The Market Non Rally. Big Market Drop Coming Next Week. <a href=”http://www.cmttrader.blogspot.com.com/“>Visit CMT Trader</a>
There was so much we were hoping for this week. Some ounce of optimism that we could peg our hopes to. But many of the charts did not respond. It was lackluster from Tuesday on it just felt like we were spinning our tires hoping to go somewhere but the markets did nothing, and we can see that reflected in the SPY Chart and many of the other ETF/Indexes that track the market. Lets take a look.
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yes … my bullish trigger level was 1313 … but despite a trigger …. market did little on subsequent days …. infact it threatened to go down a few times ….
i wl post here my weekly levels for next week and let us see how they look ….
keep watching ……
in fact u can check my intra levels …….. at http://www.sumamura.com/sumamura-messages/ … look at apple / google / JPM ….
Seeing the same in copper. Rallies are producing nothing but more selling, technicals are all pointing down, we even saw it on Friday with consumer confidence at multi-year highs, failing to give anything but more selling. I explain more on what technicals i see on my website. www.eggmanagementgroup.com
Seeing that consumer confidence come in really well on Friday, then the market selling off was a tip off that next week is shaping up to be nasty
Couldn’t agree more, could this also be a prelude to Employment data at the end of the week? The market always knows more than you or I.
Seems the boot is on t’other foot……..a couple of months ago the markets were able to constantly rally even when faced with bearish news….now we seem incapable of recovery when better news occurs! Psychology has down a volte-face, strap yourselves in for a bumpy ride south……..
Yeah, get everyone short, then the Fed announces a new round of phoney baloney $$$$…oh,
Things in the States aren’t “bad enough” to warrant QE7 (…that’s the one we are on right now right?) So we still have some time between EU worries and more QE, keeping me short right now. But to what point do you think QE will be warranted? Will Greece need to be out of the picture and if so how long till it will kick in? Comments?
Yes, each round of QE is proving to be less and less stimulative…so the Fed will probably wait till the S&P is testing last year’s lows before pushing the “launch” button, but it seems inevitable to me. At some point, it simply won’t work any longer. Money isn’t wealth and when people start really seeing that all this money printing is simply providing short term illusions of growth, then we can truly get SHORT! When will that be? I wish I knew. This is a new monetary experiment with ALL the Central Banks in on the scam. Maybe they can keep it going for years! Somehow, I doubt it….we’ll see.
Agree totally here………to estimate S&P levels to encourage more government intervention is spurious, but we will probably have to see levels below 1200 for that to occur, but stranger things have happened!
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