There isn't likely to be any big rally today or tomorrow. They won't let the bulls out, just like they didn't let the bears out on the way up. This is going to be another blood bath for the bull.
1135.68 is last weeks $SPX close & one of many clues the operators left to the oncoming trainwreck this week
Per my Monday morning post: This morning I canceled an order to liquidate my short inventory @ gold weekly containment($SPX 1050's) & re-entered the order to liquidate short inventory @ teal weekly containment($SPX 990's)
The first Buy tier off the 1219.8 $SPX high is in the low 990's. 2nd 967.15 Final Tier is @ 875.01. Have enough capital to buy all the way down to 875.01.
If the formation holds true, we should not bounce at 1066 but have a little sideways movement. If we end the day at 1066, I hope to cover tomorrow in the termination range of 1008 to 1019.
Sundancer are you still using 1135 as your local min value or does that change daily? I would like to know if 967 is still the first tier buying point. Thanks!
So Sun – you are not expecting any bounces on the way ?
What are upside levels to keep an eye on … pls could you share …
111.77, 112.89, 114.3 are there any others that I am missing ?
Ben,
There isn't likely to be any big rally today or tomorrow. They won't let the bulls out, just like they didn't let the bears out on the way up. This is going to be another blood bath for the bull.
GLD is tanking in futures.
I take it you are positioning to buy calls at spy 990. How far out are you looking?
Looks like we will skip the “rally up” and go straight to crash.
1135.68 is last weeks $SPX close & one of many clues the operators left to the oncoming trainwreck this week
Per my Monday morning post:
This morning I canceled an order to liquidate my short inventory @ gold weekly containment($SPX 1050's) & re-entered the order to liquidate short inventory @ teal weekly containment($SPX 990's)
The first Buy tier off the 1219.8 $SPX high is in the low 990's.
2nd 967.15
Final Tier is @ 875.01.
Have enough capital to buy all the way down to 875.01.
I have a large buy order in the 990's.
twice in the last week i could have sold my puts at much greater value intraday.
After reading strauss he says big drop untill 10.30 or truncation at 10am then rally but big drop late day or friday am.
I may get out at 10.30 or 10
maybe then a rally to 1102 the 200 dma then down late today or tomorrow.
see jay strauss he says low aroun 10:30 or truncation at 10 then rally but big drop at close or am friday
see blog list
1066 is also the lower boundary of a long-term chart formation called an Ascending Broadening Wedge, details at Cobra's site:
http://stockcharts.com/def/servlet/Favorites.CS…
If the formation holds true, we should not bounce at 1066 but have a little sideways movement. If we end the day at 1066, I hope to cover tomorrow in the termination range of 1008 to 1019.
Sundancer are you still using 1135 as your local min value or does that change daily? I would like to know if 967 is still the first tier buying point. Thanks!
Thats what I'm seeing Jim