1006 SCARY

So I mentioned that number this morning as the pivot point and looked where we closed 1005.80 (1006). The point I made this morning is exactly what I have been saying we are just in a range =/- 10 points on the pivot point for most of August so far. Actually the S&P has been trading in a 30 point range for the last 2 weeks.

1006, 1006 very very important. Remember when we had that 775 number I believe.

I guess we will see next week-


MARKETJEDI

Bye Bye Oil

Technical at work again- failure to get over that last swing high last week the sell signal on that beast-

67.60 is the 61.8 Fibonacci

ANother bank failure!!

Well folks I had a feeling Colonial bank would be in trouble after I saw some report days ago that Bank of America was suing them for $1 Billion. I was like no way they can survive such a lawsuit and now the news just surfacing is Colonial is on the brink of failure.
This would be the largest bank failure this year

I thought everything was grand again???

(BEING SARCASTIC)

1006

Well 1006 proving to be a pivot point as was analyzed last week- Notice we are either selling off when we dip below that area or buying if we break but the break higher/lower is about 10 points either way.
In my opinion technically we either well off harder on a break of the lower bracket which would be 996 or we break higher on a break above the high bracket of 1015/16

Well will see soon enough- If you reading the blog you know where I think we should go!!!!