Probably a lot of trapped bears here as most didn’t see this coming. Should be easy to squeeze them and get up to a double top of 1574 spx by early next week (right after Legatus). Nice timing huh?
I have to say that rarely do they gap up after a one day sell off to allow bears to get short at and then proceed to sell off the rest of the day and make a lower low. When you see a gap up like this from only one day of selling it usually means it’s over with and back to rally mode.
Just started some things today… should gather steam in a few days and really pick up after the 13th.
Wish that penny stock moved up big like the SPX did today
APPLE Chart analysis: http://niftychartsandpatterns.blogspot.in/2013/02/apple-resistance-levels.html
SILVER Resistance levels: http://niftychartsandpatterns.blogspot.in/2013/02/silver-resistance-levels.html
Probably a lot of trapped bears here as most didn’t see this coming. Should be easy to squeeze them and get up to a double top of 1574 spx by early next week (right after Legatus). Nice timing huh?
I have to say that rarely do they gap up after a one day sell off to allow bears to get short at and then proceed to sell off the rest of the day and make a lower low. When you see a gap up like this from only one day of selling it usually means it’s over with and back to rally mode.
NFLX Chart update: http://niftychartsandpatterns.blogspot.in/2013/02/nflx-chart-update.html
ES Update: http://niftychartsandpatterns.blogspot.in/2013/02/es-chart-analysis.html
Thank you Red.
Vali
Red, it is the year of the SNAKE.