What the Fed says will be the key. I'm not sure yet if we go on down to 1020, or rally up to just under 1080. This 1040 area is in the middle and I don't want to pick the wrong direction. So, I'm waiting on the sidelines for now.
I think you are right about the 9-10th, as that could be a turn date. Up till then, and rollover… or down some more first and then rally? That is the question…
I'm a little hesitant to go long or short just yet, as this could go either way? It's stuck in the middle between great support at 998-1000, and huge resistance at 1100.
It should pick a direction after the Fed talks on Wednesday. We'll see…
Yes, that's very true. Futures are down this morning 10 points to 1028 area. So, we could go down first, and then rally on the Fed's. Hard to say, but I'm not taking an long position until 998-1000 is hit.
It's much safer to wait the rally back up and only take short positions, as the trend is now down. That 1073-1076 area is about the highest I can see the market going. But, it first needs to find some support, and I believe that to be the 998-1000 mark.
HI Red, Thanks for your comments and your blog My scientific indexes show a low at close today possible lower open at 9:45, but UP from there to mid day on 6th for next turn lower into 9-10 SUn 90 jupiter See HELGE site- intraday cycles and scroll down to raw numbers chart. Jay
Yes, that's very true. Futures are down this morning 10 points to 1028 area. So, we could go down first, and then rally on the Fed's. Hard to say, but I'm not taking an long position until 998-1000 is hit.
It's much safer to wait the rally back up and only take short positions, as the trend is now down. That 1073-1076 area is about the highest I can see the market going. But, it first needs to find some support, and I believe that to be the 998-1000 mark.
Great post Red, 🙂
What the Fed says will be the key. I'm not sure yet if we go on down to 1020, or rally up to just under 1080. This 1040 area is in the middle and I don't want to pick the wrong direction. So, I'm waiting on the sidelines for now.
I think you are right about the 9-10th, as that could be a turn date. Up till then, and rollover… or down some more first and then rally? That is the question…
Red
I'm a little hesitant to go long or short just yet, as this could go either way? It's stuck in the middle between great support at 998-1000, and huge resistance at 1100.
It should pick a direction after the Fed talks on Wednesday. We'll see…
Red
Yes, that's very true. Futures are down this morning 10 points to 1028 area. So, we could go down first, and then rally on the Fed's. Hard to say, but I'm not taking an long position until 998-1000 is hit.
It's much safer to wait the rally back up and only take short positions, as the trend is now down. That 1073-1076 area is about the highest I can see the market going. But, it first needs to find some support, and I believe that to be the 998-1000 mark.
Red
Hi sweetie
I went long at LOD today with 104 nov Spy calls, expecting a rally this week to around 1060
HI Red,
Thanks for your comments
and your blog
My scientific indexes show a low at close today
possible lower open at 9:45, but UP from there to mid day on 6th for next turn lower into 9-10 SUn 90 jupiter
See HELGE site- intraday cycles and scroll down to raw numbers chart.
Jay
Yes, that's very true. Futures are down this morning 10 points to 1028 area. So, we could go down first, and then rally on the Fed's. Hard to say, but I'm not taking an long position until 998-1000 is hit.
It's much safer to wait the rally back up and only take short positions, as the trend is now down. That 1073-1076 area is about the highest I can see the market going. But, it first needs to find some support, and I believe that to be the 998-1000 mark.
Red
Or may be short at close of Fed day
Yeah, I'm leaning toward Scenario ONE or TWO for the high around 1073-1076, but that might not come until after we hit the 998-1000 area first.
So, the 1050-1060 is more likely to be the high… just before the Fed's talk, and then more selling until we hit that 998-1000 area.
Red
Sounds good I think we go down tonight on futes and into 10am tommorrow then the big up starts for the monster rally wed…