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SPY Breaks 200 DMA As ES Set To Test Support; Stocks Drop On Volume Pick Up
A sudden drop in the EUR takes stocks down. No immediate catalyst, and the Schapiro-Gensler cabal sure hasn't said anything to make the market nervous. Which means it is a charting astrology and technicals: the 200 DMA in the SPY has been breached, leading to a 5th consecutive onslaught at the DMA in the much more critical ES. Should this break, watch out below.
ES: Above 200 DMA
SPY: below 200 DMA
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Now that OpEx games are done, the market can follow its rational breakdown.
Ya, right.
Nic nailed it this morning...add to shorts under 1103.
Am doing as I type.
that SHITTY bank is taking so long to process my loan ......i was just waiting for the right shoulder(time).....
but have u seen this ....not only is the present rally forming a H&S pattern since Feb....but the INDEXes have been forming a MASSIVE H&S since 1999...
2001 was the Left shoulder , 2007 was the HEAD ...and now 2010 is looking like the right Shoulder.....
ES? - Someone please educate me.
S&P minis
You're beyond education, you still haven't changed your icon from the picture you kept in your pillowcase back in the day.
Two questions:
1. By "back in the day" do you mean - Presently?
2. Did your husband pick yours?
Please advise.
jdrose, seconded. frankly, reminds me of p hilton, b spears, and all the 14-year-old nitwits who imitated them for however many months it was. must seem daring & witty all right...to a 14-year-old.
Perhaps you and jdrose would like to engage in carpet munching?
s&p 500 futures
I gotta admit, I made a killing on the ES short at 112 this morning, and I tightened up my stop just in case Benny tries to goose it before close.
Think Benny is opening his trap sometime this week so yeah I am sure the bottom aint in since he will be saying rates will remain low for eternity.
Plus he has to let Timmy be able to pawn those long term Treasuries off this week. I haven't played much in this market at all over the past year, but I been smelling the dumps lately just before T auctions.
Bingo!
Gold hit hard, and stocks flat (or marginally lower)... Comex gold futures expire Thursday, and T Bill auctions this week... new month, same shit!
I rode all the way down to 107.50. Then shorted again at 1108.50. It was a good day.
Left my short from 112 open, moved my stop down to 1095. I'm think gap down in the A.M. bigtime on futures.
At the worst 17 pts. Nice trade!
Break of ES Neckline at 1100 should lead to 1070 as by measurement of top. 1100 - 1130.
This is so anti-climatic.
Stocks are such a joke.
I am tempted to close my shorts and go long here for the last hour. I do not feel that this first test will be the straw that breaks the camels back. Ben is probably running back to his trading desk from the vending machine as we speak.
Look for the 3:30 pm to close pump up by the puppet masters.
At this point, I couldn't give a shit anymore if Benny and Timmy pump the market.
I just want to pump Mandy. Mmmmm, Mandy.
Well the Sun is square Jupiter/Pluto. If one was to chart astrology.
and Uranus. not kiddinig.
There goes swifty.... silly shorts, Puts are for dummies.
Duplicate
Nothing feels like justice such as a 90 degree downward on the markets.
AAPL, 272.40 (or is it 270, i dunno anymore)... That's the only stock and the only level that matters. It's like Steve is buying for everything he's got cause the sucker just won't die, but when it does - bye bye techs.
Classsic shakeout, keep buying them dips!
You're going to get a lot of attention with that comment.
Leo,
don't just buy stocks on the dips. You should buy calls, and sell puts. Better yet make a contract with GS so you can leverage your bet 20X and retire.
Yes, we will all follow you over the cliff..
More real-estate agent like talk - never a "bad" day to buy..
Today the New York Stock Exchange ($NYA) had a bearish cross of the 50 day moving average below a flat 200 day moving average.
http://goldversuspaper.blogspot.com/2010/06/first-major-us-index-to-trig...