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Anyone Feeling Bearish?
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Anyone Feeling Bearish?

by The MoleMay 21, 2010

I’m about to turn into an evil Halloween pumpkin but wanted to throw out a few charts before I hit the hay. After all, these are exciting times for the bears and I owe it to you guys to keep you in the loop. Plus, I enjoy scaring the heck out of you with the occasional bullish scenario 😉 Well, you’re in luck tonight – the bulls would have to run like hell tomorrow to avert impending doom & gloom. Maybe they’ll pull it off – it’s OPX Friday after all – but I can’t trade fear and hypothesis – which is why I stick with my charts:
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Updated wave count and a few kick ass charts below for anyone donning a secret decoder ring. The rest of you guys will have to wait until tomorrow – sorry. If you are interested in becoming a Gold member then don’t waste time and sign up here. And if you are a Zero subscriber it includes access to all Gold posts, so you actually get double the bang for your buck.
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We continue to follow copper futures as a supporting gauge of what may be next for equities. Well, copper continues to push down indicating a slow down in production – not that I could give a rat’s rectum about fundamentals. But this chart continues to be proven right, so I’ll keep pimping it to you guys. If it ain’t broken – don’t fix it.

EUR/JPY – my new best buddy – and it’s already raiding my mini-fridge and stealing my tools. Damn thing decided to swing up over night – actually, not too surprising as it’s gotten the heck kicked out of it lately. On the 5 min chart it’s ready to roll over just about now (i.e. 1:30am EDT) but on the 30 min chart we could easily push towards 116 or even 118. Word on the street is Japan was buying currency and the Swiss got involved about an hour ago.

However, the ES futures thus far have not been able to mimic the intensity of this retrace. Not to fall prey to recency bias but it seems to me index futures continue to lag behind and I’ll give it only maybe 40-50% that it’ll pop above this afternoon’s close by the morning.

I know you want it – the updated wave count. Not too much has changed, beside the fact that I faded out Soylent Green to statistically low levels. We have some work to do before we hit my target zone. First is to take out th May 6th low in the cash index (no, futures do not count in my book). Then we need to take out the February lows – not too far away, but another hurdle. A breach of that one should accelerate things nicely as hedge fund managers will be running around screaming with their hair on fire. Somewhere in between there is also the 200-day SMA – not that I care about that fucking thing but everyone else seems to.

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Some of you know that don’t I like gold very much – despite its ability to attract hot babes over here in L.A. (I’m all about the bling) trading the futures is a royal pain in the ass. I heavily traded the COMEX contract back in the days until blatant manipulations simply got out of hand a few years ago. Anyway, just look at these gaps in the past few days. I said it last week and I say again today: Don’t be long gold when it goes exponential – actually looking at this chart it didn’t just go exponential – it went parabolic.

I was lucky calling the top, yeah – and I’ll bathe in my glory as long as it takes to shut up the cretins who gave me a hard time over at the Slope last week (last laugh is echoing in the evil lair, pal – you know who you are). Anyway, I promise I’ll be nice – after all it’s Evil Speculator 2.0 and we’re all about banking coin.

Alright, let’s be serious here for a minute – I enjoy shooting the proverbial shit as much as the next megalomaniac. But this needs to be said: It’s not going to be easy, folks. Expect to wake up one day and see a lot of your profits of the prior day or even week wiped away. Maybe it will be news driven – maybe it will just happen, which is what I go by. But you need to have a plan NOW – TODAY. What are you going to do if the market ramps 100 handles against you (on the SPX, not the DOW)? Jumping in/out will just get you killed and chasing the tape after a bad exit. This is a long term game – if you can’t accept that you might as well step away.

I can draw all the squiggles I want on my charts – in the end every single one of us will be surprised by how the market will unfold eventually. It’ll be scary – either way – down or up. Be ready mentally – or you will get thrown out of the saddle.

Alright, now that I have spoken my peace I’m going to catch some zeeezzz 😉

Stay frosty, my beloved stainless steel rats!

Cheers,

Mole


About The Author
The Mole
Mole created Evil Speculator amidst the chaos of the financial crisis in early August of 2008. His vision for Evil Speculator is a refuge of reason, hands-on trading knowledge, and inspiration for traders of all ages and stripes. You can follow him and his nefarious schemes at various social media waterholes below.
  • http://evilspeculator.com molecool

    First one to comment gets to count my razor blades.

  • ArtyomGrand

    He he he, nicely written, he he…

  • http://iberianviews.blogspot.com/ catracho

    short eurusd looking at 4 hr chart

  • ArtyomGrand

    I think me was first! Brin' me the blades!

  • Molave Street Dwende

    I'm puzzled by this dissonance between your self-congratulations on your gold call, and your statement that “This is a long term game”. So your gold swing-trade call was correct. But by yelling “GET OUT!”, I believe you are encouraging lester-type behaviour.

    The trend is where the money is made. In my view, the intermediate trend on gold is long, and I'm trading that way. I've held since 113 (in this recent run), and I'm fine with seeing my profits from 120 wane. I'm just waiting for my next entry signal, and I'll pyramid onto my position. Ok, the trend may collapse and I'll stop out. But that's how it works – I only expect a third of my trades to be profitable.

  • equity_momo

    Gold relative to the S+P looks as good a trade as ever. Thats a perfectly fine delta neutral pairs trade that will keep on giving.

  • rangefinder
  • momac

    Good morning!! Thanks for the update Mole, Maybe we'll clear the 5/6 hurdle today. :-)

  • yudhisthira

    On duty today. Looking for a fifth wave bottom pick?
    Or is this all a series of ones and two? Hanging tight.
    Psychological talk is right on. Got to keep our sanity no matter what happens.

  • tradingmom

    Mole — awesome charts. Thanks for everything. I am a zero convert for life. Prepare to provide this service for at least the next 40 years.

  • momac

    disqus is acting up for me, is it working for everyone else

  • n2thezonez

    Your post is well in-line with my thoughts. The chart I'm looking at for a potential reversal or key failure is:

    http://www.screencast.com/users/n2thezonez/fold

  • http://channelsandpatterns.blogspot.com/ springheel_jack

    Yes, that's the one.

    If we turn soon, that has to be the most likely place.

  • ArtyomGrand

    Works alright, if not for you, just keep hitting Refresh button until it straightens out

  • ds2

    Works OK here but not on another site I tried

  • equity_momo

    Kinda scary – i get the feeling everyones expecting a powerful short squeeze soon. And i just dont think there are enough shorts compared to the amount of trapped longs to make it happen. Should know today if we are in the midst of an Oct 2008 meltdown or not.

  • Tooncez

    Not that I have any clue what I am doing, but it looks like we tagged my mysterious line from last october at the open, so I am expecting this to be a monster volume day.

  • BobbyLow

    More Napalm being dropped on the market this morning.

    Ain't this typical? The market squeezes the shorts until there is nothing left to be squeezed and now it Fcks over the Longs.

    Who knows though maybe we get a DCB today. I'm sitting on my hands until at least 10:30.

  • Triple Top

    Naturally, it is OPX

  • http://iberianviews.blogspot.com/ catracho

    I guess 1050 S&P won't go in one session? or will it? Strong support there or actually 1045 seems to be key..
    http://www.screencast.com/t/ZDE5ZDZiZTct

  • Bob the Horse

    Hope not, I just loaded up on my final throw of the dice there!

  • EvilTrader

    This is not 2008.
    I dont see the same level of uncertainty of 2008, a time when the world was entering recession and wall street was broke.

    Now there is recovery, intervention and paper printing like theres no tomorrow.

  • Bob the Horse

    I agree – a number of factors are saying we are at max stress (ex-2008) and others are saying we are at the same levels of stress. Don;t see it myself. Hence 100% long now. But I have been crushed the last 3 days.

  • Tooncez

    And there inlies my stupidity. I should have said to myself yesterday: Oh OPEX is usually a high volume day, why don't I match that up with the very-close-and-mole-identified-pricepoint I am expecting on “some high volume day”?

  • equity_momo

    I personally feel more uncertain than i did in 2008. Back then if i wanted safety i went to cash. Now i cant decide if i goto cash or PMs.

  • ds2

    Great stuff. Really glad you started your own blog. I've been looking at your charts for awhile. THANKS!!

  • jigdaddy

    day traders must be loving this volatility!

  • yudhisthira

    Great gap fill. Completed fifth wave on some level.

  • raised_by_wolves

    Check out my $NDX chart. I will reshort if/when a candle moves below this line:

    http://content.screencast.com/users/raised_by_w

  • http://oahutrading.blogspot.com/ steveo77

    None of the problems were fixed, money was just thrown to the wolves. The structural problems are all still there in spades and worse.

  • shortcover

    nice opening bounce…

  • BobbyLow

    Am I reading this correct that we have 60% Average Daily Volume on SPY in the first 40 Minutes?

  • Bob the Horse

    This squeeze could go a very long way, poss 1180.

    What has been happening is that a number of vol desks on the street got short vol in the early part of this year. Rationale was that demise of stuctured products removed the natural buyer of vol in the mkt and hence you had to get short vol.

    The Euro situation pushed vol higher and even though we got the bailout, there has been an all-time short squeeze on puts in the mkt. Skew has hit all-time highs and obv the mkt has been taken lwoer due to the panic put buying. My sources tell me that the last of the liquidation was done yday.

    So my advice is, be very careful about shorting this bounce. Impl vol back to 30 in Europe would mean 2800, 10% away from here. Would still not make it a bull market – I would have a go on the short side there with a tight stop, turn it around if it goes through as we are off to 3300/1300.

  • Wave_Surfer

    It looks like the market is clearing out reasons that would slow its move down.
    1) It adds a bounce so it can move lower.
    2) Looking at a 5m chart we moved from heavily oversold to overbought even though we are slightly negative for the day.
    3) We filled the starting gap, so there is no pressure to move back up to 'fill the gap' since it has been filled.

  • Long_John_Silver

    Market taken lower due to panic put-buying? Wild.

    Or are the computers just hungry? I see the S&P is red right now …

  • Bob the Horse

    It's just an old-fashioned short squeeze, it just so happens that the instrument was puts.

  • amokta

    “Bring it on, sucker” (Mr T from A team?)
    Ftse still down, although bringing up the rear quite nicely, rbs rebounding too.

  • Bob the Horse

    Would also flag that a VIX close below 40 would create a key day reversal. Feel free to ignore me – I have been long and wrong the last 3 days but all I see right now is upside pressure.

  • BobbyLow

    Sometimes Zero Lite is more helpful in influencing the moves that I don't make as opposed to the ones that I make.

    Case in point is that once I decided to let the first hour go by, ZL continuously showed that I wasn't missing anything.

    I might still make a long trade today but I need a little higher probability of success than a roll of the dice. Or a gut feeling that we might get a bounce.

  • http://iberianviews.blogspot.com/ catracho

    Yes you could be right…over a few weeks view..BUT shorter term feels like another final move down for this move to shake out the weaker” dip buyers”..
    could be wrong and we rally straight up from here…anyway only very small short now..but not sure I would want to go long just yet!

  • Rayden

    Bob – interesting. I kinda thought from the action in options that someone(s) was heavily short vol going into this, now I know who 😉 It's always fun to trade against the big boys.

    “Skew has hit all-time highs” – um, no it hasn't? It's actually not even high historically speaking. Skew was higher in 2007 believe it or not. Of course vol was rather low back then, but skew was higher.

    “the mkt has been taken lwoer due to the panic put buying” – I've ran the numbers and I don't believe that is possible. The money in options is not enough to move the market substantially. Correct me if I'm wrong. Also I'm not seeing panic put buying, cautious selling is more how I would describe it.

  • WTFed

    Mole sleeping in again? What a slacker.

  • http://www.mylifemytrade.com MyLifeMyTrade

    Check out the front page of today's NY times :-)

    http://www.nytimes.com/pages/pageone/scannat/in

    A trader on NYSE floor praying… this is what a major bottom is made of… This could well be the IT bottom.

  • http://www.mylifemytrade.com MyLifeMyTrade

    Bob agree – I have been flat – too fast action for me.. Agree with you that we could see 1180 sometime.

  • http://www.mylifemytrade.com MyLifeMyTrade

    Yes.. the average daily volume (if you leave out the last 20 days or so).

  • http://www.mylifemytrade.com MyLifeMyTrade

    we had 3 failed bounces – one to 1147, one to 1122, one yesterday to 1092.. likely it sticks this time..and when it does.. it will take out the high of the first failed bounce IMO.

  • Bob the Horse

    Not sure what skew you are looking at but 3m 110-90 skew is higher than it got to in 2007, now 13.5% vs 12% then.

    On your options numbers – you won't have the otc trades to work off. The options mkt is huge and does indeed wag the dog on a regular basis.

  • Tooncez

    How do you read that off of ZL (for the noob's)?

  • raised_by_wolves

    For those proficient at wave counting (I'm not), is there any chance that copper has bottomed leading to a significant bounce if not new highs? Something like this:

    http://content.screencast.com/users/raised_by_w

  • roscoe_casita

    Remember the surprise will be to the down side.

    All the put writers who can't deliver will be buying back those puts by the end of the day.

    The “short squeeze” will be for the Put writers

  • jigdaddy

    i have a 1060 EOD target.

  • raised_by_wolves

    Yeah, I'm actually going to take a small long position (blasphemy, I know).

  • roscoe_casita

    I've got /DX in a falling bullish wedge, 3-4h long now, usd/jpy, eur/usd, eur/jpy all in triangles about 3-4 hours long,

    can be ripe for a break down as we fall out of them. (or up on /dx)

  • roscoe_casita

    Whoah, nothing like 10 point moves to the upside in 10 minutes, at this rate, we'll retake the all time highs by the end of the day.. smells like a rip to me. I'm showing MACD Divergences 400T (31,53,89, EMA),

    High on lower momentum

  • BobbyLow

    OK just took a small Long Stock Position in IWM and SPY for the day

  • EvilTrader

    breaking to the upside…if continues, possible spy target 109.8

  • roscoe_casita

    1078 /es will beak back down to 1072

  • http://evilspeculator.com molecool

    Important difference between Lester and yours truly: I'm sometimes right 😉

  • raised_by_wolves

    Time to revive soylent green?

    Bob's Horse ass may be saved.

    Call me crazy, but I'm leaning toward scenario two playing out for ($SPX*(SLV/GLD)).

    http://content.screencast.com/users/raised_by_w

  • http://evilspeculator.com molecool

    I'm getting sick of those gaps down followed by a systematic buy back attempt, followed by a fail. Jeeezzz – how many suckers are out there?

    Alright, I'm kidding a little – not convinced they won't succeed today as the negative Zero signal is diminishing.

  • http://evilspeculator.com molecool

    We shall see – would be a great way to screw the hobby bears.

  • raised_by_wolves

    The important thing is, I won't get screwed :-)

  • bshah

    2 questions if you folks don't mind.
    1. Is Ford good for going long..? It touched 200 MA and moved up.. RSI/Osc moving up. I had it from 10.95 but got out at 11.22. Don't know shall I go back ..?
    2. I have 4 SPY JUL 108 calls. Avg.. 5.68 now.. I am thinking of closing them ? Though on other hand want to keep it.. going to next week.. I am not sure, why they are not moving fast and will weekend eat up the profit ?
    Thanks,

  • Bob the Horse

    Now officially an outside day on the VIX, close will be important but trend suggests mkt is going to go up.

    There is a long way to go before bulls get back in control though. Even as a counter-trend trade, long looks right now (unlike the last few days!).

    I actually made money today after being in fairly deep doo-doo around the US open. Often a good sign when the P&L finishes on HOD – generally you get more buying to follow.

  • Bob the Horse

    the rubbish thing about calls in squeezes like this is that you get raped by the vega almost as much as you make on the delta. Better to be long cash, not options in my view.

  • shortcover

    looks like this thing is juuusst about out of gas…sweet ride tho.

  • bshah

    Thank you Bob and all others.. I do value your opinions & suggestions.. I sold the calls with some profit.. not big, but good enough. then what i was in the morning..
    Thanks mole & others..
    Good luck

  • Graphite

    The April high was almost equal to the 2008 commodity bubble top, and stockpiles are sky high. I just don't see it, but hey, maybe 50 million Chinese pig farmers CAN'T be wrong.

  • BobbyLow

    Jeez, I think I finally found my MoJo after being missing in action for way too many months. :)

  • EvilTrader

    lot of action still to happen today…but spx is on the way to put a bullish engulfing candle.

    Would be nice for bulls.

  • Rayden

    Well, one possibility here is a small 4th wave, should be done at ES 1088-1099. We shall see.

  • roscoe_casita

    Day's trendline to watch: http://goo.gl/dS7H

    A down, bounce, break, retest = lead up to a breakdown.

    Watch that trendline if your long!

  • raised_by_wolves

    /HG's really important line:

    http://content.screencast.com/users/raised_by_w

    Chop chop followed by pop or drop:

    http://content.screencast.com/users/raised_by_w

  • http://www.mylifemytrade.com MyLifeMyTrade

    Since I have been touting the long side for so many days.. hard for me to be much credible.. But the short side fun is over… How high we go not sure… There is a decent chance that we may have put in an IT bottom, leading to new highs… Either way the next shorting opportunity will take some time to show up.

  • http://www.mylifemytrade.com MyLifeMyTrade

    A wise trader mentioned to me that “time kills the bears, price kills the bulls”… bears trying to catch the top get killed if they are impatient because tops take TIME to form.. even though the eventual price movement may not be a lot… but the actual top may come after a LONG TIME… that is why Mole's strategy of long term puts is the BEST strategy ever.

    Bulls try to catch falling knife and get killed.. Think someone who was a day earlier in catching knife must have caught it at 1099 a day ago.. guess what a little over a day later, we were 50 points below.. in terms of time.. it was just over a day later.. but in terms of price we were 50 points below… so that is why price kills the bulls.

  • http://www.mylifemytrade.com MyLifeMyTrade

    For those in denial about a tradeable bottom worth 70-80 points put in… look at ZL chart.. see how today's bounce is different from the bounce on last two days.

    On the last two days.. we failed the vwap test….. today we haven't… in fact we are pushing the vwap+2 envelope even higher.

  • http://www.mylifemytrade.com MyLifeMyTrade

    FAZ and DRV may be looking at a 20% hair cut today.

  • EvilTrader

    yeah.

    Add to that a close around 200 day moving average, and bears gonna be under a lot of short term pressure.

  • Bob the Horse

    Q: Vix putting in a key reversal day – if ESM0 joins in, where will it close?

  • Tooncez

    Ah, because the divergence was yesterday…

  • roscoe_casita

    Reversal time? Vix is flat lining… Bulls did not retake the 200 day slow ma, bear time, 1st trendline bounce, watch 1080 now, break below that breaks the trendline for the day.

    looks like retail just piled in with $UVOL @ 11, this could get very ugly very fast. EUR/JPY breaking down out of triangle

  • Rayden

    I'm looking at 100-50 skew 6 and 12 months out, more relevant to what I trade lol. Incidentally high 110-90 skew may just reflect public buying of bear fences, that is cautious but not quite a panic.

    OTC – I guess you're right about that. Is there any way to get visibility into that market, or is it basically all secret?

  • http://tacharts101.blogspot.com j0sh1ngU
  • raised_by_wolves
  • BobbyLow

    Hey Bob, I felt you had a good chance on being right this morning but I had to wait for my own confirmation to come before nibbling a little on the long side. Once confirmed, I picked up a few shares.

    I originally was going to make this a Day Trade but this new long IWM and SPY Stock is balancing out my Bear Put Spreads on both so I might keep both new stock positions for a little while if this bounce holds. Otherwise they'll be on a very short leash.

    But I'm also thinking if I keep the stock, I might sell some June Calls against them.

    This entire market is loaded with disease and I hate the thought of messing around with it without wearing protection. LOL

  • roscoe_casita

    Hands are getting shaky,, $UVOL is dropping, Still pitiful shorts left, $Trin @ .54

  • yudhisthira

    Whoops, following copper and eur/jpy to downside at least near term
    Reloaded TZA, perhaps early on a day like this.

  • yudhisthira

    Even on a bear count, there should be more short term upside on spx.
    3 min chart.
    http://screencast.com/t/YmMxZjRiY

  • Rayden

    Bobby – “I keep the stock, I might sell some June Calls against them” – unfortunately, that makes you the proud owner of synthetic *naked* June puts. if that is what you want, ok. If not, think about a different strategy. I keep harshing on covered call writers about that, but most don't pay any attention 😉

    I think you may want to sell calls and buy puts, both about equally priced and with equal delta (aka “collar” or “fence”). Good for capturing modest upside but being protected against catastrophic downside. Problem is, those are not priced well now (ie: puts too expensive, calls too cheap), since it looks like everyone is buying them.

    Also, yout put spreads while very nice won't protect you except against a moderate decline or a small long underlying position. Try and model how the combined position fares in a 50% drop, you'll see what I mean.

  • raised_by_wolves

    Try a wave count on my ($SPX*(SLV/GLD)) chart. Does it look more bearish than $SPX?

    http://content.screencast.com/users/raised_by_w

  • raised_by_wolves

    Copper has been uptrending for 24+ hours. I'll be watching to see if (1) copper makes new highs for this period or (2) if the uptrend becomes damaged.

    http://content.screencast.com/users/raised_by_w

  • yudhisthira

    Large gap there on the 20th. Third of third in some measure.
    Question is did we have a quick fifth down today? How many 4-5's to go?
    I'll have to figure out how to use profit charts. I assume that is the chart.

  • yudhisthira

    I'll sell more pennies if it will help break trendline.

  • raised_by_wolves

    Speaking of pennies, I bought SLV May 17 puts for two pennies. I anticipate that they'll expire worthless, but if they don't . . . :-)

  • yudhisthira

    Did Mole lose power?
    Arizona cut electricity to L.A. already?

  • raised_by_wolves

    In TOS prophet, type this with parentheses:

    ($SPX*(SLV/GLD))

  • tooshort

    fyi there is a new post…

  • nyse

    These are great points. Planting some long term “seeds” in line with what I actually believe, and then trading to manage my book and take advantage of short term movements in the interim seems to be working a bit better than chasing the tape all the time, or simply hoping my thesis will play out before I get insolvent.

  • raised_by_wolves

    Maybe Hamster can run the wheel to power Mole's Evil Lair? The important thing is that Mole's internet doesn't go out.

    I'm at my parents apartment. We lost internet connectivity the last couple days. Finally got fixed. That's mostly why I was MIA. Also, I passed out on the street corner the other day.

  • BobbyLow

    IMO, the first hour of any trading day can be a crap shot and especially on Friday of Op Ex.

    Another thing is unless you are going in for a quick scalp in size it is tough to make any money on a 2 or 3 point move on the SPX which translates into 20 or 30 cents on SPY and even less on SPY options.

    So I at least waited until the ZL Signal Line was solidly above Zero before I made my move. Even at that point it was could have backfired very easily but I just took the shot.

    I'm still learning ZL myself but after a while you might develop your own feel for it along with Mole's Comments etc.

  • raised_by_wolves

    ¤ø„¸¸„ø¤º°¨¤ø„¸¸„ø¤º°¨
    ¨°º¤ø„¸ N E W „ø¤º°¨
    ¸„ø¤º°¨ P O S T “°º¤ø„¸
    ¸„ø¤º°¨¤ø„¸¸„ø¤º°º¤ø„¸

  • http://evilspeculator.com molecool

    Yeah, for like 30 minutes now – you guys got to reload the page once in a while… or check your email … or check your skies for flares….

  • http://evilspeculator.com molecool

    I do have backup power – it lasted until two minutes before they turned it back on. Grrrrr…

  • BobbyLow

    Thanks for your reply. I have a tendency to get a little too slick sometimes. Also, I initially said that I was going to make this a day trade and here I go screwing around with my thought process before I even gave my day trade a decent chance to work out. So I'm glad you picked up on what could have been not so good of a move.

    Back around 2005, 2006, I made some serious money going long high beta – high dividend paying stocks by buying the stock just before it went x-dividend and then selling front month calls against the position. It was a successful trade if the stock got called away. So there are cases where CC's do work out. Of course most of these same stocks have reduced the shit out of their dividend so that strategy is dead at least for me.

    So of course you are right and I'll more than likely keep the trade as originally planned as a day trade. OTOH, I could decide to stay slightly Delta Positive as opposed to slightly Delta Negative and just hold on to the stock. If it looks like we are going to close weak – then the stock is definitely gone. If we close real strong – then I'll have a decision to make.

    Thanks again

  • http://iberianviews.blogspot.com/ catracho

    DAX 2hr chart looks like we are in a wave 4..one more wave down to come..before proper rally? Does that tie in with any other counts?

  • Tooncez

    Yesterdays volume exceeded todays volume, and so if you draw a line from the flash crash to yesterdays low you get… The exact location of todays silly closing bounce… and a new mysterious line which has about a ~.15/day slope…

  • anoopsan

    Dow jones breakes out of an inverted head and shoulders pattern

    http://niftychartsandpatterns.blogspot.com

    thank you

  • anoopsan

    Dow jones has formed a broadening formation in the weekly chart. I am posting the link here.

    niftychartsandpatterns.blogspot.com/2010/05/dow-jones-weekly-chart-shows-broadening.html

    thank you