We had a low today of 115.97 spy, which isn't quite close enough to 115.00 to convince me that the market is ready for a 1-3 rally.
I'm kind of expecting some more selling into the close, on fear of bad jobs numbers tomorrow and Friday.
However, I think the numbers will be viewed positively and cause a short squeeze rally to happen. This should get us back up to 118.00-118.50 area by the close on Friday.
Then, I expect more bad news over the weekend, and panic selling on Monday and Tuesday. That's the ideal plan, but it never really works out that way.
Keeping things simple from a NUMBers perspective Problems in paradise for the bulls…. I posted this last week $SPX % setup 1219.8 = 16.78% 16.78/4.56 = -3.679% (1174.93) OR 16.78/1.245= -13.47% (1055.5)
We have firmly blown through the 1174.93, with our current low @ 1158.15
Here are the numbers from the current Bull mkt. #1 $SPX 3.6.2009 : 6.11.2009 = 43.41% $SPX 6.11.2009: 7.8.2009 = -9.09% 43.41/9.09 = 4.77 #2 $SPX 7.8.2009 : 9.23.2009 = 24.25% $SPX 9.23.2009: 10.2.2009 = -5.57% 24.25/5.57 = 4.35
Back on January the 22nd (Friday), when the market sold off hard, closing at the lows of the day, did the early morning action look similar to what we are seeing right now?
I was really expecting today to sell off hard again, closing near the low of the day, and then the government come out with so manipulated Initial Claims numbers tomorrow, causing a rally.
Then more manipulation on the Unemployment Rate on Friday, sparking another move up. Then of course, something big to happen over the weekend, causing the next leg down.
1096
200 MA on the daily
I'm confused? 1096 or 1196? And are you talking about the daily chart?
there will be a reaction off the Suckers'R'US MA (200 DMA) which will be @ 1096 on Friday
Almost a perfect 1 : 1
1219.8 : 1058.15 = -5.32%
1158.15 : 1096 = -5.36%
We had a low today of 115.97 spy, which isn't quite close enough to 115.00 to convince me that the market is ready for a 1-3 rally.
I'm kind of expecting some more selling into the close, on fear of bad jobs numbers tomorrow and Friday.
However, I think the numbers will be viewed positively and cause a short squeeze rally to happen. This should get us back up to 118.00-118.50 area by the close on Friday.
Then, I expect more bad news over the weekend, and panic selling on Monday and Tuesday. That's the ideal plan, but it never really works out that way.
Wishful thinking though…
thank you!
For those wandering what has kept a lid on the SPY yesterday afternoon & today this may help
http://www.flickr.com/photos/47091634@N04/45819…
yep. lets see if resistance holds. just reloaded puts but will cover if we move higher
Careful here we could have a nice bounce here. Close green and it up tomorrow. IMO
Keeping things simple from a NUMBers perspective
Problems in paradise for the bulls….
I posted this last week
$SPX % setup
1219.8 = 16.78%
16.78/4.56 = -3.679% (1174.93)
OR
16.78/1.245= -13.47% (1055.5)
We have firmly blown through the 1174.93, with our current low @ 1158.15
Here are the numbers from the current Bull mkt.
#1
$SPX 3.6.2009 : 6.11.2009 = 43.41%
$SPX 6.11.2009: 7.8.2009 = -9.09%
43.41/9.09 = 4.77
#2
$SPX 7.8.2009 : 9.23.2009 = 24.25%
$SPX 9.23.2009: 10.2.2009 = -5.57%
24.25/5.57 = 4.35
AVG. of 4.77 : 4.35 = 4.56
#3
$SPX 10.2.2009 : $SPX 10.21.2009 = 7.98%
$SPX 10.21.2009: $SPX 11.2.2009 = -6.54%
7.98/6.54 = 1.22
#4
$SPX 11.2.2009 : 1.19.2009 = 11.76%
$SPX 1.19.2009 : 2.5.2010 = -9.21%
11.76/9.21 = 1.27
AVG of 1.22 : 1.27 = 1.245
Back on January the 22nd (Friday), when the market sold off hard, closing at the lows of the day, did the early morning action look similar to what we are seeing right now?
I was really expecting today to sell off hard again, closing near the low of the day, and then the government come out with so manipulated Initial Claims numbers tomorrow, causing a rally.
Then more manipulation on the Unemployment Rate on Friday, sparking another move up. Then of course, something big to happen over the weekend, causing the next leg down.
That's what I'd do if I controlled the market…