Dont wanna be a bloghog but did some open interest research for May SPY.
The Upper Limit is a bit hard to call right now but SPY’s upper limit on expiration friday will be 135 to 138 and lower limit 135. Will do the research once a week until expiration week. Thanks!
Looking down the road… lots of people calling for a major crash this fall. i dont see it. i think bernanke will continue to do the same thing he has done all along… print, print, print, print. now its true he was printing during the 2008 crash but i dont know, just see “asset” prices moving higher and the dollar sliding. HOWEVER, if he doesnt do QE3 or a version of it, yes, i believe the market will tumble but again, hes so pollitical, why would he let the market tumble when he was put in by the prez himself… i believe the true crash in equities after the dollar crash and all that crap..will be in 2016, if we make it that long. I think it depends on interest rates, our credit rating, debt crisis, etc. Interest rates should hike, but wont. Credit rating should have already been downgraded, but hasnt. Debt crisis the worst here than anywhere else but still accumulating more. Hate to say it but the worst case scenario is looking to be the most likely.. 200 dollar oil, dollar crash, 300 dollar silver, 3000+ dollar gold. Cause govt has two options…default..it wont. or inflate the hell out of the currency…so far, Benny has chosen the latter.
well u have a valid point there lol, back in the day before 1971 especially…, it used to be legit! but like u said, technicals only work for the bulls! so there is only such thing as oversold!
Unfortunately during this time of the year, the daily bollinger bands get tighter and narrower meaning for a substantial move up, we must keep pushing on the bands. Vix looks like it might head lower now and from a 15min chart perspective, should start 3rd wave up soon. at least i hope?
136 is the weekly upper BB. Based on last years weekly 5th wave up, once we started inverse HnS, we rushed up to the upper BB, very temporary resistance, and from a weekly standpoint, rode the upper BB until the 5th wave ended May 5th. So yea, minimum 136 this week but i do see it facing some resistance and perhaps hitting 138 next week. SPY 30, 60, 4 hour and maybe even daily SPY will be overbought at 136 …gotta do some recycling anyways maybe this thursday or friday before heading to that FP at 138.86. I measured the inverse HnS right shoulder and should extend to 1377 SPX before the 4th wave down begins on daily chart. after that..we all know SPX will try its damnest to reach 1400..will probably correct right before we get there or shortly after… this summer, looking at least 10 percent correction..probably more to get the monthly RSI down within the channel.
Bought yesterday when we came down close to the 133.11 FP. as luck would have it, been up ever since :). i agree that we are eyeballing 136 this week and heading higher into may 5th. after that..i would expect a 4th wave down on the daily SPY…maybe lasting a week..then a final push higher going into early june..after that…LOOK OUT! Also…a low risk trade where u can buy stock and not options is the VIX at 13 and once the crash or stock correction hits in early summer, vix going to at least 30…easy way to double $$$.
3rd friday in may. did u just see that SPY FP? is that a Fake print or did some news just come out..daggone!
Do you mean for this Friday or the third Friday in May?
Dont wanna be a bloghog but did some open interest research for May SPY.
The Upper Limit is a bit hard to call right now but SPY’s upper limit on expiration friday will be 135 to 138 and lower limit 135. Will do the research once a week until expiration week. Thanks!
Looking down the road… lots of people calling for a major crash this fall. i dont see it. i think bernanke will continue to do the same thing he has done all along… print, print, print, print. now its true he was printing during the 2008 crash but i dont know, just see “asset” prices moving higher and the dollar sliding. HOWEVER, if he doesnt do QE3 or a version of it, yes, i believe the market will tumble but again, hes so pollitical, why would he let the market tumble when he was put in by the prez himself… i believe the true crash in equities after the dollar crash and all that crap..will be in 2016, if we make it that long. I think it depends on interest rates, our credit rating, debt crisis, etc. Interest rates should hike, but wont. Credit rating should have already been downgraded, but hasnt. Debt crisis the worst here than anywhere else but still accumulating more. Hate to say it but the worst case scenario is looking to be the most likely.. 200 dollar oil, dollar crash, 300 dollar silver, 3000+ dollar gold. Cause govt has two options…default..it wont. or inflate the hell out of the currency…so far, Benny has chosen the latter.
well u have a valid point there lol, back in the day before 1971 especially…, it used to be legit! but like u said, technicals only work for the bulls! so there is only such thing as oversold!
“overbought” what’s that? I’ve never heard of it!
Unfortunately during this time of the year, the daily bollinger bands get tighter and narrower meaning for a substantial move up, we must keep pushing on the bands. Vix looks like it might head lower now and from a 15min chart perspective, should start 3rd wave up soon. at least i hope?
136 is the weekly upper BB. Based on last years weekly 5th wave up, once we started inverse HnS, we rushed up to the upper BB, very temporary resistance, and from a weekly standpoint, rode the upper BB until the 5th wave ended May 5th. So yea, minimum 136 this week but i do see it facing some resistance and perhaps hitting 138 next week. SPY 30, 60, 4 hour and maybe even daily SPY will be overbought at 136 …gotta do some recycling anyways maybe this thursday or friday before heading to that FP at 138.86. I measured the inverse HnS right shoulder and should extend to 1377 SPX before the 4th wave down begins on daily chart. after that..we all know SPX will try its damnest to reach 1400..will probably correct right before we get there or shortly after… this summer, looking at least 10 percent correction..probably more to get the monthly RSI down within the channel.
Why stop at 136? I wouldn’t be surprised if we hit 138.86 by this Friday.
Bought yesterday when we came down close to the 133.11 FP. as luck would have it, been up ever since :). i agree that we are eyeballing 136 this week and heading higher into may 5th. after that..i would expect a 4th wave down on the daily SPY…maybe lasting a week..then a final push higher going into early june..after that…LOOK OUT! Also…a low risk trade where u can buy stock and not options is the VIX at 13 and once the crash or stock correction hits in early summer, vix going to at least 30…easy way to double $$$.