Considering how close they are to filling the gap, they might not pullback any and just keep on pushing up until they hit it? The SPY looks to have filled it’s gap now…. next is the SPX around 1186 or so.
We should drop back to about 117.50 spy area to reset the overbought short term charts, and then push on higher tomorrow to 1185-1187… assuming they still plan to take it there? Also, there is still a chance (slim) that they go up to about 1200 spx before finally tanking.
I’m not sure if you are going to get your pullback to GL? Maybe? We’ll see? But I also think we’ll go up to that 1185-1187 area before tanking. I don’t know if their hit 1200 or not… possibly, but seems unlikely now.
Sold out 1176, will wait for a retrace in the markets to go long. I am not convinced that the markets want to take the crash route yet. I am all in cash.
Well GG, they are certainly trying my patience too, but I’m hanging on for a little longer. I suspect that we’ll see our 1185-1187 tomorrow though, as today’s tape is very control (by the bulls of course)
Considering how close they are to filling the gap, they might not pullback any and just keep on pushing up until they hit it? The SPY looks to have filled it’s gap now…. next is the SPX around 1186 or so.
I will not be taking any chances. I am going to start layering the shorts if that gap is filled. 1/2 position. Than take it from there.
We should drop back to about 117.50 spy area to reset the overbought short term charts, and then push on higher tomorrow to 1185-1187… assuming they still plan to take it there? Also, there is still a chance (slim) that they go up to about 1200 spx before finally tanking.
Thats o kay, it feels good to be in cash. I hope it does fill the gap. I would like to start layering in some shorts. That will be the tricky part.
I’m not sure if you are going to get your pullback to GL? Maybe? We’ll see? But I also think we’ll go up to that 1185-1187 area before tanking. I don’t know if their hit 1200 or not… possibly, but seems unlikely now.
Sold out 1176, will wait for a retrace in the markets to go long. I am not convinced that the markets want to take the crash route yet. I am all in cash.
After the next two weeks, you will certainly need to. LOL
Well GG, they are certainly trying my patience too, but I’m hanging on for a little longer. I suspect that we’ll see our 1185-1187 tomorrow though, as today’s tape is very control (by the bulls of course)
LOL…. just relax, no collapse today! But check on Friday 😉
rats.
I was hoping today wasn’t the typical WhipSaw OpX Wednesday.
SPY currently 117.84