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... sundancer390

if there is a gap up, it will be a big one
remember the gap window from 2/4/2010 is @ 109.03
once the futures start to penetrate that area it will be an avalanche of people trying to unwind short positons

there's a 4% chance of a gap down, but it would take a monster gap down to get below the controlling tendline on the daily, http://www.flickr.com/photos/47091634@N04/43517
until there is a gap below that trendline no selling will stick

... Red Dragon Leo

Are saying a gap up 13-17 points next Tuesday?

... bensjoyce

Hello sundancer390

Is the 390 for 390 million?

how to you come to such conclusions

... Earl of

In TZA at 10.08 after hours, starter

Holding over the long weekend

... sundancer390

SPY closed 108.38 @ 4:15 est futures closing

... sundancer390

slight violation of max containment @ the close
big blocks came across the last 15 seconds
odd close for a holiday weekend, a lot of it was algos co-relational to the 3 consecutive gap situation
13-17 pt SPX gap is possible for Tuesday
http://www.flickr.com/photos/47091634@N04/43522

... bensjoyce

this is from jaywiz (straus) blog on Red's blog list. someone names Riza or something sent this in:

Stock Trader's Almanac 2010: Has Wed & Thurs marked bullish , but bearish Friday.
Friday, the day before President's day weekend, S&P down 15 of last 18.

Monday: CLOSED for President's Day
Next week: bullish Tuesday,
However the Monday before Feb. Expiration the Dow has been down 4 of the last 5.

Wed, Thurs Friday: down into Expiration.
Dow has been down 7 of last 10 Fridays of Feb. Expiration.

... Red Dragon Leo

I agree with serge Monica… Rising wedge don't break UP! I'm staying short over the weekend. I think California will be the bad news over the weekend. I see Black Tuesday coming…

... monicadern

I guess I'll just have to take the 4% chance that that doesn't happen.

... Red Dragon Leo

Well that sucks… no up or down next week, just sideway trading…