Chop Chop

Market doing a whole lot of nothing but I think we will get an attempt to go higher then we will pullback more. Looking for sub 1200 if we break 1305 in the day time session. For now looking for some resistance in the 1328 and 1334 area

Mark Haines

Good bye Mark Haines you were my favorite financial report in the world.

Numbers

If we can bounce today over 1318 we should target 1323.50. One the downside there are two close areas to watch if we fall below lows of days 1308.50 then 1306.50

So what Next

So we are getting a deep pullback here in the markets. Futures are down over 10 S&P points an hour before the open and we looking weak. I have been patient over the last few weeks when everyone thought we would spike up higher immediately but there were warning signs.
Right now it gets complicated for me, why? well here it is in short time and price projections are not matching here at all. Time projection are telling me we are here at a close to a cycle top but price has already started the decline BUT I must note that cycles also shows a cycle low in June/ July time frame so this pullback 'should' be buyable somewhere in the next week weeks. I feel much more confident when time and price are in concert with each other and they aren't here.
If I am to follow the sequence of what is going on my analysis would lead me to say we are going to get a much deeper pullback and it will shake out much of the weak longs.
Remember what I have been saying for the last 3-4 months this move up is on very light volume and this might be the first real sign of the crack.

Stay tuned

Back! Almost

Been traveling so not much time to post- Since I have been off we have gotten a pullback in the market and yes I still don't believe it we are yet heading down but my cycles tells me june will be a bottom so this is how I see it.
I think we are due for some selling here maybe in the next couple of days into the June cycle bottom, whatever will trigger the selling is not relevant but it should be bought.
Long term I think after that last push of of the June bottom the next wave will be the end of this long uptrend in the market.

We will see soon enough!

Still Out

A lot of catching up to do but I will be back posting next tuesday, just too busy.

Rumors

More rumors circling around. Greece is asking to leave the Euro area.

WOW

So this morning at 8: I posted this movement was just a pullback but after the 8:30 number the futures went higher. Geez that was fast but it leaves me empty of any positions as I was thinking we would see weakness into mid next week but we will have to see how this plays out.
Yesterday down candle is huge and projects much lower, just a warning.

In my Opinion

In my Opinion and analysis this is just a pullback. A number of crushes yesterday especially in the commodities but as I repeated many times $113 was the top projection for Oil and that number came up numerous times in my analysis. Though we went over the number the project still stick and that's why you should be out of all long then.
Yesterday Oil got killed and it is good for the US economy as gasoline has been eating into household pockets these past weeks. Soros also selling Oil futures was a sign of a waterfall sell in the works but the real under the radar news is that Oil futures margin is rumored to be increasing and that makes folks like me who trade it needing more monies to trade it. I believe that's the real story behind the selling yesterday, fast money trading leaving the commodity due to this rumor.

Busy

Next two weeks are very busy for me so posts will be limited. If we hit 1341.50 area I think it will be a good buying op and will use that area to carefully load up some longs. In the mean time 1385 is the new upward projection before we hit my full projection of 1425.

1384/5

Next projection point is showing 1385 area.