Monthly Archives: October 2010

Voodoo charts

If the elecion/fed combo is a pivot then i would expect to see some profit taking & volatility next week – volume should show weither the smart money is exiting or not. After that a new high just before or on the election/fed days and then a more meaningful sellof before the december rally.

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Eurusd

Some weird action on tf and dx friday/sunday (Thanks for bloodwine for pointing this out)

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Defeat

Closed all my shorts today. Never, ever should one try to trade against the establishment. Volume is strong today so i think that sealed the deal for any bearish views. Looking to buy the next dip we get.

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Dew

Blue pill overdose

Right now, the market seems drugged up on blue pills, and me on red pills. I dont want to be bearish, but the little i have learned over the past year tells me to be so at this point. Here are lots of charts that i have looked over today, what makes me look harder is the fact that whatever happens, once its over, looking back at it makes it seem obvious, there are signs out there that if read correctly are already telling us whats going to happen next.

What i would like to learn the most is to balance ta with sense of the market and overall situation – it would have made this past 3 weeks much more enjoyable. What worries me against the bear case is there is earnings season coming up and elections, i have no idea  how they will affect the market this time. If i were a politician, id not want to have a market crash before my seat is secure so id delay it as much as needed (what a bastard).

General charts:

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Worrysome charts for bear case:

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Rally leaders

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Internals:

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Ratio alchemy:

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I dont think its done

A selloff from here would be too easy and obvious i think. Ew people are basically divided, either this is on the halfway of 3 up that should shoot through the april highs, or this is a top of 2 and 3 would begin that would take us sub 1000 on spx. I dont know, all i think is that earnings season is coming + elections. Regarding pomo and fed stuff, i think they will intervene but i think they will do at a crucial moment, when we have sold off or something, injecting lots of cash at this moment does not make sense.

TltErJeer