level established early in the month was broken, negating the further downside price action one would expect had another lower high been put in).

Price tested the 20 EMA again on Thursday, broke it down and QUICKLY found buyers again. That hammer left behind on Thursday followed by a bounce off the 20 EMA on Friday now pushing back up toward the upper Keltner would point to further upside. Technical traders would expect price to retest that 1115 level, barring any real news surprises to the contrary.

It seems to me like the market goes where the most people expect it to go, and the majority of market participants are trend-followers.

if you could manipulate the market and smaller players, and wanted to get short , what would you do

 

[NoDoji]

Quote from ammo:

if you could manipulate the market and smaller players, and wanted to get short , what would you do

I'd run it right on up

 

[Lojanica]

Quote from ammo:

http://evilspeculator.com/?cat=3 molecool posted a nice setup in the vix

Nice chart.

 

[ammo]

spx daily

 

[Petsamo]

Leave it to Bloomberg to come out with bearish news. Sweden fell back into recession due to falling demand for its exports.

http://www.businessweek.com/news/20...nto-recession-in-fourth-quarter-update1-.html

 

[Ivanovich]

Quote from Petsamo:


The market, however, shrugged off the news on Friday. Maybe da bears will show up Monday?

Because the news is irrelevant. It's all about no volume HAL9000's trading with each other at the (possible) delight of Banana Ben.

 

[Scataphagos]

Quote from Ivanovich:

Because the news is irrelevant. It's all about no volume HAL9000's trading with each other at the (possible) delight of Banana Ben.

Do you realize.... less than half of traders even know what a HAL9000 is?

 

[Ivanovich]

Quote from Scataphagos:

Do you realize.... less than half of traders even know what a HAL9000 is?

Perhaps, but that doesn't mean that HAL9000 doesn't know who THEY are!

Opening Gap Up did not fail, incidentally.

 

[Lojanica]

Strong dollar. 30 points up from the melt-up. End of month flows dwindling. A fair amount of overhead resistance to breakthrough.

Hmmmm. Does this rally have legs. Not without dollar strength weakening. That's the key for tomorrow. And certainly not for breakout highs above 1150. There's a sh*tload of cash on the sidelines waiting to be deployed but the market ran too far too fast is the overall feeling. We're crawling up not bolting up unless you see the type of sharp interday corrections which people are using to cover shorts or initiate longs.