Your timing is great. I don't think we have much more upside today and I don't think we close above last week's S&P high (3/17) as mentioned by Sundancer.
That is the nature of the beast with support and resistance. Reaching that point is onething. What happens there is another. Bouncing off a S/R or containment point is a reversal. Shooting through it, is a continuation of the existing trend. Just arriving at the S/R point, is only half the story.
Everyone must be shocked at the market's action today.
The daily indicators are showing a topping action. I am looking to enter short position very soon. Half way to a confirmed sell signal. Waiting for the remaining ones to catch up. Expecting that to complete within this week.
Yes, very true.
Your timing is great. I don't think we have much more upside today and I don't think we close above last week's S&P high (3/17) as mentioned by Sundancer.
That is the nature of the beast with support and resistance. Reaching that point is onething. What happens there is another. Bouncing off a S/R or containment point is a reversal. Shooting through it, is a continuation of the existing trend. Just arriving at the S/R point, is only half the story.
Everyone must be shocked at the market's action today.
The daily indicators are showing a topping action. I am looking to enter short position very soon. Half way to a confirmed sell signal. Waiting for the remaining ones to catch up. Expecting that to complete within this week.
Nice call getting out of TZA.
Nice place to get out also — right under the pivot.
1167.04 is the other 3 min gap from friday
Still have all of positions. I will let you know if/when I ever sell them!
OUt of TZA at 7.29
$SPX 1163.29 gap filled from friday
I followed Carl this morning, in and out of TNA (over my own objections) as Carl bought and sold. Worked out well this time.