Red

a flat last 30 minutes means a 6-9 pt gap is coming

here's an update to a chart i posted earlier
you'll see a gap is how this dancing gets resolved
http://www.flickr.com/photos/47091634@N04/43497…

I'm inclined to agree with you Monica. Still holding… for now!

I will cover if we get to 1092

update 3:30 est

per my 2:30 update SPY 108.06 level was the line in the sand for the 3:30 print and actual SPY 3:30 print was 107.96 so market is still contained

6-9 pt SPX move is likely during the final 30 minutes

This Bear squeeze is really hurting my puts, but I'm hanging in here. That 1080 area is the top of the downward sloping channel on the daily charts, and that's what I'm looking for to hold back the bulls.

This rally is all retail traders buying on the Greece bailout news. No Big Institutions are participating in this rally. When will they come in? I don't know, but it needs to be soon…

Thanks, Dread I have not sold anything yet.

Sun, Thanks for the update

dreadwin,

I also think I'm a bit early. End of day gyrations are a big concern. Unless we go down 🙂

update 2:30 est
hourly just printed a slight violation per the earlier chart i posted

will need a close on the SPY below 108.06 by 3:30 otherwise the markets have left the station for good

a breach of 1085.89(SPX 3 min gap) will open the door to 1104 and a breach of 1104 will equal 1127.38 (60 min gap from 1/21/2010)

You were right on that call Dreadwin… I missed it, and got in early. But, I'm still holding short.