The premarket action is pointing up. It will probably open where its broke down yesterday in the afternoon. It seems like 106.50 is a very resistance for SPY.
The Phillies made a mistake on Cliff Lee not pitching Game 5. It is like giving one free game to the Yankees. If Cliff Lee pitches in game 5, he will outduel C.C again. Then the momentum will shift to the Phillies and the team will win game 6 too. Remember this, the Phillies traded for Cliff Lee to win the World Series. This is exactly what the Yankees did for C.C to win the World Series.
Here is the game plan. There is a morning gap from today.
1. If SPY failed to break above 106.5, it will go back down to close the morning gap. 2. If SPY breaks above 106.5 and closes above it, it could go back up to the last target at 108. Then it eventually will fall back down to close this morning gap.
Right now the momentum favors the bulls for short term for retracement back up.
JDT, be careful with the dollar. The media wants you to think that the dollar is correlate with the market. Eventually the dollar will do its thing and the market will do its thing.
gcl, that very well may be true regarding the overall market, but imo, oil does not have a chance in hell of going up if dollar strengthens. the dollar weakness is the number one reason oil is trading hugely above what market fundamentals indicate.
what i thought I saw and thought I liked on UUP was that it closed with a small tail on daily candlestick, right at the 20 dma with large volume. sold half my DTO and will see if it can hold the lows.
just read that mark faber (dr. doom) has a short term call for a 10+% bounce in dollar. he is long term bearish on dollar though. hmm? sounds like good company to me:) c'mon U.S. peso (i mean dollar), give me a little bounce you pos
SPY broke intraday uptrend line on 5 min. and 15 min (for now, anyway). hurry and buy before tomorrows number, you would not want to miss out on any upside:) lol
not sure about close today, but the dollar is flat today. so I think oil still tanks if dollar rallies. any ideas for tomorrow. i am going to miss tomorrow due to traveling
Congrats to the Yankees fans last night.
ReplyDeleteThe market will try to close the morning gap.
Great run this season by the Phils. I would not have started Pedro. Not at the end of the season. Move him to middle relief.
ReplyDeletealkhoty
The Phillies made a mistake on Cliff Lee not pitching Game 5. It is like giving one free game to the Yankees. If Cliff Lee pitches in game 5, he will outduel C.C again. Then the momentum will shift to the Phillies and the team will win game 6 too. Remember this, the Phillies traded for Cliff Lee to win the World Series. This is exactly what the Yankees did for C.C to win the World Series.
ReplyDeleteHere is the game plan. There is a morning gap from today.
ReplyDelete1. If SPY failed to break above 106.5, it will go back down to close the morning gap.
2. If SPY breaks above 106.5 and closes above it, it could go back up to the last target at 108. Then it eventually will fall back down to close this morning gap.
Right now the momentum favors the bulls for short term for retracement back up.
I am short oil via DTO and long SRS. watching UUP closely. i think yesterday was a short term bottom on dollar
ReplyDeleteJDT, be careful with the dollar. The media wants you to think that the dollar is correlate with the market. Eventually the dollar will do its thing and the market will do its thing.
ReplyDeletegcl, that very well may be true regarding the overall market, but imo, oil does not have a chance in hell of going up if dollar strengthens. the dollar weakness is the number one reason oil is trading hugely above what market fundamentals indicate.
ReplyDeleteJDT, those UUP calls were sold, not bot.....also the wicks are short this morning.
ReplyDeleteI don't think the morning gap closes today fellas. Get long or get screwed.
JDT, when you see massive UUP 23 calls transaction yesterday, it is both buying and selling. When someone buys, then it must have a seller.
ReplyDeleteIt is either the sellers are selling at the bid from the buyers or the buyers are buying at the asks from the sellers.
Ok, the SPY had hit the 2nd target of 106.5 just now.
ReplyDeletewell, so far i read that UUP options thing wrong. UUP hitting lows and market flying. I am gonna try to short SnP here with tight stop
ReplyDeletewhat i thought I saw and thought I liked on UUP was that it closed with a small tail on daily candlestick, right at the 20 dma with large volume. sold half my DTO and will see if it can hold the lows.
ReplyDeletedamn I knew closing the gap EOD yesterday was good reason to go long.. didn't think it would have been this good of a reason to go long though ;)
ReplyDeleteUPRO from $125 to $131.xx.. nice..
i'm still with gcl.. looking for intraday spike sometime soon to 108-108.50 and then reverse back down. (unless we breakout)
prousk
JDT, don't short (IMHO), we are going to double top to 1105 by next Tuesday and lose it all prior to options expiration.
ReplyDeletejust read that mark faber (dr. doom) has a short term call for a 10+% bounce in dollar. he is long term bearish on dollar though. hmm? sounds like good company to me:) c'mon U.S. peso (i mean dollar), give me a little bounce you pos
ReplyDeletematt, thanks for the heads up
SPY volume -23% and up big. I am selling now. As the smart volume comes in we go down again.
ReplyDeleteToday's SPY high 106.67 is 50% retracement of recent high/low 110.30/103.08
ReplyDeleteI was looking for 106.5 on SPY and 43 on SPXU. no guarantees, but worth a shot for decent entry point
ReplyDeleteI exited all my positions.
ReplyDeleteHere we go, one more pop.
ReplyDeleteUUP is halted.
ReplyDeletewhat?
ReplyDeleteNo trade in UUP for morethan 30 minutes.
ReplyDeleteI saw they're issuing more shs.
ReplyDeletegonna give SPXU one more try here.
ReplyDeleteUUP is back up and firing.
ReplyDeletelooks like the f'd up UUP for an indicator today.
ReplyDeleteSPY broke intraday uptrend line on 5 min. and 15 min (for now, anyway). hurry and buy before tomorrows number, you would not want to miss out on any upside:) lol
ReplyDeletewhat's up with UUP? issueing more shares? why would it go up?
ReplyDeleteHey, what do you know?? UUP at 22.95. somebody knew something. wtf?? long DTO
ReplyDeletewell, out of DTO. still long SPXU.
ReplyDeleteumm! out of SPXU.
ReplyDeleteI have been saying all along. Do not correlate the dollar to the market. Both of them will do its own thing.
ReplyDeleteAny guesses? Will SPY closes above or below 106.50 today?
ReplyDeletenot sure about close today, but the dollar is flat today. so I think oil still tanks if dollar rallies. any ideas for tomorrow. i am going to miss tomorrow due to traveling
ReplyDeleteWill DOW close over 10k today?
ReplyDeletehumsquis
well, for being a super bear, I have made it through today relatively unscathed. I hope I do not miss a big down day tomorrow!!!
ReplyDeleteWe probably close at 106
ReplyDeleteI will say this. if I were a big trader, no way in hell I would hold my profits from recent rally into tomorrows number. but that is just me.
ReplyDeletemishripi
I am still on the sideline. I am very curious where will this market be heading.
ReplyDeletewtf? shooting at fort hood in TX?
ReplyDeletethest
The SPY had hit my first two targets at 105 and 106.5. Is my final target, 108, hit in the next couple days?
ReplyDeleteJDT, I have been in Fort Hood, Texas. It is a big base there.
ReplyDelete