Mr. Friendly must be meeting with fund mgrs and getting all the poop, so he can post it here. Be patient, Mr. Friendly will return
The DJIA 200 dSMA and long term uptrend continue to hold however today's low close does not favor the bulls going into next week. Interestingly, the volatile down/up/down price action during the past three sessions resembles the three day price action immediately preceding the simultaneous 200 dSMA and uptrend break during October 2014 as follows; 10/7/14 -269, 10/8/14 +288, 10/9/14 -340 vs. 1/28/15 -211, 1/29/15 +221, 1/30/15 -252. The next days close on 10/10/14 confirmed a simultaneous uptrend/MA break and within days per an intraday basis the DJIA declined 700+ points. Break or Bounce? Early trade action next week should provide the answer.
A break and close below the 200 dSMA @ ~ 17,000 will not bode well for US equities but so far the markets are holding and the long term uptrend remains in tact. Pay attention to the closing prices today and tomorrow as they could be an indication of lies ahead near term. A confirmed support break may lead the markets into an aggressive liquidation phase which would likely target the October 2014 lows.
He needs Jforuus to give him a nice rubba dubba. Oo lah lah........
Y?????? Why not? U need to take a long walk off a short dock. Sound good? It is!!!
so their Hedge Fund clients won't lose money on their shorts, and they can cover without losing any money before they rig it up, and you say, why didn't I get in - I was too afraid . . .
Tom O'brien at TFNN seems to suggest that a downside resolution is likely followed by a test of the October 2014 lows. His conclusion seems based primarily on volume comparisons.
Watching support @ ~ 17200 and today's close. An intraday reversal remains a possibility. FOMC results may determine near term market direction. Expecting a strong move to either direction, but favoring a bullish resolution as the markets continue to advance within a well established long term uptrend.
He is one of the bestest Presidents. He handled the George Zimmerman case superbly. He will win in 2016. Let's keep the bestest.
Ultimate Stock Alerts is really the best in town! These guys used A+ lubricant when they #$%$ me over.