Market Watch

[jiesen]

what, are you guys practicing for CNBC jobs or something?

[dmk112]

I think the market will most likely pullback tomorrow as it is at the short-term resistance. BUT if it does break tomorrow we can see some nice upside (short-term).

[lemonjello]

McGuffy's chart reader

Naz 100 price targets

Bounce continues to 40 - 40.5 and then drops back to slightly below 37.5.

After that - trading range floating up and then hard screaming drop in late summer, early fall predicated on some news event(s).



Good trading folks.

[Runner]

[lemonjello]

Yay me.

I just noticed, I'm now a SENIOR member.

Is there a prize with that?

[New-born baby]

I just noticed, I'm now a SENIOR member.

Is there a prize with that?

SURE IS! Congrats! Lye will send you a bottle of GoJi juice.

[dmk112]

Runner, I don't know if you have enough there for a wedge. I'm not saying it won't go down but a wedge is a stretch. I think we still have room to bounce more.

[spikefader]

Naz 100 price targets

Bounce continues to 40 - 40.5 and then drops back to slightly below 37.5.

After that - trading range floating up and then hard screaming drop in late summer, early fall predicated on some news event(s).

Good trading folks.

lol you buffed up that crystal ball real good tonight dude! hehehe

[spikefader]

Runner, I don't know if you have enough there for a wedge. I'm not saying it won't go down but a wedge is a stretch. I think we still have room to bounce more.

Yep, I agree. But it definately is a fuzzy rising wedge

[Runner]

Yep, I agree. But it definately is a fuzzy rising wedge

That fuzzy wedge caught me by surprise today. Had zero clue we would tankola….lol

[lemonjello]

Nice.

I still think the Qs go back up to around 40.5 b4 before it breaks down again. Looks like it's forming a little double bottom here, incorporating your fuzzy wedge into the bottom. Is that a fuzzy double bottom?

Yep, I agree. But it definately is a fuzzy rising wedge

[DSteckler]

Nice.

I still think the Qs go back up to around 40.5 b4 before it breaks down again. Looks like it's forming a little double bottom here, incorporating your fuzzy wedge into the bottom. Is that a fuzzy double bottom?

You can't tell whether a stock has made a double bottom until after it happens.

[lemonjello]

Ok. I was kind of playing around with the 'fuzzy double bottom' phrasing because it sounded funny. Apparently no one got it. If you want to be serious about it I have no idea about any kind of 'fuzzy' chart formation. Is that used in the same sense as fuzzy logic?

You can't tell whether a stock has made a double bottom until after it happens.

[Runner]

Here are a few possible areas for shorts:

GOLD
SILVER
ALUMINUM
HEAVY CONSTRUCTION
IND OIL
OIL & GAS REFINING
NONMETALLIC MINERAL MINING

ALL 239-sector groups I track look horrible and I mean horrible. This market IMO does not favor long positions right now. Your better R/R is in shorts anyway.

[spikefader]

Ok. I was kind of playing around with the 'fuzzy double bottom' phrasing because it sounded funny. Apparently no one got it. If you want to be serious about it I have no idea about any kind of 'fuzzy' chart formation. Is that used in the same sense as fuzzy logic?

lol, no I got a chuckle out of that one lemon I was half kidding about the fuzzy wedge too. Yes, fuzzy logic is the angle I'm coming from.