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Futures Resistance At 1,085 Proving Material As Volume Moves From Fumes To Empty
The technical barrier of 1,085 was a major support on the way down, and today is proving to be a major resistance as the market tries to climb back up. So far three tests at the 1,085 level have been unsuccessful. As Greece has been dropped to the back-burner, all robotic systems are go, further demonstrated by the complete collapse in volume during the afternoon session. Should ES break above 1,085 limit cover order may kick in, taking the market higher, although it appears that the selling pressure just below that threshold will be too much for the market to digest today.
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Welcome to the Matrix.
The Matrix ~ HFT ... and "you can wear a condom but you can't come here."
cause its "half psychotic, synchypnotic, [we've] got our blueprint its symphonic ....
all 'we' need to do is use [our] muscle, carve it out, work it, hustle and we got it; just stay close enough to get it.
but, don't slow! just drive it, clean it, lights out, bleed it [and] spend the lasto.
[we know] you got it, in your pocko."
best not to keep dancing, cause it's time that we rotate and its getting real late.
two words: everybody move ! (goldman people got this)
Don't worry, the futures will take that out tomorrow :P
I was so close on Amazon too... tsktsk, ahhh well...
taken out just 4 hours into overnite session heh heh, someone in the PPT are reading this blog or TD is actually part of the PPT, seeding bear trades among us only for the HFT to take us out. Time to trade the inverse of TD's calls.
Turn on that press, BS!
Look for sub 10,000 dow and sub 1000 S&P in the not-too-distant future. The slide is beginning. Like an avalanche at the beginning, couple of teeny little snowballs come rolling down . . .
good look, TD. next daily inflection comes in at 1086.75 - 87.25.
ES'll likely bronco buck til 4:04 to kiss it, then mosy on back to fill VWAP 'holes' in the AH session.
lol, this sideshow carnival ain't done yet folks, don't get your britches in a tizzy as you keep fighting this market, we gotta retest the trend and 50d MA's before we get a full test....
AB...
CD...
Well it'll be interesting to see how the bots trade this.
1st chink in buy algo 1 tick underneath just occurred. nothing confirmed
phaesed great call on todaysbounce on Friday...hope your next 4 day forecast eventuates...if todays gold action is anything to go by than we should see some more green in the short term
ty! believe me.... I've lost plenty of money too :) Gold's been pretty awesome and we actually had a decline in the market if you rebase the S&P to it (i look at that as "our tax dollars weaken while they work") :) I wish I had played it but I'm more of a stock/bond person. Although if we don't break 112 on the GLD in the next two weeks I'm buying puts :)
1086.25 on close also DX on low at close ... who follows who DX or ES?
DX leading all right now by a hair.
(1) EURUSD & (2) EURJPY each the leading risk metrics for (1) equities & (2) commod space
Thanks
The stock market is running on vapor fumes. Volume we don't need no stinking volume. We got 3 robots trading up with each other.
eminis hit another low last nite @ 1066 ish.
just saying.....
Yes they did.
http://www.cmegroup.com/trading/equity-index/us-index/e-mini-sandp500.html
Up 12%, down 6%.
Bottoms at end of months (Oct 29, for example).
Fundamentals still steadily impoving. Leading economic indicators look like 1983, 1993. Recovery looks V-shaped. Major corps -- MSFT, INTC, AAPL, AMZN, PG, JNJ, etc. are having one of the best Qs ever. And we havent even had a recovery yet.
Despite what you hear on ZH... this is not a recovery you want to fade, except on big moves up.
Stay long the trend.
-BBH
most have higher put/call ratio's than normal...that's WHERE the BIG money is lurking...buying puts CHEAPER...just saying.....
I'm looking for about a week long rally to approx. 1110 and then bombs away. Otherwise we work thru an expanded flat with a high slightly above where we are now.
Either way, any long gains this week will be wiped out in half a day trading session next week.
Good luck everyone.
There are an awful lot of eager sellers of the SPY tonight. Large blocks, a buck or 2 down. Go figure.
nothing market
The little engine that could. Too bad once they reach the top it's a long, steep grade down...and the brakes are looking a bit worn.
1.5% per day is enougn...over 4% for EWZ. Leave a little for the rest of the week. 2/3 retrace of 78 point drop from 1148 top would be about 1125 SPX resistence by Feb. Option Expiration. That will likely be the real test. Yes, a break above 1125 on high volume means 1350 by mid year per GS. I read it on ZH yesterday. That means $ and Treasuries down and oil/gold/techs up big time.
Next leg up will be painful for all the bearish ZH-ers!
But arent they all, arent they all!
See ya wizzing past 1250, then 1450, then 1650.
See you guys in gold in 10 years... more disgruntled than ever!
Pride comes before a fall oh confident one.
Machine Code currently in use;
1180 goto line 1181
1181 WTF=volumex(_)/SP=up then run/goto 1182
1182 anynews=bullshit x greenshoots/volume true=1183
1183 dow=sp=nsdq=xvolume=up/nomatterwhat? if true goto 1180
run
Looks like they got all the stocks loaded up in the sucker buffer ready for another day.