The fake print of 1070.50 spx is there for a reason. It's where they plan to take the market too… but “when” is unknown? So the 1040 area is obvious to everyone, as it was major support… now resistance.
The 1070 area isn't obvious to everyone, but besides the fake print, there is also a gap around that area that needs to be filled. Look closely at the big red bar down on this 60 minute chart, that fell from the 1080 area on June 28th.
Today's low came within 41 cents of hitting the 100.72 spy fake print I have from a month ago, tagging 101.13 as an intraday low. Will that be close enough, or will we spike down tomorrow morning and retest, before going back higher into the close?
Worse yet we rally and just as bulls think they are in the clear we hit those lows next week sometime.
The fake print of 1070.50 spx is there for a reason. It's where they plan to take the market too… but “when” is unknown? So the 1040 area is obvious to everyone, as it was major support… now resistance.
The 1070 area isn't obvious to everyone, but besides the fake print, there is also a gap around that area that needs to be filled. Look closely at the big red bar down on this 60 minute chart, that fell from the 1080 area on June 28th.
http://stockcharts.com/def/servlet/Favorites.CS…
It left a gap… and it will likely be filled. When, is anyone's guess? But I think it will be there something next week. Here's the fake print too…
http://reddragonleo.com/wp-content/uploads/2010…
but i just can see 1040 and 1060.
I'm always guessing, but sometimes I get one right. 🙂
i guess so.
LOL… yes, I got of my spy shorts yesterday too… before the fall to 1010 today. So yeah, I feel your pain.
Red, Do you like horror stories? I had GOLD shorts at 98.5, got out yesterday…Today GOLD down $4. ):
Today's low came within 41 cents of hitting the 100.72 spy fake print I have from a month ago, tagging 101.13 as an intraday low. Will that be close enough, or will we spike down tomorrow morning and retest, before going back higher into the close?
Retail stocks, falling knives, finally some of them are having a first up day….That sector became way oversold.
Thx…I'll write it down and keep it for front…