Guys, I just added some (10%) July SPY puts, just going by the vol.. pretty pathetic (i don't see anyone buying this rally) and lot of indicators pointing down. Will add more if it spikes up tomorrow. Going by all the comments and historical observation of last 2 months SPX should be around 1040-1050 by Monday, hopefully by tomorrow.
I'll explain it on better on tonight post, but basically the move from the first low of 1040 (May 25th?), to the first 1100 high (May 30th?) is the left side of the “M”.
Then, the move down from the 1100 high to the 1070 low was the middle of the “M”, and then back up to 1110 again, and finally down to 1040 (June 9th?) formed the right side of the “M”.
The move up from 1040 to today's high formed the left side of the “A”, and we are now looking for the right side of the “A” to form next… but it's usually twice as long as one of the sides of the “M”… meaning about 80-100 points down from here.
supurb Diablos, these are Fibinacci arcs and ?Gann fans or (but) Fibinnacci didn't have fans or did he?
Dow jones analysis after closing bell
http://niftychartsandpatterns.blogspot.com/2010…
the light blue lines are fibonacci arcs. has shown me when it breaks, correction over.
heres is current dia :: http://screencast.com/t/YTcxNWRj
stocks ripped first then crashed later.
i love you diablos : ) let's see what tomorrow brings.
My last hope too Diablos… LOL
what didn't cross. ??? 20dma is about 1089.50
Guys,
I just added some (10%) July SPY puts, just going by the vol.. pretty pathetic (i don't see anyone buying this rally) and lot of indicators pointing down. Will add more if it spikes up tomorrow. Going by all the comments and historical observation of last 2 months SPX should be around 1040-1050 by Monday, hopefully by tomorrow.
I'll explain it on better on tonight post, but basically the move from the first low of 1040 (May 25th?), to the first 1100 high (May 30th?) is the left side of the “M”.
Then, the move down from the 1100 high to the 1070 low was the middle of the “M”, and then back up to 1110 again, and finally down to 1040 (June 9th?) formed the right side of the “M”.
The move up from 1040 to today's high formed the left side of the “A”, and we are now looking for the right side of the “A” to form next… but it's usually twice as long as one of the sides of the “M”… meaning about 80-100 points down from here.
My last hope…it didn't cross.
http://screencast.com/t/N2VhZTkwNj