Red

    I love my calibrator.  Even though I quite often disagree with it.  It has prevented me from jumping in so far.

    I love my calibrator.  Even though I quite often disagree with it.  It has prevented me from jumping in so far.

    I love my calibrator.  Even though I quite often disagree with it.  It has prevented me from jumping in so far.

Here’s the “Cup and Handle” pattern I seen earlier…

http://reddragonleo.com/wp-content/uploads/temp.h2.jpg

Here’s the “Cup and Handle” pattern I seen earlier…

http://reddragonleo.com/wp-content/uploads/temp.h2.jpg

Here’s the “Cup and Handle” pattern I seen earlier…

http://reddragonleo.com/wp-content/uploads/temp.h2.jpg

Here’s the “Cup and Handle” pattern I seen earlier…

http://reddragonleo.com/wp-content/uploads/temp.h2.jpg

Don’t know why it attached that picture again? I didn’t do it?  Strange?

We have a “cup and handle” pattern formed on the 15 minute chart.  This indicates a breakout to the upside (which should quickly fail and fall back down) at some point today.  I suspect this will happen during the last hour of the day.  It’s also a bull flag on the 5 minute chart.

Since we are at a double top from the 8th, the bears are now getting short and putting stops just slightly above the 1204 area.  You can expect the market makers to pop it up higher and clear out those stops today before they let this market fall.

I don’t know what will be the reason, but I still see tomorrow down big.  Just because it’s opx tomorrow doesn’t mean that they (the market makers) haven’t squared up their positions today and therefore will allow it to tank tomorrow.