Yeah, it was a real print Doug. Based on the strong breakout to the upside I guess? Regardless, it’s now a nice bottoming tail. So a top is near I think. Could be today but likely Thursday or Friday I think. That’s just because of the past stat on Wednesday rarely putting in the high or low for any given week.
Today being Wednesday means that the odds of the high for the week happening today are only 7%, so that tells us that there’s a 93% chance of a higher high Thursday or Friday. If you are a bear you need to know that today isn’t likely the best day to short… besides daytraders of course.
Yeah, it was a real print Doug. Based on the strong breakout to the upside I guess? Regardless, it’s now a nice bottoming tail. So a top is near I think. Could be today but likely Thursday or Friday I think. That’s just because of the past stat on Wednesday rarely putting in the high or low for any given week.
My Scottrade platform is showing it!
Yes. That would match the level from last October on weekly charts.
That would imply a drop in the SPX then… correct?
I also had a FP on $BPSPX down to 40 yesterday and its not there today. I didn’t get the screen shot though. Something is breaking down somewhere.
I’m now told that was a real print and not a fake one.
That’s one heck of a reversal candlestick which would indicate downside for market coming soon.
New VIX FP of 10.88 http://screencast.com/t/KFox0ZvvE
Today being Wednesday means that the odds of the high for the week happening today are only 7%, so that tells us that there’s a 93% chance of a higher high Thursday or Friday. If you are a bear you need to know that today isn’t likely the best day to short… besides daytraders of course.
Short term charts were oversold and I’m sure they used that good news to spark the rally this morning.