March S&P E-mini Futures: Today's range estimate is 1103-1116. The 1130 level is the short term target and I expect the market to reach 1200 over the next three months.
Note: 1103-1116 Todays estimate 1095-1110 Fridays estimate 1106 right now
I wish I could believe that, but if that were true, then they would simply Bankrupt about 5-6 big banks, and shut down the Federal Reserve. That would put so much money back into the system that we'd all feel rich.
I haven't been around since last thursday. We got our successful backtest of max support on the 60 min. The opening level to watch on the SPY is @ 111.00 as you'll notice the brick wall sitting there on the 60 min chart.
On friday the high of day on the $SPX was 1107.24 which also happened to coincide with a gap fill @ 1107.03.
Open $SPX gaps 1109.52 1127.38
If your a long term bear your patience is going to be tested for another month. I'll post some monthly charts later.
Yes Monica… it won't last forever. Time is running out for the Bulls. March isn't usually too friendly… especially when we are at a Top in the market. I'm treading lightly right now, after being burnt badly in February.
Carl just now;
March S&P E-mini Futures: Today's range estimate is 1103-1116. The 1130 level is the short term target and I expect the market to reach 1200 over the next three months.
Note:
1103-1116 Todays estimate
1095-1110 Fridays estimate
1106 right now
Owns one unit of /ES since last Friday
Thanks for the update Sundancer. It will be interesting to see if we break through the 1110 area.
I just wish they'd pass that worthless piece of crap healthcare bill Obama touting, and get it over with, then let this market fall.
I wish I could believe that, but if that were true, then they would simply Bankrupt about 5-6 big banks, and shut down the Federal Reserve. That would put so much money back into the system that we'd all feel rich.
I haven't watched the movie, but I'm sure you're right. God isn't on Goldmans' side.
SPY 60 Min Chart
http://www.flickr.com/photos/47091634@N04/43975…
I haven't been around since last thursday. We got our successful backtest of max support on the 60 min. The opening level to watch on the SPY is @ 111.00 as you'll notice the brick wall sitting there on the 60 min chart.
On friday the high of day on the $SPX was 1107.24 which also happened to coincide with a gap fill @ 1107.03.
Open $SPX gaps
1109.52
1127.38
If your a long term bear your patience is going to be tested for another month. I'll post some monthly charts later.
have you watched the move “Capitalism, a love story”? I don't think the God is on the capitalism bull's side..
Red,
Nice Post. I believe the government considers stock market upside to be a national security issue. Preservation of the nation, and all that.
They will do what they think is best. I need to hitch a ride with them.
Yes Monica… it won't last forever. Time is running out for the Bulls. March isn't usually too friendly… especially when we are at a Top in the market. I'm treading lightly right now, after being burnt badly in February.
Yes Red, it's frustrating but it can't last forever. In the meantime I guess maybe it would be better to stand on the sidelines.