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.
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.
New post….
http://reddragonleo.com/2013/02/03/the-law-of-equilibrium-and-past-history-with-legatus-and-turns-in-the-stock-market/#disqus_thread