I was interested to see how big 100,000 ton’s of corn really is. I get export updates emailed to me daily that look like this.
Found a vid of a crap load of corn.
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The DJI fricken finally hit an all-time new high on Thursday. I’ve been patiently waiting cause it seems to be the major index that’s been trying to play catch up. So now being short is a little easier for me.
Will it get to the upper trendline? Maybe but I doubt it.
It’s showing a little trend in this push up but if it breaks my moving-averages then I will be looking for an extended short swing trade on the DEC future contracts. But which one should I choose?
At a quick glance is seems the NQ is the most over-baked at this point with it being extremely over bought for the last, I donno, month! WTF! It’s really hard to say. Pic your poison. I like how the TF is looking just cause I really don’t think it’s got much left in it and it seems the weakest. If it does go then I’l be looking for a solid 1200 test then an extended push into the lower value area and a test of 1150.
I do like how the NDX is so over-extended and a close below the old high of 4740 would be a great sign of more short sided trades all the way back to 4500.
The SPX is stupid. I’m sick of this index but as you can see it too is over extended and I do have short orders in a little higher up just for the hell of it.
Either way this market is ridiculous and I won’t be going long, besides the occasional scalp when they kill the bears.
OMG this is absolute madness! A market anomaly that is the most insane thing. SPY 185!
Or wait that SoyBean 999.75 thing was just as crazy. But anyway,, the 185 level for SPY is pretty heavy duty, and now it’s a very obvious thing. If you haven’t noticed, today is the 3rd day in a row of the SPY close at 185. Think it’s a coincidence? In the most volatility market in a long time what are chances it will close 185 3 days in a row. WTF!
Where do I begin..?
Check out the SPY daily.
Huge gaps and huge runs, but wait… Today’s action was real weird. Yellen spoke and the market went nuts and spiked way up to break to new session highs, but then look.
The /ES squeezed all fricken day on the 15min, of coarse until the end of the day when they stuck it to the 185 on SPY. When have you seen that before? Plus this morning crude dropped into the 27 range and it would usually take the market to lower levels, but the market didn’t give a shit cause Yellen opened her big mouth.
But the Yellen noise was again a huge backfire. The price action of the after hours market on the /ES has been almost as big as the daily. Nuts! The gaps have been huge.
So this is just some weird BS that I’ve notice the last few days. Here’s some posts from the last couple days to sum it all up.
So look out below. I don’t think we can hold this 185 for to much longer.