machinehead Posted June 29, 2004 Report Share Posted June 29, 2004 The Conference Board declared a 2 year high in consumer confidence...at the same time that the major retailers are coming up short of expectations. confidence and consumer spending are supposed to run in together. Moreover, if a puny 35-point DJIA gain is all the stock market can manage on this great number, then the market is not confirming the number. Failure to rally strongly on good news is a kind of negative divergence. Link to comment Share on other sites More sharing options...
Guest Posted June 29, 2004 Report Share Posted June 29, 2004 unfortunately nothing matters. They are walking the dog up the hill through intervention, allowing all of the charts that got hit this morning to reset for the up move...which is scheduled for any moment now. Link to comment Share on other sites More sharing options...
brian4 Posted June 29, 2004 Report Share Posted June 29, 2004 Window now closed that turn was against us-the Pig limps on alone for a bit- as long as stays where it is, it should be a repeat of yesterday so Patience! Link to comment Share on other sites More sharing options...
Guest Posted June 29, 2004 Report Share Posted June 29, 2004 I missed the breakout by 80 seconds Link to comment Share on other sites More sharing options...
Guest bullseatshitndie Posted June 29, 2004 Report Share Posted June 29, 2004 The Conference Board declared a 2 year high in consumer confidence...at the same time that the major retailers are coming up short of expectations. confidence and consumer spending are supposed to run in together. Somebody's lying, and I can assure you it is not the retailers. Think about it. no doubt in my mind that con con # is total bs. anyone that believes it has their head so far up their a**. gas prices near all time highs are having a pinch on j6p. they are pulling back as seen at wmt, tgt. i highly doubt people are feeling good w/ less $ in the wallet. as far as con con #'s following equity prices, i agree. but the markets have been flat. this # is so cooked! Link to comment Share on other sites More sharing options...
brian4 Posted June 29, 2004 Report Share Posted June 29, 2004 The Swing high was last Thursday intra day at 1146.37 since then the intra day highs including so far today have been 1145.97-1142.60-1136.61-it doesn't get anymore BEARISH than that! Link to comment Share on other sites More sharing options...
Guest bullseatshitndie Posted June 29, 2004 Report Share Posted June 29, 2004 this action this morning is nothing more than weak shorts covering on bs con con # and before fomc tomorrow. once this unwinds, we go back down. Link to comment Share on other sites More sharing options...
Lock Limit Down Posted June 29, 2004 Report Share Posted June 29, 2004 Observation: I have watched the spoos tick by tick for thousands of hours What I have been seeing for the last few weeks is unusual and stinks of the invisible hand. The market throughout the day has orderly selloffs whether it be 5 points or 20. After steady slow declines we see regular jams time after time, repairing any down, taking a fraction of the time it took for the previous decline. It has become very very consistant. The selloff in gold today is beyond stupid. Price is not being set by supply and demand. B4 Thanks for the heads up on IBM Would love to see an honest audit of that pitiful company. Sadly it will not be allowed to happen. Silver Loaded the boat agin today. I am just about maxed out on the physical. Very very happy with my average purchase price that is currently 5.68. Link to comment Share on other sites More sharing options...
DrStool Posted June 29, 2004 Report Share Posted June 29, 2004 Take a look at a chart of the concon. It tracks the stock market. Market up last month? Concon will be up. Market down? concon down. For the market to react to this number makes all the sense of a dog chasing its tail. The market is behaving exactly according to form. No surprises. It's going up because there are too many shorts and too much short interest in advance of the Fed announcement. A meltup is possible. Link to comment Share on other sites More sharing options...
Lock Limit Down Posted June 29, 2004 Report Share Posted June 29, 2004 If anyone is interested bring up the 1 minute Dow and you will see plain as day what I am referring to... Link to comment Share on other sites More sharing options...
brian4 Posted June 29, 2004 Report Share Posted June 29, 2004 stopped plus 80 points-greatfully received! Link to comment Share on other sites More sharing options...
Darkdoc Posted June 29, 2004 Report Share Posted June 29, 2004 1139 likely on SnP. If it breaks that, 1142. After one of those numbers, we should go down again. Link to comment Share on other sites More sharing options...
brian4 Posted June 29, 2004 Report Share Posted June 29, 2004 opening now till the top of the hour- back in bought 10 july 1140 puts stop 1143-Buckle up! Link to comment Share on other sites More sharing options...
Lock Limit Down Posted June 29, 2004 Report Share Posted June 29, 2004 Now they are buying IBM Market goes nowhere without Big Blue Link to comment Share on other sites More sharing options...
brian4 Posted June 29, 2004 Report Share Posted June 29, 2004 Dark Docky I make 1142.60 as the demarcation line under that DOWN! Link to comment Share on other sites More sharing options...
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