Poll Your Thoughts On Next Week Market Direction

[Petsamo]

This'll be the third attempt to rise above the 200 day MA. You guys think we'll bust through this time?

 

[Ivanovich]

Quote from Petsamo:

This'll be the third attempt to rise above the 200 day MA. You guys think we'll bust through this time?

Yes.

 

[Ivanovich]

Risk orgy in full effect. Long is the song.

 

[noddyboy]

Quote from Ivanovich:

Risk orgy in full effect. Long is the song.

Disagree--I think this looks like a low risk short at this point.

 

[MohdSalleh]

look at the volume, its freaking abysmal. everyone's watching the world cup or on holiday

 

[ssaya401]

Expiration week combined with how close many things are to the 200 day moving average has me sitting on the sidelines.

 

[Ivanovich]

Quote from noddyboy:

Disagree--I think this looks like a low risk short at this point.

Looks like you might be right! Though whenever I see volume this light, the algos win it.

 

[upandcomer]

This morning I sold everything I bought last Monday. Glad to see the consensus on ET is that this will be a bullish week.... thanks for reassuring I made the correct decision.

...buyer toward the end of this week or early next

 

[Lojanica]

Quote from Lojanica:

Lots of divergences today Friday. What to make of it? It looks bearish for equities IMHO but man is it hard to figure out right now. Lots of choppy action.

Today's morning action prompted me to sell it all. 95% cash. I'll wait this rally out and wait for a pullback then long with a tight stop. If we rally like before it will be a pub crawl then a shellacking in Late Summer or Early Fall

 

[S2007S]

After reading numerous articles it seems nearly every single trader is on the same exact page with where the market might be trading over the next few weeks.

Range is 1040-1105 on the SPX.

Break below 1040 and sub 1000 levels approach extremely quick, 950-990 is certain.

Seems the 1040-1105 is the range this market will be in until one of these numbers breaks.

A break above 1110-1115 and 1150+ is the prediction to the upside, however who knows how long the rally if there is one can be sustained, every time this market encounters a rally volume slows greatly.

I think this range breaks before July and volatility stays for quite sometime.