spx friday decision weekend

We've had the low and look forward to the retest, likely a W test or a variation of that

with 13billion funds outflows, yet, contra to that, a record insider buying, we are at an interesting juncture and the reason i say decision weekend is because all said and done, no matter the mass buying by people like Goldman on the ES big contract and no matter the close to zero interest rate environment with a system bloated with liquidity, when the usually passive mum and dads becomes active and decide that between the memory and pain of 2008 and the nearterm scares of may flash crash, they may decide to simply vote with their holdings on monday

for mine i think that we have a low in place now.... a significant low and not losing sight that company earnings here and in the US are pretty good and the downdraft has given up some handy yields (see GUD above 9%) so this is the cup half full half empty moment in my opinion

as for the futes side, it's game on as usual......fast stabs down become fodder for forced short covering and the whips shall remain wider in each session until we have established enough height that the sellers become exhausted and pass the recognition point.......i still think that 1156 weekly basis is the key to hold above on the spx

next upside challenge is the (vpoc) 1250 level but once inside that level the upside battle should subside but all that's a long way away.....just having a less volatile friday would suit me fine......

we should get some fast positioning upon the sentiment numbers tonite....i think this is the time when any news release not normally attended to will be an excuse to launch raids on both weak longs and shorts if ever there is a time to discipline pos sizes, now is it!

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By Rennie on Thursday, August 11th, 2011 at 3:36 pm
Fourth Consecutive 90% Volume Day
Up volume currently running at 96% of total volume.

things of interest/pertinent:

http://www.gallup.com/poll/110824/Gallup-Daily-US-Economic-Outlook.aspx
Sentiment

13BOutflows

InsidersBuyingHighestRatexMarch09

videos:
Robert Jnr is at it again