Just one in front of us: 2015 May high. 10 points from Friday close.
My suggestion is DO NOT TRY TO SHORT FROM HERE.
Even if it worked at the last 7 times most probably this time it will not.
If we break the 2015 May high there will be a terrible short squeeze I wouldn't be surprised if price rallies to 2300 in a week or 2...
And now we are at new high again.
I think today could be the day when bears starts to panic....
That's what I was afraid of: no pullback.
Now I looked at it:
this is the time to buy .
If you have short this is the time to bite the bullet and close it.
This is not going to be better.
It broke to new highs and running. Breaking almost 2 years of consolidation.
Will there be red candles ?
Yes . There will be. But we are not going to have a flash crash.
The freshly printed billions are flowing into the stock market.
Take a piece of this big cake.
-1% maybe... It could be used for adding or enter into a position at the end of the day.
We will see...
It's just a pullback after 8 days of monster rally...
50 EMA or breakout test.. WHo knows?
It's another adding point for me.
It seems USA had lost its faith UK.
The government forced Goldman to buy the index at the premarket.
3 thing is sure on this world:
Death, Taxes and market will not fall before USA elections.
In the night the USA futures were pulled up hard.
I think the Govt. wants to have some room for a little falling. They just don't want price to fall below the 2015 May high once we broke above that.
No surprise for us.
I looked up the Commitments of Traders Financial Traders (TTF) Report for the S&P 500 Index September 2016 (SPU16) on BarChartdotcom.
The commercial speculators and large speculators closed most of their futures positions on last Tuesday. I don’t have much experience with this but fewer open positions preceded the December 2015 S&P 500 decline/correction. I am staying out of equities for now. I agree there will be a jump up but I wonder if there will be sustained high bullish volumes. I am in the global crash camp and don't need to take any short term bullish (or bearish) positions. The jobs report was not good in the larger picture (it was like lipstick on a pig). I mean this all very respectfully to you.
But this is the reason - S&P-Dow breakout - why oil will not fall too much.
When everything is going up why would oil go down to 20$????
That's the reason oil bears will be wrong. We just need their shorts for the next leg up.
During the next oil rally - maybe starting in 2-3 weeks- oil shares will go crazy. I will post a lot of charts before that.
Individual shares with 4-500% profit in 2-3 months.