I see – Nevermind my interpretation. I just realized that if my interpretation worked, it would have to be 26 days from Feb. 5th to make new lows and that didn't happen.
So the last two low points of the bear market had 102 days in between them, and the last 2 high points of the so called “bull” market had 51 points between them.
Not sure I get this. My interpretation is that since it took around 102 days to get to new lows starting in 2008, and 51 days to get to new highs (half of 102), it will take only 26 days (1/2 of 51) to get to lows below those last seen on Feb 5th?
SPY has very little room to move down on the 60 min as max contain is @ 113.41 now, consecutive closes below max contain on the 60 will lead to a trip down the 111.40 – 110.34 area where there is a knot of containment points
June S&P E-mini Futures: Today's range estimate for the June contract is 1136 – 1148. I think a drop into the 1120-30 zone is imminent. Looking further ahead, look for the ES to reach the 1200 level by the end of May.
1142 -1150.25 actual yesterday (7.75 points) 1140.25 (last night's low) 1136-1148 estimate (June Expiry) for today (12 points) 1143.75 currently, so estimate is -5.75 to +4.25 from here
I see – Nevermind my interpretation. I just realized that if my interpretation worked, it would have to be 26 days from Feb. 5th to make new lows and that didn't happen.
So the last two low points of the bear market had 102 days in between them, and the last 2 high points of the so called “bull” market had 51 points between them.
that's one way to look at it,
I'm interested in the relationship of the terminal 2 points of the bear mkt : bull mkt
Not sure I get this. My interpretation is that since it took around 102 days to get to new lows starting in 2008, and 51 days to get to new highs (half of 102), it will take only 26 days (1/2 of 51) to get to lows below those last seen on Feb 5th?
$SPX terminal 2
11/21/2008 : 03/06/2009 : 3 month – 13 days
01/19/2010 : 03/12/2010 : 1 month – 21 days
Gracias 🙂
SPY 60 min setup
http://www.flickr.com/photos/47091634@N04/44354…
SPY has very little room to move down on the 60 min as max contain is @ 113.41 now, consecutive closes below max contain on the 60 will lead to a trip down the 111.40 – 110.34 area where there is a knot of containment points
Man, GS looks like a great short. Wish I had the funds 🙁
Good Morning, Gcocks.
I haven't added yet, but I still have the TZA I bought last Friday.
Earl, tZA above PP, Are you in?
Carl just now:
June S&P E-mini Futures: Today's range estimate for the June contract is 1136 – 1148. I think a drop into the 1120-30 zone is imminent. Looking further ahead, look for the ES to reach the 1200 level by the end of May.
1142 -1150.25 actual yesterday (7.75 points)
1140.25 (last night's low)
1136-1148 estimate (June Expiry) for today (12 points)
1143.75 currently, so estimate is -5.75 to +4.25 from here