Let’s see what Bernanke says at 3:30pm tomorrow first. It feels like a lot of people are short right now and they need to squeeze them out before they crash I think. But inching into shorts this week seems wise as well.
Tomorrow is a 9 day… Good enough for me… Maybe you should inch in then red… 11 days are coin flips… can be a high, or an ugly day.. and the spx high was on the 18th…just my 2 cents. I’ll be sitting heavy on iwms as of tomorrow
Agreed, the other indexes seem to have been holding up better and should produce a bigger profit when they crash. IWM looks to be the better play then the SPY this go around.
Looks like traders didn’t care about the government shutdown. It should take most all week to get the charts overbought again. I’m still not sure if we have a higher high or a low higher but we are in bull mode for awhile now.
Let’s see what Bernanke says at 3:30pm tomorrow first. It feels like a lot of people are short right now and they need to squeeze them out before they crash I think. But inching into shorts this week seems wise as well.
Tomorrow is a 9 day… Good enough for me… Maybe you should inch in then red… 11 days are coin flips… can be a high, or an ugly day.. and the spx high was on the 18th…just my 2 cents. I’ll be sitting heavy on iwms as of tomorrow
Agreed, the other indexes seem to have been holding up better and should produce a bigger profit when they crash. IWM looks to be the better play then the SPY this go around.
It looks like the spx high is in…But I’d say the nasdaq/techs may give you a better R/R. Probably better off going with IWM this time around
The 4th is my thoughts on the high…
Rally is starting…Crash imminent
Apple chart update: http://niftychartsandpatterns.blogspot.in/2013/10/apple-chart-analysis.html
It’s always slow during the summer month Geccko… but you and I know something wicked is coming this month and next.
Looks like traders didn’t care about the government shutdown. It should take most all week to get the charts overbought again. I’m still not sure if we have a higher high or a low higher but we are in bull mode for awhile now.
Gold breakdown and support levels: http://niftychartsandpatterns.blogspot.in/2013/10/gold-breakdown-and-support-levels.html