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Market attempting to hold todays VA of 1099-1097...
Carl, I trust your analysis, I have only two years experience in trading. I believe first time I see market so much confused about direction. I believe something big going to happen, will have to wait and see...
Markets range has been 1085-1111... One way or the other the market will move past one of these areas... I just trade what i see!
Do you have any comments on GLD since it broke through the 1130 support?
Lots of long tails are forming on the 15min charts... looks like the market is rejecting the 1103 area for now.... If we bust through 1105.50 then 1108 next area of resistance!1108 is Strong Resistance, may be good to fade that price if we get up there...
i would agree with Bandi. It seems to me that the longer it takes for the market to move off the bottom (i watch the TSX chart) the more bearish it becomes. Having said that, we could be building a bottom (unusual as this is not a major area of support) and could in theory go higher, but i am leaning towards a major break to the downside.
Something to keep an eye on... USD is creeping higher!
I am in support of the idea that next big move is down. I have stataed on this blog that first 100 points from SPX=1100 will come on the downside, before it was faschinable to say so. I stick with that. Happy Holdays To All
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