If we go down to hit the rising trendline tomorrow then it’s most likely a buy. If we gap up to hit the falling trendline then it’s most likely a sell. The old rule of thumb is to do the opposite of the open on job data day… and they release it at 8:30 am before the open. But even if it gaps up and falls back down tomorrow the medium trend is still up. So early next week I do see a rally.
Market pulling back after hitting that falling trendline of resistance on the ES Futures per the update chart just posted. But I’m not looking for a lot on the downside. I don’t know if it will drop to the rising trendline or not? That might be too far down as most charts still want to go up.
Not saying it’s over yet. I see another nice drop coming soon.. probably starting next week. But after that I see one more rally up to retest the current highs and break them by some unknown amount. Then we’ll get another crash sometime next year.
Yes I have 500 @ 2.59 couple of days ago.
SPX must hold the line or another move down to around 1900 is next http://screencast.com/t/EBkWdebG75J
I think we’ll bottom early Friday and then rally again. Still choppy waters.
ES Futures Morning Update: http://screencast.com/t/M3RZ69bz
9/16 35 strike looks good for a trade
If we go down to hit the rising trendline tomorrow then it’s most likely a buy. If we gap up to hit the falling trendline then it’s most likely a sell. The old rule of thumb is to do the opposite of the open on job data day… and they release it at 8:30 am before the open. But even if it gaps up and falls back down tomorrow the medium trend is still up. So early next week I do see a rally.
IWM Update: http://screencast.com/t/8GUEH4mldmYk
VIX Daily Chart Update: http://screencast.com/t/5XLQB1sJt
ES Futures Midday Update: http://screencast.com/t/lIQvvaRm
Market pulling back after hitting that falling trendline of resistance on the ES Futures per the update chart just posted. But I’m not looking for a lot on the downside. I don’t know if it will drop to the rising trendline or not? That might be too far down as most charts still want to go up.
Not saying it’s over yet. I see another nice drop coming soon.. probably starting next week. But after that I see one more rally up to retest the current highs and break them by some unknown amount. Then we’ll get another crash sometime next year.