Hmmm… it certainly could pop and drop tomorrow. It’s not acting like it wants to hit the FP today, so hopefully it will do so tomorrow. However, if it keeps dropping into the close today and breaks down below 10 points or more then I’d have to think that it would continue down into Friday and put off the FP high until next week.
Yes, we could still hit it today… or tomorrow morning at the open I’d assume? It would be nice to do it today and then gap down tomorrow but the bears never usually get that lucky. If we do get today though I’ll be taking another put spread on it as this bull is on his last breath.
I get the feeling that they will not go up to hit the FP (http://reddragonleo.com/wp-content/uploads/spy-fp-with-final-high-for-2013-showing-164-30.png) until next week. If we close down today by 10 points or more (on the SPX) then we could continue into Friday morning to put in the low. Then back up next week to hit the FP and end this bull market for this year, leaving only one more final high around 1700 SPX set for February 2014 around the Legatus meeting set for then. After that we should start the 1,000 point drop into the end of the year.
And what if it does? I think they’ll hold 15,000 but still close red.
Dow cannot have a negative close today
Hmmm… it certainly could pop and drop tomorrow. It’s not acting like it wants to hit the FP today, so hopefully it will do so tomorrow. However, if it keeps dropping into the close today and breaks down below 10 points or more then I’d have to think that it would continue down into Friday and put off the FP high until next week.
FACEBOOK Support and Resistance levels: http://niftychartsandpatterns.blogspot.in/2013/05/facebook-support-and-resistance-levels.html
pop and drop tomorrow?
All aboard the bull train…
http://reddragonleo.com/wp-content/uploads/bull-train-overloaded.jpg
Yes, we could still hit it today… or tomorrow morning at the open I’d assume? It would be nice to do it today and then gap down tomorrow but the bears never usually get that lucky. If we do get today though I’ll be taking another put spread on it as this bull is on his last breath.
not much movement, we could still hit it today
I get the feeling that they will not go up to hit the FP (http://reddragonleo.com/wp-content/uploads/spy-fp-with-final-high-for-2013-showing-164-30.png) until next week. If we close down today by 10 points or more (on the SPX) then we could continue into Friday morning to put in the low. Then back up next week to hit the FP and end this bull market for this year, leaving only one more final high around 1700 SPX set for February 2014 around the Legatus meeting set for then. After that we should start the 1,000 point drop into the end of the year.
chartwise
http://www.stocktiming.com/Wednesday-DailyMarketUpdate.htm