We're at 24.03 right now. Hold tight, this might be a fake out. If the previous high of the day gets taken out for more than 15 minutes, it might be a real move.
I think you're a bit early. I'm waiting until I see this pennant finish, followed by short squeeze to consider any sort of short. 1092 is within the realm of possibility.
$VIX action is playing out pretty much as I expected. We seem to be painting out a pennant. As we head into close, I expect the MM's to engineer a nasty squeeze.
Sun, Thanks for the update
dreadwin,
I also think I'm a bit early. End of day gyrations are a big concern. Unless we go down 🙂
update 2:30 est
hourly just printed a slight violation per the earlier chart i posted
will need a close on the SPY below 108.06 by 3:30 otherwise the markets have left the station for good
a breach of 1085.89(SPX 3 min gap) will open the door to 1104 and a breach of 1104 will equal 1127.38 (60 min gap from 1/21/2010)
You were right on that call Dreadwin… I missed it, and got in early. But, I'm still holding short.
We're at 24.03 right now. Hold tight, this might be a fake out. If the previous high of the day gets taken out for more than 15 minutes, it might be a real move.
I think you're a bit early. I'm waiting until I see this pennant finish, followed by short squeeze to consider any sort of short. 1092 is within the realm of possibility.
Hey Leo.
$VIX action is playing out pretty much as I expected. We seem to be painting out a pennant. As we head into close, I expect the MM's to engineer a nasty squeeze.
Thanks Sun… I think we are at the top now.
Nice chart
for those with bearish positions the market should turn down here if we're going lower, fate will be determined shortly
http://www.flickr.com/photos/47091634@N04/43494…