VIX has about 3 to 4 more dollars to go as well. 31 to 33 is target. Could be hit tomorrow or by end of today for all i know. Either way, more weakness to come in equities
The 15 minute chart is trying to go back up but the 30 minute chart is still pointing down and putting pressure on it. The 60 is undecided it seems, as it looks like it wants to go positive but can’t. We may go lower today, as this market is very weak now.
here are some charts from last night..u can still see the targets http://sharkmarketanalysis.blogspot.com/2011/03/shrk-bites-03162011.html
SPY Target 120.50 (be careful, this can hit in premarket or after hours… so lets not get too greedy lol) Im selling my shorts by tomorrow’s close. Will free up cash for FCX calls on friday.
QQQQs target= 52
*** THESE TARGETS MUST BE HIT BY FRIDAY 11am or as pink floyd song goes “RUN LIKE HELL”. lol ***
Again, next week should start 5th wave up on weekly /YM until June 5th. So next week its “Bad News Bears”
VIX has about 3 to 4 more dollars to go as well. 31 to 33 is target. Could be hit tomorrow or by end of today for all i know. Either way, more weakness to come in equities
The 15 minute chart is trying to go back up but the 30 minute chart is still pointing down and putting pressure on it. The 60 is undecided it seems, as it looks like it wants to go positive but can’t. We may go lower today, as this market is very weak now.
Red, can u take a look at the 15min SPY chart? Is that a 2nd wave up , about to start 3rd wave down?
If Shark is right I should make a nice profit on those too… they expire Friday so I may have to bail early… 🙁
Nice… thanks Dee. Looks like the direction is still down.
I love that word “distribution”!!!!
http://www.stocktiming.com/Wednesday-DailyMarketUpdate.htm
Goodluck Red and the rest of your dragons! =)
The SHARK sees blood and is hungry!
here are some charts from last night..u can still see the targets
http://sharkmarketanalysis.blogspot.com/2011/03/shrk-bites-03162011.html
SPY Target 120.50 (be careful, this can hit in premarket or after hours… so lets not get too greedy lol) Im selling my shorts by tomorrow’s close. Will free up cash for FCX calls on friday.
QQQQs target= 52
*** THESE TARGETS MUST BE HIT BY FRIDAY 11am or as pink floyd song goes “RUN LIKE HELL”. lol ***
Again, next week should start 5th wave up on weekly /YM until June 5th. So next week its “Bad News Bears”
It’s not dropping as much as the Dow and S&P… that’s for sure.