expecting responsive sellers to be active at 1258, 63.75-65.25. above 65.25 (short-term line in sand), buyers are in control in the short-term and the target is 85.5, where I expect responsive sellers to be active. above 85.5, the target is 1305, where I expect responsive sellers to be active.above 85.5, buyers have control in a larger timeframe and the target is 1343 and up. expecting responsive buyers to be active on first test of 32.5-30.75, then at 23.25-25. responsive buyers could be active on first test of 45-44, but it would be riskier.
expecting responsive sellers at 65.5
expecting responsive buyers at 47.5-45.75
expecting responsive buyers at 36.5
above 65.5, expecting 85.5 eventually
chain store sales
monster employment index at 6.00
jobless claims at 8.30 – imp - high
bloomberg consumer comfort index at 9.45
eia natural gas report at 10.30 – low
treasury STRIPS at 3.00 fed balance sheet at 4.30
money supply at 4.30
expecting responsive sellers to be active at 46-48. expecting responsive buyers on first test of 30.75. expecting responsive sellers at 63.75-65.25.expecting responsive sellers to be active at yday’s high at 57.75 on first test. above 47.5, there is a chance price will test the 65.25 area. below 47.5, there is a good chance for rotation below yday’s low at 30.75. expecting responsive buyers at 23.25-25.
bigger pic: been going straight down for a while now on the 405 min and will need a pullback eventually so we could get into balance mode soon
something to watch for over the next week or so (not much downside progress)
if this bigger pic idea is to happen, likely the 30.75-36 will be protected by buyers
target for this pullback would be roughly 85 for now
Last edited by bojangle; August 4th, 2011 at 09:37 AM.
short-term line in sand is 1230
- below, expecting more downside
- above, buyers in control in short-term and expecting a test of 1257.5
expecting responsive sellers at each resistance zone below 1230
bigger picture: above 1304, buyers are in control and a lot higher prices are to be expected eventually if buyers can hold price up above 1304
bigger picture: below 1156.5, huge picture is bearish and potentially the market could fall down to 987.25, then 618.5… pending apocalypse. lol
- expecting bounces at: 1156ish, 1109ish, 1018.5ish, 985.75ish
monster employment index
employment situation at 8.30 – imp - high
consumer credit at 3.00 – low
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friday’s action is making this down-move starting to look bullish
expecting responsive buyers to be active at 63.5-65.25 on first test
expecting responsive sellers to be active at 99-01.5
expecting responsive sellers to be active on first test of 12.75
above 1215.5, expecting a move to 57.5 eventually, which is where I’d expect responsive sellers to be active
the bottom could be put in at 63.25 – friday was a huge hammer (buyers active swiftly at the lows)
below 63.5, expecting responsive buyers at 57.25-59 – expecting strong responsive buying here (very important level)
- below 57.25ish, sellers are in control in a huge timeframe and 984ish is the target down
if buyers are active at the ON lows, expecting a test of 1215 eventually. because of this, shorts are riskier above 63.25 in the short-term. expecting buyers to be active on first test of 63.5. expecting responsive sellers to be active on first test of 88.75. expecting responsive sellers to be active on first test of 99.25-01.25. expecting responsive sellers to be active on first test of 15.5-13. expecting responsive buyers to be active at 57.5-59.25. above 1215.5, expecting a test of 1257.75. below 57.25ish, sellers are in control in a huge timeframe and 984ish is the target down.