US Indicies

[BBB]

Well, whats the verdict?

Was the recent rally a bearish correction or really the start of a new bull market?

 

[axthree]

In the words of a leading economist, "F$^*d if I know mate".

 

[The General]

Both, depending upon your position !!

 

[adrianallen99]

Or it could just be ranging or fluctuating randomly like the markets seem to do for 70% of the time

 

[TheBramble]

Putting myself in the firing line:-

If it breaks out on a daily close from the 10325-10450 channel then I'd trade that direction to 10000 or 10750.

 

[BBB]

All wise answers.

 

[china white]

my answer is - I dont know. I was long 1100 - 1150 June strangle, surgically closed the calls when the spot was 1147 ish , sloppily closed the puts at 1123.5 . Now looking to buy the same strangle on Friday night volatility dip. From the volatility perspective much worse entry than the first strangle as the skew had a parallel shift up, but bl**dy hell i want to cash out either way. "Gamma long can't be wrong" as they say it......

PS futs short now btw

 

[TheBramble]

If it breaks out on a daily close from the 10325-10450 channel then I'd trade that direction to 10000 or 10750.

Things have a habit of coming back to bite one on the bottie...

OK, so it did close above 10450 at 10451, but I'd be the first to admit it wasn't a particularly impressive display of strength.

Modifying my stance (slightly), I'd wait to see support hold defiantly at 10450 on Monday. Any break (intraday) below it would have me considering the channel still in place.

 

[chump]

tough one,but I'd be tempted to opine that we will see a bit of up and a bit of down as usual....

 

[Bullish Bear]

I'm generally neutral right now but the market timing research I use suggests a short to medium term top about the 20th. They predicted the recent lows in the week March 20th to 28. Other research I've read suggests a 10530ish top for this cycle on the dow.