Usually we get a violent snap back when we have a close below the 100 day MA on the SPY. One occurred yesterday. I would not call this a bounce yet. Has the character of the market changed? That remans to be seen. Yellen our High Priestess speaks at 3:45. Nice timing. Have a good weekend everyone!
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Joined May 7, 2014
165 Blog Posts
But the girl on the car in the parking lot
Says: “Man, you should try to take a shot
Can’t you see my walls are crumbling?”
Patrick,
Intersting comment.
Blue,
You’ve converted me. The Fed just told us to expect no growth and interest rate increases. How can one expect stocks to continue to rise in this environment? Close at the lows three days in a row this week, and few seem fazed. Complacency lingering. Huge week next week.
Also, have been meaning to ask: what type of downside are you looking for and along what time frame?
the pot thickens
http://www.optionmonster.com/news/article.php?page=videocast_big_april_vix_call_buying_102435.html
huge april VIX call purchase
Expect a correction on the SPY to 1910
BCI, what’s your take on the day today?
There’s you snap back.
Pedro,
I am looking to take out February lows. From there lets see how the structure looks.
flyaway18,
Now thats a bounce! I am still short. It took POCB QE rumors and QE window-dressing to get it going. Also there was a huge order below the bid in futures on Sunday night basically saying “try and it my bid I fucking dare you.” Bid was never hit. I expect this to fade but I may be wrong but From what I see not yet.
matt_bear,
BooM!