If I were a bull I’d exit all longs and go to cash. If I were a bear I’d wake up from hibernation, dust myself off, and prepare to attack. Keep in mind though that we could go a little higher yet as there is still the 138.86 FP from last year that is still lingering out there.
This could be a problem? It’s a new FP showing 137.30 spy at 8:54 am on 02/21/2012…
http://screencast.com/t/KczB6Ma4Vrsi
Can’t blame you… it’s time to start scaling in short.
Going in SHORT ALL THE WAY NOW. Cannot stand it any longer.
i thought washboard already changed his suit
If I were a bull I’d exit all longs and go to cash. If I were a bear I’d wake up from hibernation, dust myself off, and prepare to attack. Keep in mind though that we could go a little higher yet as there is still the 138.86 FP from last year that is still lingering out there.
Bingo!!! 137.05 thus far….
QQQ Update:
http://niftychartsandpatterns.blogspot.in/2012/02/qqq-support-and-resistance-levels.html
Interest timing for the FP on the SPY (most likely being hit today) and this New Moon…
http://spiraldates.com/?category_name=spiraldate-score-charts
I’d say NO, as they typically overshoot the target and rarely undershoot it.
136.82…is that close enough? Typically I’d say no. But who knows.