Looking back at 2007 they closed near the 1552 spx 2000 high on a Friday and then the following Monday they hit 1555.90 for the final high before a 133 point drop followed. Will history repeat? A close tomorrow in the 1570 range is possible and then a gap up open on Monday to clear the 1576.09 high by a few points…. then a sell off to follow.
Monday is the 8th, which is 0+4+0+8+2+0+1+3=18, and 1+8=9… which is the number of completion. Could we hit a few points over 1576.09 at the open? I think it’s looking more and more likely to happen. I’ll be patiently waiting…
interesting. If we get there, I’ll gladly short. Going to get some may 148 SPY puts if the new high is put in next week. Safe, and will still pay pretty nicely
poor shorts.. too soon. Have a feeling we hit 157. where I’ll be shorting, – 158 area on a ritual day
wait for 157 Red. and goog to 800 would be a nice play for next week
Quick 5 minute video update… http://screencast.com/t/UMUqqdiI
ES Support levels and Channel breakdown: http://niftychartsandpatterns.blogspot.in/2013/04/es-channel-breakdown-and-support-levels.html
Looking back at 2007 they closed near the 1552 spx 2000 high on a Friday and then the following Monday they hit 1555.90 for the final high before a 133 point drop followed. Will history repeat? A close tomorrow in the 1570 range is possible and then a gap up open on Monday to clear the 1576.09 high by a few points…. then a sell off to follow.
Monday is the 8th, which is 0+4+0+8+2+0+1+3=18, and 1+8=9… which is the number of completion. Could we hit a few points over 1576.09 at the open? I think it’s looking more and more likely to happen. I’ll be patiently waiting…
interesting. If we get there, I’ll gladly short. Going to get some may 148 SPY puts if the new high is put in next week. Safe, and will still pay pretty nicely
New FP on FAZ… http://screencast.com/t/XVfH1QBdo
The last time FAS was down that low was 10/03/2011 and the SPY had a intraday low of 103.97 (which puts the SPX around 1039.70)
Crude oil triangle update: http://niftychartsandpatterns.blogspot.in/2013/04/crude-oil-triangle-update.html
New FP on FAS… http://screencast.com/t/Ylg6CqJWZ1b