BINGO

Bingo on that 878 mentioned lunchtime and notice it stopped the downside. Hmm the big guys must be reading my blog !!!!!!

Now it would be very negative if we close below that 878 number-we will see in 20 minutes

S&P Futures

If 882 dont hold here after lunch I do expect us to test 878. Remember as noted before 875 is line in the sand for the short term bulls.

Hope you played

Hope you all played the note from the weekend post on my opinion on the big techies: GOOG, BIDU and AAPL being sells for the next few weeks.


GOOG -$8 today
BIDU -$6 today. look like it wants $250 soon.
AAPL -$1.50 today

Nasdaq Leading

Nasdaq is leading us lower which for me means lower prices in store later today. Also we have our usual turn around tuesday in play here. I just also noticed we are now below our daily pivot which is negative so watch those areas

Levels to watch

I will be watching two levels above to short this-
First level is 902 then 909.50. 909.50 is an excellent risk reward short judging from the present wave count.

Crude

Why did I take profits on crude yesterday and then said it would go lower. First of all it moved $8.50 which is a $8500 profit on one contract in 5 trading days, secondly I am not 100% confident on the wave count here. If we are logging a wave four which I definitely think we should see lower prices but why guess, just trade it.

MARKETJEDI