The /ES printed a balanced overnight session in a quiet manner. We have WFC and JPM earnings on tap here shortly which may get the market moving. The 24 hour profile suggests we may see some back-and-fill action, rounding out the bell-curve and taking us back down to around 1664. The order flow as we approach cash open however, suggests we could be setting up for another ramp higher.
I suppose we’ll have a better sense of the market’s early direction once we hear from these two large banks.
Two key levels of support today are 1667.50 and 1660.75. The latter level marks the upper bounds of the big after hour’s short squeeze that occurred when Chairman Ben said what needed to be said. Losing this level could result in a liquidation snap, at least 50 percent of the way, down to 1654.
Above on the S&P, we still have the high water mark, 1680 to shoot for.
After a strong week, how the market goes into the weekend will be interesting. Will we see profit taking and consolidation? Or will the market continue to press the accelerator into the floorboards?
I’ve attached the following 24-hour profile chart to give you an idea of the consolidation context I initially wrote about:
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One day you’re gonna have to explain to me this $ES_F and your chart nonsense
Absolutely
NICE BPZ WIN
Thanks RC, I need to put some data behind that setup, but sometimes I just get sick of seeing the same setup 100s of times and not taking it.
Sir Raul,
I am updating trade here as your blog is where I’ve posted most often about REVOLUTION LTG TECHNOLOGIES INC COM
Posting all entry/exit on your pages, excluding those purchased at left for dead levels back in 2012 and since they shut pickr down back in Jan
Took some of the 02/28/2013 scoop off the table here:
Status Filled at $4.35
Symbol RVLT
Description REVOLUTION LTG TECHNOLOGIES INC COM
Action Sell
Order Date 07/12/2013, 10:10:39 AM ET
(+314.28%)
remain long a portion at that $1.05 level and last in scoop(posted entry here) 05/08/2013 when it dipped below 3
It’s been a good one, for certain.
(by multiple 1000’s percentage gains)
Hey, so happy you held on and were made whole plus some on your Apple shares.
That little wienie whacker, over on ST, got all bullish a few days ago..hahah (after endless Bearish Banter..don’t buy stage 4..blah..blah..blah!! Such an azzwipe.. 😉
~Cheers to you!!
also taking profit in another little popper add back on July 1..
here:
(an old Sullivan pick)
Status Filled at $3.47
Symbol IGOI
Description IGO INC COM NEW
Action Sell
(+48.29%)
remain long at 2.34 entry above 1/4 position
Yesterday and today are by far two of the most ‘Beautiful’ days we’ve had this summer..therefore I’m calling it a day w/market and heading outdoors to enjoy my green green grass..
Have a great weekend, all you Beautiful People!!
Sooz, you are an awesome Lady, thanks for the updates and commentary.
Get out there and soak it in baby
VERY excellent staying power in RVLT
very kind and I thank you!!
😉
nice continuation ^ up up and away..ahh yes.
taking the rest of those 1.05 entry of most beautiful beast!
here: (+411.14%)
Status Filled at $5.37
Symbol RVLT
Description REVOLUTION LTG TECHNOLOGIES INC COM
Action Sell
Trade Type Cash
Market Session Standard
Order Date 07/15/2013, 10:05:14 AM ET
hold long last ins..
*a Beautiful beast
They’re on to me, Sir Raul..
haha
Interesting rebuttal(Friday..via ST)
Well, maybe they^ should hop on over here and learn how to respect.
Don’t listen to those clown babies