Plays

I have a couple of plays setting up but geez this wave 4 is killing me to get them accurately. It is chop fest out there and I dont want to misguide persons who might be following the plays here. So it would be prudent of me to wait till this chopfest is over and give the huge winners we are known for.

Just a little patience.


MARKETJEDI

856/857

Just finished doing some homework and have come to the conclusion 856/857 area must act as resistance tomorrow for the bears are we will head towards that 875 area. On the downside 838/839 is very important to the bulls if they close above that tomorrow they will end the week neutral and not giving the bears the edge.
So there you have your upper and lower area to watch for tomorrow.

Thursday

Recap - Another day the bulls have given the bears something to think about. It is very easy for the bears to think we should go down but as I noted there is also alot of reasons for the bulls to trade this market NOT invest. The thing I see is alot of small caps rallying and this is usually a sign of the end is close BUT the battle lines seem to be on the bulls side no matter what the charts and signals say.
I expect the longer they take to give up the weak bears might throw in the towel and give us a push up that WILL be the final push up, we call this a TRAP among traders.
I definitely think this is what will play out but we will see soon enough.
For tomorrow we should be hearing some preliminary news on the stress test and that might lead us early on. I have no idea how tomorrow will go so it is a play as we go here.

MARKETJEDI