Do or Die

I think I speak for everyone involved if I say that it’s way past high time for this market to either breach the wall ahead of SPX 2150 or finally accept defeat and relieve itself to the downside. It’s become a war of attrition at this point as we have been suffering through this deadlock of a market for more than a year. And may I say – it’s getting not just boring but increasingly annoying.

 

the_wall_must_fall-1000x593The Wall…

Image credit: Home Box Office (HBO)

 

I’m fine with a sell off – I’m also fine with a ramp – just let’s get this show on the road, thank you very much.

Alright, I am feigning being a bit of a drama queen here as things are actually looking pretty productive now. Note how last night’s complementary stop run found a quick bid exactly where I had drawn support at 2106.

I trust many of you will find yourselves magically relieved of what looked like perfectly positioned long campaigns yesterday afternoon. Frustrating – perhaps – but all that thrashing around is producing more and more context, which is what we need in order to establish a firm base camp near 2100.

 

1-_spoosSPX E-Mini futures, 60 min. and daily – click to enlarge.

 

We tried a long position in soybean oil futures yesterday but it was taken to the woodshed overnight. Not being easily discouraged I’m trying this one more time with a stop beneath 32.1. If this one finally gets into gear it should be well worth the hassle.

 

2-_ZLSoybean oil, 60 minutes and daily – click to enlarge.

 

And you ARE long corn, right? Just checking…

 

3-_cornCorn, weekly and monthly – this looks quite enticing…

 

This missive was originally posted by The Mole, over at the Evil Speculator.

 

Charts by: Ninja Trader/ Evil Speculator

 

 

 

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One Response to “The Wall Must Fall”

  • Hans:

    I can not earn any capital gains in this market other
    than dividends.

    My last six trades have all been drawdowns thanks to
    Yellow and the Gosbank.

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