Thursday, April 29, 2010

Road to /ES 1155


SPY next week will be around 117?

/ES – move up  BINGO (and what with that aura?) materialized – now lets see how it'll do on the downside..

Oh …add this chart to the bunch as well (do NOT overlook volume – recently it is as high as it was at February bottom, that my friends is not a "healthy market" as many of inflexible traders who riding long trade would want to think – that, mi amigos – DISTRIBUTION)
Quick memory trip – It's been great while it lasted - post as of April 22nd, one of the subjects – upcoming EURO long trade (but of course – based on weekly chart – for good long trade we might wait another week or two)

2010-04-22_1653 04-22-2010 2010-04-29_1847 04-29-2010

Yup…money maker…but, sometimes I think I

and I really lose any desire to continue to do so…

Looks like this is the end of the line for IYT
expect may be slightly higher high tomorrow and voila - down it goes in ABC

it always falls from new highs and rises from new lows - would not you agree

Bonus chart – Wells Fargo (WFC)
WFC wave 5 – short (1,7 trillions off balance sheet – proposed reform will whack-o-mole it really hard…even just a thought of it…)
2010-04-29_1859 Over and out – hanging up the empty telephone – no posts till Sunday night…may be…
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