I think today's market action is very bullish and that the 1225 level will be seen before a break of as much as 50-60 points develops. I think the odds are very good that today's e-mini low at 1136.25 will hold for quite a while. We have a very definite bullish divergence in the daily advancing issues numbers. Against the the background of strong long term support, very high volume, and panic newspaper headlines I'd say this is a very bullish indication.
7 comments:
Hi Carl Very GOOD trades today !! Please Carl Which time frame your use in S&P for this signals that you insert in your blog ?
best regards to Italy
Paul
well done sir
thanks for the update.
Do you even like wine?
Solrac
sold some ES @ 1215 and hopefully the 1180 puts will expire worthless
what a day............ what a great day for the bulls indeed
cheers
SUSN
Unbelieveable day. Was it 1150 that the wine was coming? Dont worry Carl, I actually gave up drinking!
My one note of caution is that in EW terms, we actually havent seen the last bearish wave at all which will take us to new lows but yes, right now, key day reversal so bullish short term / med term.
Catherine
It's already 1236 now in after hours futures trading !
How high is it going ?
This is going to sound critical and I wouldnt want to write a blog and be subject to all the abuse you get so it is meant to be constructive.
Were you right? No I dont think you were. I started looking at this blog about 4 months ago and repeatedly said we were going lower.
I also looked back to your reports in Dec at 1500 and you were bullish then. I was bearish and have been since last August after Northern rock - too early yes. I was wrong then.
If I had followed your predictions then, I would have lost my shirt rather than having a v good year.
Now yes you will be right for a while. Between 2 weeks and 2 months. If it goes through 1250, it will be the later BUT this is still a bear market and there is a long way down on housing yet to come and on stocks at a later date.
Watch Marc Faber on Bloomberg tonight (and he knows what he is talking about. He has a great track record)
'Those who think we are in a new bull market are in fantasy land.'
Regards
Catherine
Post a Comment