All Quiet Before The Storm…

We came within a Dragon’s Breathe of touching 113.80 spy today.  The intraday high was 113.68, and could be “close enough”?  Tomorrow we should be at the center of the eye of the storm, or we could have been there today?  I see tomorrow being flat to slightly down, assuming that the government fudges the ADP jobs numbers as I expect them to do.

If they don’t, and the numbers come out bad, then “bolten’ down the hatches” as the market should dump hard! However,  I don’t really think that will happen tomorrow.  I do think we will start heading down, but more in a controlled manner.  Remember, the money tree is still growing dollar bills, so I DON’T think they will suddenly become honest and tell us the real numbers… on any news they release.

We could, and that means only intraday, push up just a hair more to reach that 113.80 level (even pierce through it to an even number of 114), but anymore upside is severely limited.  Put it this way… we are now 99% full, don’t count on finding a seat!  The movie is about to start, so sit down (get your short positions setup) and watch the movie.

First target is the lower trend line, and gap fill around 1103 spx (starting maybe tomorrow, and lasting till Monday or so of next week).  Then I think we will go slightly back up into OPX next week, and finally a push down again after OPX… and continuing until the end of the month or the beginning of next month.

Red

Something's Brewing

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