I’m looking for a quick move down Thursday morning to put in the low where I think the next move will be up strongly. I’d exit all shorts by today or in the morning tomorrow as the bulls are about ready to wake up.
It’s natural to expect a “pause” day here so we could chop like this all day. If we do get a rally going then I’d expect a peak in the noon to 2pm (EST) time period between 10-15 points higher. There’s a falling trendline of resistance that will likely hold the market back. It will be around 206.30 area SPY in that time zone.
If we don’t hit it today and instead just drop more then we might hit it Thursday morning on some fakeout bull move up. Hard too predict what SkyNet is going to do here. But tomorrow or Friday should put in the low for the week.
Any idea how much of a breakout?
We could chop around again today between 2 trendlines and then breakout Friday.
SPY Update: http://screencast.com/t/x6IEV352z
SPY Chart analysis: http://niftychartsandpatterns.blogspot.in/2015/03/spy-analysis-before-opening-bell_12.html
I’m looking for a quick move down Thursday morning to put in the low where I think the next move will be up strongly. I’d exit all shorts by today or in the morning tomorrow as the bulls are about ready to wake up.
It’s natural to expect a “pause” day here so we could chop like this all day. If we do get a rally going then I’d expect a peak in the noon to 2pm (EST) time period between 10-15 points higher. There’s a falling trendline of resistance that will likely hold the market back. It will be around 206.30 area SPY in that time zone.
If we don’t hit it today and instead just drop more then we might hit it Thursday morning on some fakeout bull move up. Hard too predict what SkyNet is going to do here. But tomorrow or Friday should put in the low for the week.
Off a little on the targets but it did follow the plan and pattern I was implying I think.
Red, your 3/1 post nailed it …. NICE!
I could see us drifting lower to 1990 on $SPX
I guess Lindsey Williams’ new source has just been misleading him so we sheep would be caught shorting the dollar. Good that I don’t play it… LOL
Dollar index on a historic bullish streak. https://twitter.com/WildcatTrader/status/575343415652548608