Here's some current setups: 1. SPX 195 min. chart has 7 consecutive higher closes putting it in the 93 percentile for at least 1 lower close, given the current gap the morning session should provide a lower close
2. Yesterday was the 3rd consecutive gap down on a thursday, so next thursday will either be a flat or gap up.
3. If this gap holds for the next hour and a half, it will be the 2nd consecutive friday gap down and since the payroll number is in 2 weeks, next friday will likely be a flat or gap up because if they were to gap the market down next friday, it would give away the payroll number given the 3 consecutive gap down setup
4. Daily max containment pt: yesterday was the second consecutive higher close over the max containment pt. which was the first time since the dancing with the max containment pt. began on 1/22/2010. SPY 110.12 area is of interest @ the open
I will talk about the monthly setup this weekend, but what I'll say know is that in order for a multi-month reversal to take place we'll need a monthly close over $SPX 1115.10
I said yesterday that we would bottom out when London opens at around 1090. We bottomed when London opened at 1092.
I hope I”m wrong I didn't take my own advice and listened to Hot Babe options thinking were going down to 1072. That's too far concidering the news, bought two put that are now underwater. hope it goes down a lot more
Hi RDL – like your style & honesty… Keep it coming…. I am still short (on MAR though) but if I bail today at around 107 I am deep red as well…. just dunno…. see you over at Anna's….
Hi RDL – like your style & honesty… Keep it coming…. I am still short (on MAR though) but if I bail today at around 107 I am deep red as well…. just dunno…. see you over at Anna's….
update 8:04 est
SPY currently trading 110.39
the de-leverage area established yesterday for the shortest term regulators is SPY 110.35, I posted this chart after the close yesterday
http://www.flickr.com/photos/47091634@N04/43683…
Here's some current setups:
1. SPX 195 min. chart has 7 consecutive higher closes putting it in the 93 percentile for at least 1 lower close, given the current gap the morning session should provide a lower close
2. Yesterday was the 3rd consecutive gap down on a thursday, so next thursday will either be a flat or gap up.
3. If this gap holds for the next hour and a half, it will be the 2nd consecutive friday gap down and since the payroll number is in 2 weeks, next friday will likely be a flat or gap up because if they were to gap the market down next friday, it would give away the payroll number given the 3 consecutive gap down setup
4. Daily max containment pt: yesterday was the second consecutive higher close over the max containment pt. which was the first time since the dancing with the max containment pt. began on 1/22/2010. SPY 110.12 area is of interest @ the open
I will talk about the monthly setup this weekend, but what I'll say know is that in order for a multi-month reversal to take place we'll need a monthly close over $SPX 1115.10
I said yesterday that we would bottom out when London opens at around 1090. We bottomed when London opened at 1092.
I hope I”m wrong I didn't take my own advice and listened to Hot Babe options thinking were going down to 1072. That's too far concidering the news, bought two put that are now underwater.
hope it goes down a lot more
Sounds about right. Futures are ramping and the European markets have been open for about an hour.
maybe the banks are fully loaded with shorts and want to maximize the profit from the slide? we are just small potatoes that hitch a ride alone…..
I told everyone that yes you jumped… but, your shirt got caught on the eaves trough.
I told everyone that yes you jumped… but, your shirt got caught on the eaves trough.
Hi RDL – like your style & honesty… Keep it coming…. I am still short (on MAR though) but if I bail today at around 107 I am deep red as well…. just dunno…. see you over at Anna's….
Hi RDL – like your style & honesty… Keep it coming…. I am still short (on MAR though) but if I bail today at around 107 I am deep red as well…. just dunno…. see you over at Anna's….
That was me jumping out the window earlier today… too funny! Thank goodness I fell in a pool.
http://saboyagraficos.blogspot.com/2010/02/ther…