Still short....still operating under the scenario that this morning's 2 was juiced abnormally by the houses (futures) looking to unload inventory in the first hour.....we also got short-covering.....and some fence-sitters (and bears) who got faked out by the action, and started thinking long thoughts...that allowed for a retest of the morning high, and for some anxious moments for bears...
(BTW- I think we got something similiar last Friday....houses kept things up abnormally during day....then, of course, the rug got totally pulled Monday morn, when the games stopped, and Elliott took full-charge. The houses like to mess with the pretty charts sometimes.
If this rally or whatever has legs, I would think it needs to show a lot of strength in the next hour....for yesterday's candle has every reason to suck this thing down....I would think we are also burning some real bull fuel here, and 15 min./hour stochastics moving higher and higher, and should be turning down soon .....and we have several times tried consecutively to break (since yesterday) 2100 , 2095, 2090, 2085
and failed....each time failing at a lower point...
Trying to keep an open mind here for all scenarios....just think this morning was just another example of the games played....way, way above my head...
(Note: On this last little uptick, I noticed that the COMPX was unable to get back to equivelent levels to today's earlier Dow relationship...in other words, Dow went up further than Naz (relative to previous)....more negative divergence...and makes me feel that Naz is a little spent here... |
