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I don't see why you guys are so bearish. Standard TA shows a strong uptrend with nothing especially not overseas news bringing it down. In my opinion once again same as Tuesday, if tomorrow we don't see any surprising numbers regarding the reports we should continue the uptrend. There may be the usual morning sell off or gap fill but overall tomorrow should be a great day to long the supports!

 

Nikko

 

I agree with the overall picture. However, earnings continues (bad numbers from BAC this morning btw), all eyes on spain bonds, unemployment claims knocking on 400K again this morning, and with housing and philly fed this morning, plenty for people to be worried about, and thus a bit skiddish.

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btw N, the 90 level tested overnight was on my chart from maybe 2 days ago as a gray line -- important not in that it was POC, but the "ledge of the 4/4 and 4/5 balance, check it out. In response to your image above.. 90 maybe important, but in a different way than 92s.

 

Ok, so we have open, test, ... now, drive.... up? or down? :)

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I am a buyer here guys, 78.50, let's see if I'm early, or wrong altogether.

 

Ok, got a scale at 80.75, just below the open. Stop at BE 78.50 on rest, I will let it work to 85 if it will go.

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I see us in range trading yet for several days before the true direction is let out of the bag. We pee-peed our way to the so far high, maybe we will bee-bee it to the next low around the 65 area.

I am posting a chart of how I split on my profile looking for new step 1 trades from the present low that we are working from.

 

slick60

 

Nice to be in an active thread for a change

5aa710eeda026_4.Apr18retrace.thumb.png.44b17bcd7a43dc405bc247fcca9dc689.png

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May need to auction lower IMO, and may buy at 77ish if it looks right. 78 is key though, and I'm not sure it should auction below there at all.

 

EDIT: guess they're okay paying up, nevermind.

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Hi N

The one for this last auction that we are working in as I split and follow

 

slick

 

As intriguing as the number is, I'm not sure this is an especially traditional way of employing the initial balance. If it works for you though, good luck to you! I had 74.75 for a different reason but there you go, it often works out like that.

 

Awesome movement right now btw!!

Edited by TheNegotiator

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Perhaps yesterday's high will kibosh the north move now and let us slip and slide to find the low for the day.

Buying and selling above and below value seems to work not bad today.

 

slick60

 

Too nice a day here not to take advantage - gotta shave and go golfing. Trying to shoot my age.

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