Lately, every time I get brave and decide to short, or buy puts, mother market spits in my face. Maybe this post will mark the top, maybe 1,200 will mark the top, maybe there will never be a top AGAIN. Shame on me for trying to short this freight train.
Take a look at Chess’s blog and notice the Russell & the trannies, that’s about as bullish as a chart can get. However, we still have job numbers to work through, but at the same time who cares? Uncle Ben said the market must trade higher. Maybe that will mark the top? Doubtful.
Going through my scans today, I am still seeing a plethora of bullish charts out there, AND the financials are starting to get their groove on. If the financials can get moving here, I think we may finally bust through 1,200.
Now let’s get into a few setups going into tomorrow.
First up, $DO. With oil above $85, I will be all over the energy space.
$VECO, I like it on strength:
$VLO, Love it above the 200 day MA:
Fly’s $FORM looks great above $10:
$GS, I’m a buyer with strength in the financials:
This is EXACTLY what I needed after a crazy day like today. Some solid direction and some RC charts. Plus, you linked to my man.. chessNwine.
Thanks Buffalo Wings.
Pro calls RC, love your stuff.
Thanks Bob.
Thanks RC – I am still a little leary of energy given that the dollar could bounce at any time i.e JPY intervention. BTW have things calmed down at the Cajun household? Enjoy your sleep now buddy cuz its allllll gonna change LOL
Good point.
Things are just beginning over here, wife already playing the sympathy card, lol. But, it will be worth it. No complaints over here.
Loving OIH here, high beta
indeud.
Same thought on the financials – added MS & MFC
Bot FORM before the close today … nibbling at IIIN (great BS)
Oh yeah, Congrats on the Baby … try some CRI on for size!
Go with your gut. Short day Thursday .