$PEIX:
$SIRI:
$PMI:
$MPEL:
$DNDN:
Small Bombs:
Here is the Scenario
As I sit here thinking about what to write tonight, I have somewhat of writer’s block, I mean chartist block. I guess you came here to find out what the market will do next. Well, the truth is I couldn’t tell you. But, what I can tell you is what I’m expecting to happen.
I expect some more chop to finish of the week, no crash, no rally, just some more FML action.
Price will then consolidate between the 50 and 200 day moving average, setting up a nice little flag pattern.
At this point, the Hybrid score will be in agreement with the buyers, and the rally will begin. BTW, this will not be just any rally, but “The Rally.”
Once the head and shoulders pattern proves to be invalid, $TNA will dance faster than the Saint’s D-line to Farve, straight to $50/share.
Who Dat say they gonna beat ‘dem Saints?!
That’s all I got.
Comments »Steel & Iron
Come get some of this Obama Cheese, I bought $STLD this morning. Here are the top plays sorted by hybrid score:
Resistance Ahead
I’m sure shorts are licking their chops right here with price quickly approaching the 200 day moving average. Upside seems limited, and when I factor in The PPT Hybrid score, one can’t help but to be a little bearish on the markets.
Note: The Russell 2000 is also up against similar resistance:
Keep in mind, while viewing these charts, that the 200 day moving average is the strongest moving average, and a stopping point for most bears. A move above this critical level could possibly ignite a short squeeze of epic proportions via failed head and shoulders patterns.
So get your popcorn and your $TNA / $TZA ready, it will be an eventful week.
Comments »Homework Begins…
And, I start by looking at a few algorithmic screens inside The PPT:
My favorite screens can be found by clicking The Blueprint tab on the right sidebar inside The PPT. I will highlight individual setups tonight as I find them in The PPT. Should be a fun one tomorrow, watch out for murder holes.
Comments »Kill The Shorts
For those looking to squeeze every last drop of blood from the shorts, take a look at this screen in The PPT. PPT members can click link and save screen to their profile page.
