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  • #251,161
  • Jun 1, 2010 2:46pm Jun 1, 2010 2:46pm
oh, I think I get it, you're saying that if the wedge is pointing down, it is actually a bullish formation?

Quoting gatorinla
i case i didnt explain correctly.. the red and white lower tl did not catch the next attack.. the blue has yet to be tested twice.. but the blue is the only one that can make a bull wedge..with the yellow as a mate.. its the first with lower tl pointing down. the other 2 if they had developed were neutral..
"The real genius is knowing when to stop." - Marc Faber
  • #251,162
  • Jun 1, 2010 2:47pm Jun 1, 2010 2:47pm
es and dow are fooked lets see where they close tonight
  • #251,163
  • Jun 1, 2010 2:48pm Jun 1, 2010 2:48pm
Quoting smurf
It will not pass the 200 ema. But when or if it does, it looks like another 100 pips possible further south. These are crazy pips waiting for the right setup. Man where is my pateince. I need it now.
its already under 200ema? or am i looking wrong ? hope the short is gonna work out till 1.2180 en then up according to suthmo
  • #251,164
  • Jun 1, 2010 2:48pm Jun 1, 2010 2:48pm
Quoting kill56
es and dow are fooked lets see where they close tonight


screaming buy ?
Rule No.1: Never lose money. Rule No.2: Market is always right !
S&P 500 WTI/USD
  • #251,165
  • Jun 1, 2010 2:51pm Jun 1, 2010 2:51pm
Quoting hhitch
200 ema on which timeframe?

I am using the 5 min for my entries.

On the hour it is below.

Daily it is still below.

It just broke the 5 min. Let,s see how far it will go.

DO NOT FOLLOW MY TRADES. TRADE WHAT YOU SEE, NOT WHAT YOU HEAR, NOR ANY RECOMENDATIONS. THIS IS FOREX. IT'S ALL RISK. STUDY YOUR CHARTS. NOT BEING A SMART ASS.
  • #251,166
  • Jun 1, 2010 2:52pm Jun 1, 2010 2:52pm
Quoting DMA Trader
The S&P 500 has fallen below a P/E of 16, generally the lower part of its range during recent years, and the earnings forecast is still very favorable. Eddy Elfenbein says if stocks keep pace with valuations, then the S&P 500 could easily top 1,400 within 18 months.
it may.. i would suspect the Canadians get a lot of foreign investment with the new rate hike. this will just help the u.s. market.. eu can still go down and u.s. market can go up.. the cad rate hike will pressure u.s. fed to hike..
those who can, do. those who cant, talk about those who can
  • #251,167
  • Jun 1, 2010 2:53pm Jun 1, 2010 2:53pm
Quoting hhitch
oh, I think I get it, you're saying that if the wedge is pointing down, it is actually a bullish formation?
yes.. both tl
those who can, do. those who cant, talk about those who can
  • #251,168
  • Jun 1, 2010 2:53pm Jun 1, 2010 2:53pm
cleared it!

Quoting Naseri13
I think not cleard yet !~
"The real genius is knowing when to stop." - Marc Faber
  • #251,169
  • Jun 1, 2010 2:54pm Jun 1, 2010 2:54pm
interesting. I had never learned that subtlety before. thanks

Quoting gatorinla
yes.. both tl
"The real genius is knowing when to stop." - Marc Faber
  • #251,170
  • Jun 1, 2010 2:56pm Jun 1, 2010 2:56pm
Quoting gatorinla
it may.. i would suspect the Canadians get a lot of foreign investment with the new rate hike. this will just help the u.s. market.. eu can still go down and u.s. market can go up.. the cad rate hike will pressure u.s. fed to hike..
do u have an opinion on this? either way, Im just curious..i just don't see new money coming in to invest in in us blue chips but wasn't really thinking from the perspective of Canada and outside influence. i figured es back down 850 area first
  • #251,171
  • Jun 1, 2010 2:56pm Jun 1, 2010 2:56pm
Quoting hhitch
oh, I think I get it, you're saying that if the wedge is pointing down, it is actually a bullish formation?
If trend is down and wedge is down, it's a bull wedge. If trend is down and wedge is up, it's a bear wedge.
  • #251,172
  • Jun 1, 2010 2:58pm Jun 1, 2010 2:58pm
Quoting gatorinla
50m left.. sell off?
good call
  • #251,173
  • Jun 1, 2010 3:00pm Jun 1, 2010 3:00pm
Quoting gatorinla
it may.. i would suspect the Canadians get a lot of foreign investment with the new rate hike. this will just help the u.s. market.. eu can still go down and u.s. market can go up.. the cad rate hike will pressure u.s. fed to hike..
I can't speak for 18 months. It's beyond me. but Markets tell us that they are afraid of Europe dragging down the global economy.

So 1400 (40% from here).

Banking sector is sick in Europe
Basic material is vulnerable since China is slowing.

So what is going to lead the rally to 1400 ?

Also Australia and Canada are benefiting from China growth should be hit soon. I don't predict that since they are my fav places. But there are some bubble in housing and mining there. Look at Sydney real estate.

So I really doubt 1400 now.
If things change I will change my opinion but thats what I think today.
Rule No.1: Never lose money. Rule No.2: Market is always right !
S&P 500 WTI/USD
  • #251,174
  • Jun 1, 2010 3:02pm Jun 1, 2010 3:02pm
cool, thanks for stating that

Quoting Mr J
If trend is down and wedge is down, it's a bull wedge. If trend is down and wedge is up, it's a bear wedge.
"The real genius is knowing when to stop." - Marc Faber
  • #251,175
  • Jun 1, 2010 3:06pm Jun 1, 2010 3:06pm
Quoting suthmo
I Think we going up big time in a minute. We Might go down to 2183 but then we go up to 2445 lets see.
Could be 2205 to 2445
Founder of Sutherland Wave Principle
  • #251,176
  • Jun 1, 2010 3:06pm Jun 1, 2010 3:06pm
It would not surprise me if the market plunges overnight. I am holding my shorts till tomorrow just in case there is a good surprise.
  • #251,177
  • Jun 1, 2010 3:07pm Jun 1, 2010 3:07pm
BP -15%

US has launched criminal probe into BP spill-Holder

that should drag the FTSE tomorrow too.
Rule No.1: Never lose money. Rule No.2: Market is always right !
S&P 500 WTI/USD
  • #251,178
  • Jun 1, 2010 3:10pm Jun 1, 2010 3:10pm
taking the lady out to lunch, i'll be back. holding some shorts still
  • #251,179
  • Jun 1, 2010 3:10pm Jun 1, 2010 3:10pm
Market recap: Stocks moved sharply lower in the final hour of trading after staying in positive territory for most of the session, as BP's (BP -15%) woes dragged down the energy sector and new Middle East tensions added to the late selloff. Decliners led advancers on the NYSE by nearly five to one

This was the third-worst post-Memorial Day in S&P history.
Rule No.1: Never lose money. Rule No.2: Market is always right !
S&P 500 WTI/USD
  • #251,180
  • Edited 3:30pm Jun 1, 2010 3:10pm | Edited 3:30pm
cool so what has been happening

just got in
looks like a bull trap anyone trapped on the wrong side?
hope not

I sold lot the 00 and the 50

cheers

teb
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