1311- Note

Note 1311 was the lows on the futures today. Notice we bounce as this is an important projection in my work. It was a low risk set up to by some futures at that point with a tight stop if you were a future day trader.
Going to be doing some work this weekend if I can get over this mild allergy attack and update monday on some set ups I see.

RVBD looks nice, I got one I have been waiting on...

importance of 1311

If we break this number on a closing basis, I expect to see 1284 next week on the downside

Pattern

Not a nice pattern if we get down to 1311 area on the Futures. It is VERY difficult to trade here as you can see from the last couple of days, everything turns on a dime and therefore you MUST look at longer term patterns to play which in itself is difficult if you don't have huge capital. That being said this pattern looks like a double top but I wont be quick to say it is yet till be put in a few more closings.

Have a great weekend

Crude

I think Crude will head higher BUT in the end it will fall below current prices. Honestly I just can't see where we can sustain higher prices in crude without adversely affecting world economies. Really think the Oil bulls are just too bullish. Yes I am a Oil bull based on peak Oil theory on the long term but I just don't see Oil @ $200 etc as I hear folks screaming about.

Job #s

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