yeah for those with highly levered short positions I would probably lighten up around the 115.58 de-leverage area
This has all the markings of a 12 TD event (5.12.2010), the volume that showed up on the IWM & QQQQ yesterday was very damaging.
As i posted yesterday, big money is looking for a $VIX spike of 37-44.5, fading them generally is not the best idea. They have 100% figured out the ritual timing which is why their rolling around in their 100 ft yachts.
What kind of clues are we looking for today, in order to figure out if this is a 6 TD or 12 TD event? I do plan on selling out around the 115.00 area, but I'm still uncomfortable on going long.
All the other charts show a deeper correction, before they roll back up. The monthly put in a bearish topping tail candle pattern, the weekly is bearish, and the daily is just now pointing down, with no signs of rolling back up yet.
This all leads me to believe a 12 TD, just based on the charts. But, anything can change. Just wondering what you are expecting to see, or not see by the close today?
ah so we got our gap fill on AAPL
Here a $VIX daily containment Chart
http://www.flickr.com/photos/47091634@N04/45814…
gapped above gray, HOD right @ brown so far, brown contianment held the $VIX during 2.5.2010 lows, brown fails then Red-Yellow-Light Purple
Yeah that's definitely a possibility, the white TL that held the SPY during the Jan. High is right in that area
the teal line (Max Contain) is in the 114.60 area
Sundancer, it looks like from your chart, a logical place to stop would be the 1131 gap level.
It looks like that blueish line below is the next support level. That's more like 114 or something. Where does your 115.58 level come in at?
SPY Red Flag Alert
http://www.flickr.com/photos/47091634@N04/45807…
same setup as 1.22.2010, SPY gapped below 2 containment pts.
yeah for those with highly levered short positions I would probably lighten up around the 115.58 de-leverage area
This has all the markings of a 12 TD event (5.12.2010), the volume that showed up on the IWM & QQQQ yesterday was very damaging.
As i posted yesterday, big money is looking for a $VIX spike of 37-44.5, fading them generally is not the best idea. They have 100% figured out the ritual timing which is why their rolling around in their 100 ft yachts.
What kind of clues are we looking for today, in order to figure out if this is a 6 TD or 12 TD event? I do plan on selling out around the 115.00 area, but I'm still uncomfortable on going long.
All the other charts show a deeper correction, before they roll back up. The monthly put in a bearish topping tail candle pattern, the weekly is bearish, and the daily is just now pointing down, with no signs of rolling back up yet.
This all leads me to believe a 12 TD, just based on the charts. But, anything can change. Just wondering what you are expecting to see, or not see by the close today?
Carl’s morning call:
June S&P E-mini Futures: I estimate today's day session range will be 1156-1175. I think a swing to 1270 will begin soon.
1164.25–1185.50 actual yesterday (21.25 points)
1162-1175 range last night (13 points)
1156-1175 estimate for today (19 points)
1161 currently, so estimate is -5 to +14 from here (bullish)