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Friday, June 15, 2012

$SPX - Big Rally Update

SPX managed to push up above the yellow fork resistance yesterday.  The sideways consolidation zone should be nearing completion in time with a more convincing surge in price higher next week.  

15min Chart

16 comments:

  1. I see gold dipping from here for at least a couple of days unless the close is strong.

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  2. Hi SC: Do you think this small rally will hold today? Whats your thoughts for today? thx

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  3. I sold my xiv for a small profit. Worried about the weekend. May try uvxy into close and dump and re-buy xiv next week if it plays out. Good call so far SC

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  4. I think may see a dip from the 1340's before pushing higher next week. Still plenty of upside imo.

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  5. Hi ZigZag

    Not sure if you still visit this blog. Wondering your input if you still stick by +/- 13th day is the high and we go down. Or you agree with SC that the high may have delay till next week?


    Thanks!

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  6. SC, how much precious metals may dip before pushing much higher ?

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  7. Hi SC: Do you think we have hit the high of 1338 for the day or do you think there is still room to move to 1340 today? thx

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  8. Hi SC: Do you think the market will pull back at close? thx

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  9. just not happening....looking bullish next week.

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  10. Replies
    1. No. I actually decided to hold it against all conventional wisdom despite the market roaring higher. For some reason, I am hopeful of a gap up on HVU Monday Morning for me to sell into.

      Bought HVU at $4.47. Even still, if the gap up doesn't materialize, I will then sell and buy back on Wednesday.

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    2. This comment has been removed by the author.

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  11. Nice move up for the market! Interesting that gold could not follow...

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  12. Oil looking a bit bearish as well. Hard to believe with how much it has dropped, market flying, and dollar dropping, but it sure doesn't want to go higher. Looks like a sick puppy for now. Perhaps it has a big 3% up day ahead of it, but looks more like it needs capitulation to me.

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  13. WOW!! another great day tradin'...I just wish I had access during my work hours...have to make my trades early in the am(4:00) so I have to leave some $$ behind but oh well a win is a win. set the trigger for july$7calls BAC .85 and sold 1.05 a few hours later. a target range I have right now(big) is $820 to $8.40. I;m leaning to the low end cause I just don't know yet when 1370's get here how fast it runs. THANKS again for such a nice place to discuss and share and leave the bickering and feuding to the other places...I'm out

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  14. after the Central banks fireworks, and US Independent Day firework
    buy the rumors, sell the news - on central banks actions.
    Global rates cut.
    ECB cuts rates to record low, China rates cut, Bank of England QE...
    Denmark sets a negative rate for first time.
    i think this could be an indication of central banks monetary policy cliff with stagnant economy that takes toll on the global stock market.

    http://humblestudent777.blogspot.com/

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