Great post and insight. I would feel better if the whole health care debate was behind us for a meaningful drop. Obama doesn't need a negative like the market tanking when he's trying to muster support.
It looks like early next week we should hit the magic number of 1108, then let the sell off begin!
Listen, if you would like a place to make some posts on, I'd be happy to have you do a few here.
Of course this blog is new, as doesn't have much traffic, but it would be a great place for you to get your feet wet. If you're interested, send me an email (red at reddragonleo dot com) and I'll set you up with an admin account.
We'll work out the details in the email. If you're too busy, or just not interested, still keep commenting from time to time.
Red, Heres some more stuff you can use Gann used to draw his trendlines in the following manner. 1 pt per day ( a 1X1) 2 pts ” (a 2X1) 3 pts ” (3X1) 4 pts ” 4X1 8 pts ” 8X1 16 pts ” 16X1 so now 1100 is important because we are 10 days from the oct 2 low of 1020. 1020 + 80 is (8X1)= 1100 and the 4X1 is at 1060 the next important level. Try these trendlines on your SPX charts. So if this is a short term low today and the 19th-20th is going to be the high, Monday is 11 days from the oct 2 low and the 8X1 is at 1108 !! 8X11 = 88 + 1020 = 1108
It looks like early next week we should hit the magic number of 1108, then let the sell off begin!
Listen, if you would like a place to make some posts on, I'd be happy to have you do a few here.
Of course this blog is new, as doesn't have much traffic, but it would be a great place for you to get your feet wet. If you're interested, send me an email (red at reddragonleo dot com) and I'll set you up with an admin account.
We'll work out the details in the email. If you're too busy, or just not interested, still keep commenting from time to time.
Red, Heres some more stuff you can use Gann used to draw his trendlines in the following manner. 1 pt per day ( a 1X1) 2 pts ” (a 2X1) 3 pts ” (3X1) 4 pts ” 4X1 8 pts ” 8X1 16 pts ” 16X1 so now 1100 is important because we are 10 days from the oct 2 low of 1020. 1020 + 80 is (8X1)= 1100 and the 4X1 is at 1060 the next important level. Try these trendlines on your SPX charts. So if this is a short term low today and the 19th-20th is going to be the high, Monday is 11 days from the oct 2 low and the 8X1 is at 1108 !! 8X11 = 88 + 1020 = 1108
Agreed. It's just to obvious to get up to that 10,000 mark. If everyone is expecting, then the market should do the opposite. You know there has too be a ton of October calls that are expecting 10,000/1100 by this Friday.
If I were the market, I drop it to support at 1040 so I wouldn't have to pay all those calls. But, for all we know, they are the ones' with the calls, and want it at 10,000 by Friday.
It's extremely tough trying to figure out this market, with so much blatant manipulation in it.
I feel like this is the matrix, and I took the red pill while everyone else is high on the blue pill.
“Another Flat/ Doji day today is my guess. 1070-1078 range. Tomorrow, we have to see if we can break above 1080 or break below 1070 to 1050 level. Everyone is expecting a break above 1080 towards 1100 this week. hmm…..Can the market screw us by a quick sharp drop to 1050 enticing bears to pile thinking P3 has started and then cause a one final mf shortsqueeze to 1100”
The bulls time is coming… that's for sure! We are so close to a top it's scary. Futures are up more as I write this, but that all could change when JPM announces earnings in about an hour.
It's a mine field the bulls are walking through right now. Let's hope the step on one and blow off a leg… or two!
Great post and insight. I would feel better if the whole health care debate was behind us for a meaningful drop. Obama doesn't need a negative like the market tanking when he's trying to muster support.
Nice post RD!
Thanks,
It looks like early next week we should hit the magic number of 1108, then let the sell off begin!
Listen, if you would like a place to make some posts on, I'd be happy to have you do a few here.
Of course this blog is new, as doesn't have much traffic, but it would be a great place for you to get your feet wet. If you're interested, send me an email (red at reddragonleo dot com) and I'll set you up with an admin account.
We'll work out the details in the email. If you're too busy, or just not interested, still keep commenting from time to time.
Red
Red,
Heres some more stuff you can use
Gann used to draw his trendlines in the following manner.
1 pt per day ( a 1X1)
2 pts ” (a 2X1)
3 pts ” (3X1)
4 pts ” 4X1
8 pts ” 8X1
16 pts ” 16X1 so now 1100 is important because
we are 10 days from the oct 2 low of 1020. 1020 + 80 is (8X1)=
1100 and the 4X1 is at 1060 the next important level.
Try these trendlines on your SPX charts. So if this is a short term low today and the 19th-20th is going to be the high,
Monday is 11 days from the oct 2 low and the 8X1 is at 1108 !!
8X11 = 88 + 1020 = 1108
Thanks,
It looks like early next week we should hit the magic number of 1108, then let the sell off begin!
Listen, if you would like a place to make some posts on, I'd be happy to have you do a few here.
Of course this blog is new, as doesn't have much traffic, but it would be a great place for you to get your feet wet. If you're interested, send me an email (red at reddragonleo dot com) and I'll set you up with an admin account.
We'll work out the details in the email. If you're too busy, or just not interested, still keep commenting from time to time.
Red
Red,
Heres some more stuff you can use
Gann used to draw his trendlines in the following manner.
1 pt per day ( a 1X1)
2 pts ” (a 2X1)
3 pts ” (3X1)
4 pts ” 4X1
8 pts ” 8X1
16 pts ” 16X1 so now 1100 is important because
we are 10 days from the oct 2 low of 1020. 1020 + 80 is (8X1)=
1100 and the 4X1 is at 1060 the next important level.
Try these trendlines on your SPX charts. So if this is a short term low today and the 19th-20th is going to be the high,
Monday is 11 days from the oct 2 low and the 8X1 is at 1108 !!
8X11 = 88 + 1020 = 1108
Tutues?
Agreed. It's just to obvious to get up to that 10,000 mark. If everyone is expecting, then the market should do the opposite. You know there has too be a ton of October calls that are expecting 10,000/1100 by this Friday.
If I were the market, I drop it to support at 1040 so I wouldn't have to pay all those calls. But, for all we know, they are the ones' with the calls, and want it at 10,000 by Friday.
It's extremely tough trying to figure out this market, with so much blatant manipulation in it.
I feel like this is the matrix, and I took the red pill while everyone else is high on the blue pill.
JPM earnings 0.82 vs consensus 0.52 cents.
This is what I wrote yesterday pre-market-
“Another Flat/ Doji day today is my guess. 1070-1078 range. Tomorrow, we have to see if we can break above 1080 or break below 1070 to 1050 level. Everyone is expecting a break above 1080 towards 1100 this week. hmm…..Can the market screw us by a quick sharp drop to 1050 enticing bears to pile thinking P3 has started and then cause a one final mf shortsqueeze to 1100”
GL
The bulls time is coming… that's for sure! We are so close to a top it's scary. Futures are up more as I write this, but that all could change when JPM announces earnings in about an hour.
It's a mine field the bulls are walking through right now. Let's hope the step on one and blow off a leg… or two!