I see a fake print in the afterhours of 120.38, man I hope that one doesn't play out… at least until we hit that 115.00 area first. How much damage was done to the bulls today?
I'm so programed to expect a bounce, that it makes me nervous being short again. But, I think we will open flat and continue selling more tomorrow, without much of a bounce at all.
That's just based on looking at the previous sell off, and how it hit the 50ema, and then opened the next day flat and continued selling. I'm looking for more of the same.
This bull looks like he's ready to fall over and die! LOL. Some how I don't see any rallying back up tomorrow, as they had their chance today. I do believe we have more selling coming.
Sundancer, is that 115.58 tick from 3-24 also meet with your trendline support?
I see a fake print in the afterhours of 120.38, man I hope that one doesn't play out… at least until we hit that 115.00 area first. How much damage was done to the bulls today?
I'm so programed to expect a bounce, that it makes me nervous being short again. But, I think we will open flat and continue selling more tomorrow, without much of a bounce at all.
That's just based on looking at the previous sell off, and how it hit the 50ema, and then opened the next day flat and continued selling. I'm looking for more of the same.
HOD on $VIX =25.70
I will be forced to lighten up some inventory should the $VIX penetrate 31.51 area
I'll post a chart tomorrow showing the TL which correlates with the DIA tick of 118.16
Carl at day’s end:
1178-1192 estimate for today (14 points)
1164.25–1185.50 actual today (21.25 points)
Carl didn’t anticipate the drop today.
Trades: In /ES at 1197.50 from yesterday, sold it today at 1190 (loss of 7.50)
Grade: D (lost some money)
SPY sequence 2 of TL's
http://www.flickr.com/photos/47091634@N04/45788…
the 7 pt. reaction @ the end of the day occurred with the hit of the red TL
The SPY 115.58 tick is going to correlate with the Blue TL which was @ 115.45 today
Gap on all indexes qqqq, spy dia spy spx but no gap on vix??? humm.
it's below them, so it will have to be an intra-day spike below the TL's if it's going to be a terminal pt.
This bull looks like he's ready to fall over and die! LOL. Some how I don't see any rallying back up tomorrow, as they had their chance today. I do believe we have more selling coming.
Sundancer, is that 115.58 tick from 3-24 also meet with your trendline support?
I'm short again, with a 116/108 put spread…
Indeed…let the fun begin…