Boy are we off. Ok – I see 6 consecutive lower closes from Feb 13-23, 2009, no? From there, we moved up significantly the following day and then continued lower. Since Friday is opx, I better close out my May puts.
They seem to be dancing around the 111.77 level now. So if I understand this correctly, a close below 111.77 should produce more selling tomorrow, and a close above it, opens the door for a gap up.
This is frikin insane. 20% swings every three minutes.
Looks like consolidation but for what ?? Swing up or down tomorrow?
well i don't think i am going to have time to research that before the close so i am just going to have to hang on and pray we crash before opx!
my sequences are open to close, not close to previous close
Actually it would be good for us if we close higher than we opened. Talk about reverse psychology!
Boy are we off. Ok – I see 6 consecutive lower closes from Feb 13-23, 2009, no? From there, we moved up significantly the following day and then continued lower. Since Friday is opx, I better close out my May puts.
this would be the back bone you're looking for
http://www.flickr.com/photos/47091634@N04/46223…
I know. but something is giving the market a little back bone and it does not appear to be charts.
111.77 has no importance other than the SPY consecutive close sequence
Bears would like to see a close above 111.77
They seem to be dancing around the 111.77 level now. So if I understand this correctly, a close below 111.77 should produce more selling tomorrow, and a close above it, opens the door for a gap up.
Interesting, thanks.