moolamanic's - holdin' 'n' grinnin' - tuesday, page-78

The triangle lines should "now" offer support. Not the first time I have typed "not" instead of "now".

One wouldn't expect a sustained fall from here after the MACD cross. Sideways to tilting down at worst imho.

The shorts know they'll cop it if they get too excited. If they didn't know before they certainly learned Monday of last week when futures opened up 20 points and the market hasn’t looked back since. With the Fed and other central banks active the way they are, one just can't get too short, or stay short for an extended period.

There is an artificial floor under these markets. I recall in mid 2009, the floor was there and then in late 2009, late October through November December, the market just would not go down. Any small dip was jumped on. Perhaps we're temporarily in a market not too dissimilar to that.