Daily ramblings

3:54
FAZ hit my 20.93 target and made 20.99 high, 6 cents higher. I still see 21.40 and 21.94 as next FAZ targets in days.

3:53 pm
the daily and 60min charts on spx say "bounce up, then down"... but i'm keeping my swing shorts overnight in case we gap down. the risk is low since the sds is already green.
3:21
sds next target 39.60. last 39.33

3:19pm
if bears can break todays low in spx and put in a lower low for day, their position for tomorrow is much more secure. they need another push to give a cushion to allow for declines as a result of poss neg divergences in 15min charts, and fact that they are far from the 15MA.

3:19
21.40 faz lim sell 100%
 
3:15pm
i am compelled to sell some faz here at .93. holding the rest for higher.

3:11pm
the sds uptrend support line is holding perfectly, implying higher sds and lower spx. however, the sds needs to watch out for poss bear neg divergence in 60min. also support line in 60min rsi for sds is holding.

3:09
cancelling faz limit to sell

2:58pm
15min spx is developoing a bull diverg, pointing to poss higher prices. but spx <1074 remains bearish tho

2:51pm
raising llimit to sell faz at .93 from .82 from .77 from .73
2:45 pm
raising llimit to sell faz to .82 from .77 from .73
 
2:30 pm
changing faz limit sell to 20.77 from .73

2:25pm
spx suggests 1048/52 if 1064 is broken lower and sustained.

2:17pm
lim sell 50% faz from .31 at .73....also have cheaper faz from 19.25 and 20.28 holding
 
2:09
faz needs .43. last is .34

2:08pm
faz .31 above market filled. in more faz at .31.


2:06pm
spx 1078 still poss on break > 1073. last spx 1071

2:00 PM
ABOVE the mkt...will add faz at faz 20.33, market order if faz goes up. last faz 20.19

1:50pm
faz first target is 20.48 on break of .27

1:46
spx 1076 possible if 1072 breeaks higher.

1:23pm
faz 3min chart points to .57, which is at or near the high, coincidentally (not).

1:08 pm
added some faz at .21 so cost is now .28

12:48
first target is .58 for the .34 daytrade. but faz must push the rsi and stoch higher in 15min chart or risk a neg bear divergence that will send prices lower.

12:47
I have a target FAZof 21.41 which is strangely between the 50% and 62% fibs of 21.03 and 21.88, IF the bull flag holds.

12:39 PM
OK FAZ rocketed up and I took partial profits at 20.50 from 19.25 for 6.5% in 4 hours.

10:47
the weekly chart suggests bullish exhaustion, right now, unless bulls make new highs. Bearish divergence in weekly.
 
10:42
on friday i mentioned that faz 1932 would become support...thus far it has held, with a break below it, but recovered

10:31
faz trg 1963 if .47 hurdled
9:31
In Faz 19.24

7:57 AM
A break under 1077 and or over 1083 are main numbers to watch for next 3 hours. ES did decline to 1078 as expected, and held 1077 to pivot up. Charts still suggest lower prices.

Scenarios:

Bearish 1:  ES breaks and sustains under 1077 on the way to 1073, 1072, 1068, 1063, 1058.

Bullish:    Break over  ES 1080 for 1083, 85,87,90,94,99, with 1083, 1095, 1099 as the key numbers. Then 1103 up to 1120 if the 1099 breaks.




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7:28 AM
For today, long TZA or long FAZ look good when the markets are weak. Long QQQQ or QLD look good for any market strength or a bounce.

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7:03 AM

ES tested 1083
twice last night, and once on
Thursday. Each time 1083 R held
prices down. Charts suggests a
decline to 1073 if 1078 is broken.  ES last is 1080.


then after 1073, es 1071 critical
test. Bulls will want to hold 1071,
bears will want to break it.

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* ChristopherStockGuy is not an investment advisory service, nor a registered investment advisor or broker-dealer and does not purport to tell or suggest which securities or currencies customers should buy or sell for themselves. For details, see the post from SATURDAY, AUGUST 15, 2009 titled "Disclaimer".