The green TL has been a magnet for the SPY, the importance of it dates back to 2.20.2009 when SPY gapped below it initiating the final downward thrust of the bear mkt.
*If* $DJI closes above 10,927.45 it will have 6 consecutive higher closes than opens on the weekly. Frequency of more than 6 consecutive higher closes than opens on the $DJI weekly in the past 249 weeks 1 (terminated @ 7 (5.14.2007))
Ideal situation for the bears is to close today within spitting distance(5-7 pts.) of max contain on the 60 (1178-1179) which sets up a potential gap below max contain on the 60 come monday
That “Last Squeeze” just killed Mr. Whipple! Odds of a crash from here look at as good as me winning the lottery, especially since I play it.
why?
Closed out my puts.
Some how I get the feeling we are going to close right on that 1192.22 level. Leave everyone guessing over the weekend?
Interesting stats
http://2.bp.blogspot.com/_V7Pddp58Py0/S782yfvjK…
Knee is healed, running everyday buddy 😉
Here's a view of the same horse SPY is riding now back in March 09'
http://www.flickr.com/photos/47091634@N04/45059…
SPY is back riding it's favorite horse
http://www.flickr.com/photos/47091634@N04/45052…
The green TL has been a magnet for the SPY, the importance of it dates back to 2.20.2009 when SPY gapped below it initiating the final downward thrust of the bear mkt.
Here are some setups for the weekly print:
$SPX needs to close below 1192.22
*If* $DJI closes above 10,927.45 it will have 6 consecutive higher closes than opens on the weekly.
Frequency of more than 6 consecutive higher closes than opens on the $DJI weekly in the past 249 weeks
1 (terminated @ 7 (5.14.2007))
Ideal situation for the bears is to close today within spitting distance(5-7 pts.) of max contain on the 60 (1178-1179) which sets up a potential gap below max contain on the 60 come monday
SC,
Agreed. Your case for the options alternative is much stronger when compared to 100% investment in a 3x inverse ETF.