I’ve noticed that (barely) breaking price points or landing on price points have resulted in reversals, whereas closing the opposite direction, as though a reversal has started, results in a gap OVER resistance the next session. I think we have a downward headfake.
That said, I’m both long and short at the moment, using different instruments.
Edit: Last Friday, this was played perfectly…Bounced off resistance and closed down, then gapped back OVER on Monday.
Edit 2: The fact that it closed up today leads me to believe that any downward movement (if it occurs) at the beginning of the week will be a headfake due to weekly options expiration; ie a massive ramp-up at the end of the week again.
ditched shorts at close. didnt like getting thru 1220 on a closing basis. now see 1250 to 1280. low volume i see on this run up. but could run to 200 day though i doubt past 1250 or so. from failed moves comes furious moves
That is incredible Gerb. I am not a technical type of guy like Red. I go strictly on gut feelings. I wait for the inner promptings sort of speak. That arc is amazing how it will intersects at my original forecast. Good on you gerb.
We might have a “B” wave down on the 17th GG, but the real selling won’t happen until after the Legatus meeting ends on the 23rd. That New Moon on the 26th could be the start of it? I’ll be looking for the 127.07 spy FP to be hit around that time (as crazy as that sounds). No one believed me when I said we’d go up to 127.07… not even me! We’re not there yet, but it’s looking more and more likely that it will be hit before rolling over again.
Good luck Gerb. As I have been saying for some time, I still see the Dow at 11887 which means approx 1255 sp. I will wait for my stated figures before going short, weather that is monday or with in the next 10 days.
Does anybody know the symbol for sp 500 options.
Sp 100 is oex symbol What is the sp 500 option symbol?
I’ve noticed that (barely) breaking price points or landing on price points have resulted in reversals, whereas closing the opposite direction, as though a reversal has started, results in a gap OVER resistance the next session. I think we have a downward headfake.
That said, I’m both long and short at the moment, using different instruments.
Edit: Last Friday, this was played perfectly…Bounced off resistance and closed down, then gapped back OVER on Monday.
Edit 2: The fact that it closed up today leads me to believe that any downward movement (if it occurs) at the beginning of the week will be a headfake due to weekly options expiration; ie a massive ramp-up at the end of the week again.
Just my opinion…
Doesn’t really sound crazy any more, does it? BWAHAHHAA!!!
Buy that M-1 SOCOM (or other toys you’ve always wanted) and accessories while they’re still in stock!
ditched shorts at close. didnt like getting thru 1220 on a closing basis. now see 1250 to 1280. low volume i see on this run up. but could run to 200 day though i doubt past 1250 or so. from failed moves comes furious moves
http://stockcharts.com/h-sc/ui?s=$SPX&p=D&b=5&g=0&id=p53778575895
That is incredible Gerb. I am not a technical type of guy like Red. I go strictly on gut feelings. I wait for the inner promptings sort of speak. That arc is amazing how it will intersects at my original forecast. Good on you gerb.
We might have a “B” wave down on the 17th GG, but the real selling won’t happen until after the Legatus meeting ends on the 23rd. That New Moon on the 26th could be the start of it? I’ll be looking for the 127.07 spy FP to be hit around that time (as crazy as that sounds). No one believed me when I said we’d go up to 127.07… not even me! We’re not there yet, but it’s looking more and more likely that it will be hit before rolling over again.
At that point, a lot of good people (bears) are going to be ruined unfortunately.
Funny thing is, it took 3 times as long to go only 80% as far. Whatever the case, play both sides to ensure a profit.
1255, 1260 – sounds fantastic.
know why?
here:
http://4.bp.blogspot.com/-7mufSCS0-Wg/TpRzOiNQcHI/AAAAAAAAARs/XPpxMSUZyTE/s1600/headsup.png
Good luck Gerb. As I have been saying for some time, I still see the Dow at 11887 which means approx 1255 sp. I will wait for my stated figures before going short, weather that is monday or with in the next 10 days.