round and round we go, you'll notice the operators stopped the $SPX 2 pts. shy of the 1127.38 gap
now this morning I alluded to the $SPX index gap @ the opening which is now very important because coming into today the $SPX had 5 consecutive higher closes than opens. The operators closed the $SPX index below it's open fulfilling it's consecutive close sequence.
Looking ahead to tomorrow: we've had 4 consecutive gap downs on Thursdays so that charade is getting exhausted and with the payrolls friday a flat opening seems most likely.
News doesn't matter. Everyone is banking on that news. 41 day cycle top Monday. We top Tuesday or Wednesday. I'm hanging on. We may have a down day tomorrow but then we'll have an up day Monday. Choppy till we top.
I think closing shorts now is essentially buying near the interim term top. I hope I'm right about that.
Dread – can u share a chart link for the same $RUT:$RVX ….
for those wandering why there is so much dancing in the SPY 112.72 area, this maybe of interest to you
http://www.flickr.com/photos/47091634@N04/44050…
if this trendline doesn't produce a reaction very soon, a large uni-directional move will ensue over the TL
round and round we go, you'll notice the operators stopped the $SPX 2 pts. shy of the 1127.38 gap
now this morning I alluded to the $SPX index gap @ the opening which is now very important because coming into today the $SPX had 5 consecutive higher closes than opens. The operators closed the $SPX index below it's open fulfilling it's consecutive close sequence.
Looking ahead to tomorrow: we've had 4 consecutive gap downs on Thursdays so that charade is getting exhausted and with the payrolls friday a flat opening seems most likely.
News doesn't matter. Everyone is banking on that news. 41 day cycle top Monday. We top Tuesday or Wednesday. I'm hanging on. We may have a down day tomorrow but then we'll have an up day Monday. Choppy till we top.
Carl at days end:
1116 – 1130 today's range estimate.
1115.50 – 1125 actual range for today
Carl’s trades
In 1119 out 1116 (loss of 3 in one day)
In 1098.50 last Friday out at 1119 today (gain of 20.5 over 4 day period)
Grade: A
Carl sold other unit at 1119.00 – now flat
May as well. TZA victories are hard to come by lately 🙂
Wild guess: there is some concern about all the economic news coming out tomorrow.
Another wild guess: it's a legitimate concern 🙂
Should I consider that a victory for owners of TZA. LOL!!
Carl sold one unit at 1116.00
In at 1119, out at 1116 (loss of 3)