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Post by Cosmic on Aug 25, 2010 20:11:12 GMT -5
Baby bull. However, we may spike higher and then pull back. Most likely a firework, so then we need to see if it holds.
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Post by demanuel2001 on Aug 25, 2010 20:14:03 GMT -5
We're back on the cowpath - bull!
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Post by Clinton SPX on Aug 25, 2010 20:18:56 GMT -5
Bear, I think there still needs to be a meaty flush before the reversal. opening -61 today just didnt seem like it. RSI didnt hit 30 either. Vix didnt really print a reversal candle either.
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Post by timber on Aug 25, 2010 20:34:03 GMT -5
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Post by clemsontygr on Aug 25, 2010 20:44:14 GMT -5
I'm with cosmo....
Gap up that sells off.... one more shake of the tree to shake out the weak long hands...
I think 1037 is the bottom print for this bearr move ... we'll see...
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Post by im2buzzi on Aug 25, 2010 20:51:06 GMT -5
Baby Bear...just thinking we might make a lower low this time down here.
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Post by Rich on Aug 25, 2010 20:55:35 GMT -5
Haven't looked at the futures yet, but I think bull is the call for tomorrow.
How short lived it is is anybody's guess.
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Post by blueskies on Aug 25, 2010 20:58:19 GMT -5
We are still in the down channel, we have a bounce to the upper trend line. We did not re-test the low today, which was interesting. The candle does not appear to be a bottoming candle.
That said. "They" can either drift up futures tonight for a gap and crap tomorrow, (which would take care of the close by upper gap), or we fill it at the open then drop. or.... right now we are forming a tower formation on ES which is bearish. if it holds then we will just drop from the get go.
i say we revisit the low so I'm saying bear.
blue
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Post by Rich on Aug 25, 2010 21:08:57 GMT -5
SP500 S & P 500 Index Daily Commentary
Our system posted a BUY-IF today. The previous SELL recommendation was issued on 08.20.2010 (5) days ago, when the index value was 1,075.6. Since then SP500 has fallen -1.89% .
A bullish pattern has developed and a BUY-IF alert is issued today. The task is now to confirm the validity of this bullish pattern. We will guide you through this process but the prime star of this game is nobody but you. First you must do your homework. A good starting point may be to keep an eye on after-hours and futures trading to get preliminary hints about the direction of the market. Related news, events, economic data, and the world stock markets should also be closely followed prior to confirmation session.
There are three possible cases of confirmation. You have to follow the next session carefully to check if these cases will hold or not:
The market opens with an upward gap, signaling a bullish sentiment in the first case. Your benchmark will be the opening price. If the prices stay over the benchmark, go long. Any white candlestick with an upward gap is a valid confirmation criterion.
In the second case, the market opens at a level, equal to or below the previous day’s close. The benchmark is that closing price. If prices during the session stay over the benchmark, go long. Any white candlestick closing above the previous day’s close is the second confirmation criterion.
If, however, in both cases, the prices during the session start coming below the benchmark, avoid buying. Sell if you feel a definite tendency in prices to close the day below the benchmark.
The third case of confirmation is rarely observed. The market opens with a big downward gap suggesting a very bearish day, and the day ends with a long white candlestick, but still closing below the previous day’s close. However, such a day satisfies the third confirmation criterion and in this case the closing price of the long white candlestick will be taken as the price of confirmation.
If one of the three confirmation criteria is not fulfilled, or in case of a black candlestick or a doji on the confirmation day, the BUY-IF alert remains valid, however without confirmation and the three confirmation criteria are then sought in the following day. The only exception is the long black candlestick. Any long black candlestick following a BUY-IF alert makes it (the signal) void and invalid.
We do not suggest any new short positions given the bullish alert. The short sellers should consider covering their positions if the market confirms the BUY-IF signal. Otherwise, existing short positions should be carried.
Data provided by: End of Day Data BUY-IF 1,055.3 +3.4600 +0.33% Candlestick Analysis Today’s Candlestick Patterns: White Candlestick Bullish Harami Today a White Candlestick was formed. This represents normal buying pressure. For more about this candlestick click here.
The last two candlesticks formed a Bullish Harami Pattern . This is a bullish reversal pattern that marks a potential change in trend. However, its reliability is low and it definitely requires confirmation. For more about this pattern click here.
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Post by clearwaters on Aug 25, 2010 21:13:05 GMT -5
Thanks for the info, Rich! I exalted you to 100!
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Post by Rich on Aug 25, 2010 21:16:16 GMT -5
thanks, much! I thought Bros was hitting me with the karma stick
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Post by deadmoney95 on Aug 25, 2010 21:30:32 GMT -5
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Post by puurfectten on Aug 25, 2010 21:31:19 GMT -5
i threw ya one ..bear..might get a little pop..but not feelin it..one more good push down..then a rally to maybe 1060somethin..then we see maybe 950.. 8-)all my stuff is still nosedivin..
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Post by Rothschild on Aug 25, 2010 21:33:40 GMT -5
Baby bull for me. We can easily tap 1075s or or if theres enough juice 1098s before the downtrend resumes. Tlt's reversal candle and an overbought dollar and a Euro bounce should do the trick.
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Post by brosin on Aug 25, 2010 21:44:40 GMT -5
Bear, I think there still needs to be a meaty flush before the reversal. opening -61 today just didnt seem like it. RSI didnt hit 30 either. Vix didnt really print a reversal candle either. My brain is with you Clinton - today didn't look or feel like a bottom volume-wise. Yesterday sure did, but today, not so much - and we went lower today than yesterday. Somehow, we haven't even closed under 1050... My heart is against you - sentiment wise, I have started loading up on supplies for the road trip towards Bear Jamboree if I decide to go last minute. I don't have a ticket yet though, and can't decide if I will be spending the money on the trip or not. I'll have to wait until it gets closer. So that's as bottomy as my own personal sentiment has been in 12 months. Never in any other corrections was I even considering the trend had changed. So maybe we did hit bottom - I kind of doubt it overall, but I can hope. Baby bull
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tfkness
Commodities Trader
Posts: 107
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Post by tfkness on Aug 25, 2010 23:25:13 GMT -5
Bear -
so I ask you... Durable goods doesn't hit the mark AND new housing dumps 12%.... and we close positive? Sounds like black boxes pushing up the ante on a low trading day... preparing the ambush -
I don't like it...
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sowolf
Broker/Dealer
Posts: 439
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Post by sowolf on Aug 25, 2010 23:53:01 GMT -5
Bear... I think the unemployment report will disappoint again.
Good luck everyone,
sowolf-
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Post by torrentio1 on Aug 25, 2010 23:59:51 GMT -5
BULL
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Post by benvestor on Aug 26, 2010 0:08:49 GMT -5
Jobless Claims Bear
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Post by commodityypro on Aug 26, 2010 0:53:35 GMT -5
I think investors are looking past this jobs report already to Bernanke's talk on Friday. Not much movement tomorrow, but I think investors see the writing on the wall of much needed additional QE, which will mean melt up.
Baby Bull tomorrow
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Post by benvestor on Aug 26, 2010 1:08:02 GMT -5
bernake V. GDP downgrade .. friday should indeed be interesting
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Post by ask2lern on Aug 26, 2010 6:09:16 GMT -5
ummmmmmmmmm..............................no frigging idea...........damm polls...............ok fine baby bear..................GLTA
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Post by Clinton SPX on Aug 26, 2010 15:01:28 GMT -5
Da Bears, 8 winners
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