That's a real good sign CC… let's hope it plays out tomorrow. I'll have to see where the 60 minute chart ends up, as it could take several days to get back over bought again?
A gap fill at the 1120 spx area could happen during this wave 2 up. You know how they like to squeeze the bears hard before they really take her down.
You should know by now Jim how accurate these FP's are. We hit 107.60 spy on the opening gap down. That's pretty close to the 107.35 print from over a week ago.
We now go up for awhile, to make the wave 2 retracement. Look out for next week though as wave 3 of 3 is going to be ugly.
Seems hard to believe they could get this bounce going so quickly this am. combined news of GDP having to be restated to 1% from 2.4% 2nd quarter and jobs were pretty tough. But i guess profit taking rules.
Here are the pictures of the prints Akka seen gang…
http://reddragonleo.com/wp-content/uploads/2010…
http://reddragonleo.com/wp-content/uploads/2010…
Clearly we are going up to 110.61 spy before heading back down. When is anyone's guess? Could be by the end of the day or tomorrow?
Email it to me and I'll post it. red (at) reddragonleo (dot) com
shame on me, I don't know how to. I can email the image…
I see it on various timeframes from 5 min up to the 60 min.
I don't see that on my screen, can you post it?
Red,
I've seen (and still do on my screen): 110.615 spy
Anna just posted this link on her site gang… I think it deserves a repost here too:
http://www.youtube.com/watch?v=_XqQYjrUTiw
Gang, remember yesterday before the close I seen a 109.95 FP appear. That could be our closing price today?
That's a real good sign CC… let's hope it plays out tomorrow. I'll have to see where the 60 minute chart ends up, as it could take several days to get back over bought again?
A gap fill at the 1120 spx area could happen during this wave 2 up. You know how they like to squeeze the bears hard before they really take her down.
You should know by now Jim how accurate these FP's are. We hit 107.60 spy on the opening gap down. That's pretty close to the 107.35 print from over a week ago.
We now go up for awhile, to make the wave 2 retracement. Look out for next week though as wave 3 of 3 is going to be ugly.
Seems hard to believe they could get this bounce going so quickly this am. combined news of GDP having to be restated to 1% from 2.4% 2nd quarter and jobs were pretty tough. But i guess profit taking rules.