Sorry it took so long Shark… Looking at the weekly chart on FCX it looks like a double bottom to me. Maybe you will get your bounce to possibly the 50% fib level, but the chart looks bearish too me.
It’s stuck in down channel too, but it could go back up to about 52 to backtest the falling trendline from the 58 high and the 56 high. I don’t see what gap you are referring to, but anyway… a bounce to about 52 is the best I can see right now.
hey market maker banksters: you didn’t steal from me today. Suckers!
Well, this a shocker to see the market down this much on a Friday. There must have been a lot more call holders then put holders.
SPY Triangle and Channel: http://niftychartsandpatterns.blogspot.com/2011/05/spy-triangle-pattern.html
Yep… we knew this was coming. LOL. I say they pin the SPY between 134 and 135.
there’s the breakout
they sure do. probably will hold erx over the weekend.
thats perfect. my breakeven is 49.5. So ill take that and then plan to go long VIX (september calls) or just buy the dam shares
Gotta love those market makers… they aren’t predigest, as they like to take both bulls and bears money alike!
Sorry it took so long Shark… Looking at the weekly chart on FCX it looks like a double bottom to me. Maybe you will get your bounce to possibly the 50% fib level, but the chart looks bearish too me.
It’s stuck in down channel too, but it could go back up to about 52 to backtest the falling trendline from the 58 high and the 56 high. I don’t see what gap you are referring to, but anyway… a bounce to about 52 is the best I can see right now.
happy stop sweep friday