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I don't see much chance of a decent rally for a couple weeks at least.

 

Opinion subject to change without notice. Dealer title tags and taxes not included. May cause, nausea, gas, bloating, and oily discharge. Consult your physician.

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My COMP 3 minute chart is showing a decline from stochastic peaks much weaker than bears would like, in the context of the 1 and 3 day cycles ready for some up-side oomph to continue, keeping my 3 minute chart reasonably levetated. The real mystery stochastic that concerns me for the moment is the 13 day-102 minute showing a very real bottoming process and setting up for a launch. This could give some impetus to the 3-day cycle or vice-versa. Either way, I don't think I would want to be short for the next couple of days for sure. But what the heck do I know, I'm still holding those damned calls I added to on Friday, though I see volume, if not much price on them.

 

Mystic market rumbles on through its oscillations.

 

An out there thing. If there is any truth to getting Osama in the immediate future, this would REALLY push along the 3 and 13 day cycles. Scam week shenanigans could erupt this week as well.

 

Which brings me to what I think the real difference between U.S. and European markets. Stateside the derivatives such as options seem to run the market while in Europe the market runs the derivatives. I would have to assume Europe does not experience the scam week phenomenum to the degree that is happening here, other than following the trend set here once scam week unfolds. A scam week stick save here seems to stabilize Europe.

 

I don't think the current drop in my 3- minute chart will lead to much downside, as my stochastic is already bouncing off the bottom as a prelim to rising again.

 

Not much down after this folks. Good time to cover some intermidiate stuff?

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Doc had a great observation a few days ago that the 72 sma is a half cycle of somthing or other depending on the time frame used.

 

Oy can answer, but I use it for support and resist. If it bounces at support - we can go up. If we bounce down on resist - we go down.

 

SPX currently at 72/3 - 807.87.

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My take on key low / high day... I stand by my M2M comments made last week that mkt remains in a range until Iraq situation is resolved.

 

Levels to watch for afternoon session:

NQ bbz 966.255 966.340 desc 968

ES bbz 807.706~808.069 desc 814.25

post-3-1047407177_thumb.jpg

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Another pump attempt to see if they could gain any traction and rally them. Man, they are throwing everything at the market and can't get the ramp. This thing is weak. Snowjob and Greenman better take up a collection.

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this pig is indeed extremely weak. Best to be pay-tient and believe in the bear at this point. Of course, stops in place but worse thing you could do now is second-guess this pig and cover too soon.

 

I didn't make much money in bull market b/c I was a nervous bull. Not gonna happen this time.

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