S&P500 made a double bottom today!!!

[ByLoSellHi]

Bad feeling.

There is no catalyst.

 

[Joab]

Quote from Port1385:

Here is more proof of the bottom. The bottom is in.

Best indicator in the world.

 

[nyxtrader]

I took half off at 84, I was long from the daily pivot from 78. Rest will have a stop at b/e plus one tick.

 

[AMT4SWA]

Quote from AMT4SWA:

1/2 out at 1282.50 with 1272.50 and 1262.50 as my last profit targets. Market will trade down into a new lower trading range imo....1250's will be tested soon.

We are getting closer to the 1272's as Oil and the Euro run....next target still at 1272.50 and I also just entered some short positions in the QM at 143.75.....all kinds of fun today.

 

[AMT4SWA]

I just took ES short fills at 1273.50 (good enough) and I moved my last target down to 1261.50. If the market closes in this area today the overnight session will be very interesting to say the least.

 

[S2007S]

wait till the ecb announcement and job data t add positions its going to be volatile tomorrow........dow could easily fall below 11k.


Until oil corrects this market is headed lower.

 

[Landis82]

Quote from S2007S:

Until oil corrects this market is headed lower.

The OIH just made a key reversal.
I know that this might not register with most people on ET cause they don't rade technically, but . . .

New highs in a "throw-over" out of a diagonal pattern, and then came back into the "range" under 225.00 which is a very bearish sigh.

Now has taken out yesterday's lows at 218.40

Huge program selling in the drillers!

 

[S2007S]

Quote from Landis82:

The OIH just made a key reversal.
I know that this might not register with most people on ET cause they don't rade technically, but . . .

New highs in a "throw-over" out of a diagonal pattern, and then came back into the "range" under 225.00 which is a very bearish sigh.

Now has taken out yesterday's lows at 218.40

Huge program selling in the drillers! [/QUOTE


Is this a signal that oil is topping out???


Look at basic materials today, falling EXTREMELY HARD today.


I believe oil has to correct before equities turn north.

 

[AMT4SWA]

Sold additional QM at 144.00 and will cover my 143.75's at 143.50 level. ECB decision will be the fireworks tomorrow!

 

[AMT4SWA]

Quote from Landis82:

The OIH just made a key reversal.
I know that this might not register with most people on ET cause they don't rade technically, but . . .

New highs in a "throw-over" out of a diagonal pattern, and then came back into the "range" under 225.00 which is a very bearish sigh.

Now has taken out yesterday's lows at 218.40

Huge program selling in the drillers!

Yes....great observation.

On a side note....do we see all the LONG's off the 1261's puke them up today before the close or do they hold again overnight.....LOL!