Actually I’m 50% short from Friday, so if it tanks from here I’ll still be happy. But it would bug me to see the market so close to that FP and not fill it.
It’s a major print, and this would be a first for one of such importance to “not” be filled. Once the selling begins, I don’t think we’ll see the market this high again for a long time.
So, will they push this out until next week to fill the FP, or will they forget about it and just press the boom button on the market?
Not yet, but the bull has been cut now and bleeding is starting. It’s only a flesh wound though. Once support around 1195 is hit, we should expect a bounce into the rest of the day.
As for tomorrow… who knows? If some horrible event happens, don’t worry about support as the market will cut through them like a knife in hot butter.
Thanks!
Yes, and that level also has a rising trendline of support and a horizontal trendline of support that will likely force a bounce on the market.
Actually I’m 50% short from Friday, so if it tanks from here I’ll still be happy. But it would bug me to see the market so close to that FP and not fill it.
It’s a major print, and this would be a first for one of such importance to “not” be filled. Once the selling begins, I don’t think we’ll see the market this high again for a long time.
So, will they push this out until next week to fill the FP, or will they forget about it and just press the boom button on the market?
Leo
SPY has started to fill the GAP
http://niftychartsandpatterns.blogspot.com/2010/11/double-top-of-spy.html
Yes, somewhere around the 1195 level is horizontal support and a rising trendline support… so we should see a bounce there.
so, the question is, is it door #1 : http://screencast.com/t/rQa2QnoR or door #2 : http://screencast.com/t/LpjIpbvbXocb I know which one Red likes lol
i see a bounce coming at 1193 ish
I agree that 1200 might be tough to break, but a pierce through it to fill the gap around 1197 should happen. Then a bounce into the rest of the day.
Not yet, but the bull has been cut now and bleeding is starting. It’s only a flesh wound though. Once support around 1195 is hit, we should expect a bounce into the rest of the day.
As for tomorrow… who knows? If some horrible event happens, don’t worry about support as the market will cut through them like a knife in hot butter.
so is the blood bath starting ?