There is still the possibility that we go down one more time to lure in more bears, but the first couple of hours are where it should happen (if it happens) as that’s where the most volume is.
The last hour is also important, and could give us the “B” wave down in this suspected ABC move up (to a 50% or 61.8% Fib. level, I’d estimate), with A taking most of the day, and C likely to happen tomorrow.
Maybe? Hard too tell as the actually level is so close to the opening price that the could be simply late fills. I think it said 130.01, which is just shy of the opening high of 130.33… so that FP is questionable?
you were right again…. a small bounce come monday morning!! my “expect the unexpected” warning was ‘off base’….. lets see how this transpires out. there seems to me so much ‘risk’ that is far from being priced into the market, which will need pricing in as events unfold.
There is still the possibility that we go down one more time to lure in more bears, but the first couple of hours are where it should happen (if it happens) as that’s where the most volume is.
The last hour is also important, and could give us the “B” wave down in this suspected ABC move up (to a 50% or 61.8% Fib. level, I’d estimate), with A taking most of the day, and C likely to happen tomorrow.
Maybe? Hard too tell as the actually level is so close to the opening price that the could be simply late fills. I think it said 130.01, which is just shy of the opening high of 130.33… so that FP is questionable?
Don’t worry, insane Ben is on it! At the slightest sign of weakness, shank the dollar!
There are those SPY prints from Friday, which you can still see. Unless, they are FP decoys?
the NYSE TICK is neutral (to positive) from what I see.
don’t fall for any open amateur hour stuff.
IMHO.
Looks like were losing positive momentum fast.
I wasn’t expecting a gap up, but yeah… I figured we’d go up today. I’m looking for 1288-1290 spx as a top for this wave 2 up. That’s my shorting area.
well red,
you were right again…. a small bounce come monday morning!! my “expect the unexpected” warning was ‘off base’….. lets see how this transpires out. there seems to me so much ‘risk’ that is far from being priced into the market, which will need pricing in as events unfold.
ES Chart: http://niftychartsandpatterns.blogspot.com/2011/01/s-500-futures-before-opening-bell_31.html
http://cache.gawker.com/assets/images/gizmodo/2008/10/Bat_Gallery_2.jpg