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13-09-2011, 10:30 AM
#861
winner, dumbass, hoop - any new thoughts on the US markets?
cheers
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13-09-2011, 11:31 AM
#862
my feeling is that we are setting up for a rally to suck a few bulls in , target is the 1240 pivot.
this is really just a set up for a bigger short wave lower , i like to trade the counter trend rallies but with extreme caution, safer bet is to short this rally.
long from 1140 stop to break even
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13-09-2011, 12:13 PM
#863
Market Internals:
VIX Close_< 31 first cautious signal the market ready to continue the bull trend
VIX < 29.3 a strong positve for the market
VIX Close_38.59 12 September 2011- remains in the cautious/danger zone > 31_29.3
C-RSI-30 negative -8.66
Trader Update:
Hedged *1378 Trade: sold the SPX 500 *1202 - Target Range: below *1096 - Stop: *1187
...holding the *1136/*1146 support range, the SPX 500 rallied into the *1168/*1178 resistance - further upside potential into the *1178 short term trendline resistance based on the September 12 Congestion High *1151 holding
...above trendline resistance *1178, upside potential carries the index int overhead resistance current *1235
...failing *1178, the market turns bearish again - in that case, expect the September 6 Low *1136 to fly out the window, pushing the index for a second test of the bull level *1103 at a minimum
Kind Regards
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13-09-2011, 01:00 PM
#864
carefull belg that nearly makes you a sucker!
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13-09-2011, 02:27 PM
#865
A greek default seems inevitable now... along with many EU bank downgrades. The whole rally this morning on some Chinese buying bonds rumour seemed ridiculous.
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13-09-2011, 02:47 PM
#866
Originally Posted by Entrep
A greek default seems inevitable now... along with many EU bank downgrades. The whole rally this morning on some Chinese buying bonds rumour seemed ridiculous.
I agree the China story seems weak to me also to move world markets.
If this is the case in the absence of any other major developments US may be weaker tomorrow ...
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13-09-2011, 04:15 PM
#867
...the SPX 500 2yr/week: a bullish set-up above the June 17 2010 High *1133 - any violation of the key support signals weakness ahead - any Close below key support while price < 200-d MA_plus extreme bearish sentiment = extreme risk for violent price falls
Kind Regards
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13-09-2011, 08:32 PM
#868
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13-09-2011, 08:54 PM
#869
Hi Hoop, thanks for another great explanation of our current situation, I always value your posts....I am interested in why you call the 1120 support weak? With such high volume buying into the S&P at that level doesn't it give the support strength?? Always interested in your view (and anyone else who wants to chip in). Cheers FD.
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13-09-2011, 08:57 PM
#870
PPT kicked in late yesterday by the looks of it
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