I’m looking for a lower low this morning and a reversal back up this afternoon. Since we didn’t gap down but look to open about flat, I think the down move will be limited. The 1400 SPX level is something the bulls will defend hard, as well as DOW 13,000… so a slight “fakeout” pierce of either of those is possible, and then a reversal.
I expect the low to be “the low” going into next week. It’s opx next week so they usually go up into that period and today’s low won’t be seen again for awhile I’m afraid. But, let’s just play it one day at a time.
IWM Weekend update: http://niftychartsandpatterns.blogspot.in/2012/12/iwm-weekend-update_16.html
Dow Jones analysis after close: http://niftychartsandpatterns.blogspot.in/2012/12/dow-jones-analysis-after-closing-bell_15.html
EURUSD Chart update: http://niftychartsandpatterns.blogspot.in/2012/12/eurusd-chart-update_15.html
New FP on Apple of 514.11 at 1:47pm… you know it’s real as the 4+7=11, which is then 1:11
Very sad, very sad…
Change of subject:
CONN…..OH MAN….NO
In my thoughts and prays to say the least!
QQQ Chart update: http://niftychartsandpatterns.blogspot.in/2012/12/qqq-intraday-update.html
The SPY hit 142.11, just 3 cents from the FP yesterday at 142.08… I’m out of my shorts now.
Morning update:
I’m looking for a lower low this morning and a reversal back up this afternoon. Since we didn’t gap down but look to open about flat, I think the down move will be limited. The 1400 SPX level is something the bulls will defend hard, as well as DOW 13,000… so a slight “fakeout” pierce of either of those is possible, and then a reversal.
I expect the low to be “the low” going into next week. It’s opx next week so they usually go up into that period and today’s low won’t be seen again for awhile I’m afraid. But, let’s just play it one day at a time.
APPLE Support levels: http://niftychartsandpatterns.blogspot.in/2012/12/apple-support-levels-month-and-week.html