Stock Market Intraday Chat: Apr 30th - May 4th - Page 9
Ok I know most of you have pets that can do better charts than me but the RUT is usually first to show me an indication of whats ahead, am I seeing a classic head and shoulders here? Looks like right shoulder forming to me. Neither a bear or bull just like to be the right side !
Rats always leave the sinking ship first, and no other index has more rats than the small caps
Very legit possibility... the LS is a bit sloppy, maybe not the right word for it, it's flat. If you back out to the weekly, coming off Oct lows the last few months look a lot like bullish consolidation under resistance, volume has been pretty low, looks a lot like a bull flag. Not sure which way this one goes but IWM is a good tracker for the supports, around 81 or so. Personally it still feels like they want to jam this market higher, but for sure there is more of a struggle getting up through the 52 wk highs than last time we set them.
Added to longs at 11:30 after we put in a bullish engulfing candle on the ES - mini...check out da chart !!!
Thanks guys..You know how many times i have seen this set up and did not pull the trigger,watch it fail today I get the feeling we could be setting up with an upside surprise on jobs Friday after todays bad ADP report,they seem to contradict each other...I think Rando mentioned 1440 -1460 and putting all my personal biases aside i think it has a shot..
Have you guys ever seen this??? *Shudders* ... I never knew SJE had Korean ancestors!