Monday, November 21, 2011
Overnight -Pre market
We almost hit the 1190 level I spoke about in the post last night- we hit 1191.50 on the S&P futures and some might call this a hit. For me it must be tested in the regular trading hours but the market often does do what we want it to do. As I have been saying most the the market moves are being down outside of regular market hours because everything is computer traded right now and that leaves the regular guy out of the action.
We will see what today brings, remember it is a holiday week and more than likely volume will start getting lower as we trade into tomorrow.
Sunday, November 20, 2011
1215
No surprise for the last two trading days we have closed around the 1215 area. So fascinating to see technical work and we got to come to reason the markets will do what it will do no matter the news which i call technical noise. Now for this week and maybe as soon as overnight are number to watch is 1190.
1190 is the magic number for the bulls as a lower close would nullify the bull flag on the longer time frame. 1190 is do or die in my opinion and lets face it we only have a month left for the market to try and assume some rally to make it a positive year though just marginal.
Thursday, November 17, 2011
Flush
wow we spliced through 1215- 1211 here this is getting ugly fast. Something is going on this can't just be the computers selling
WOW
Soon after I posted be careful of a break soon we lost 13 points on the S&P. I am looking if there is news but none I could find for us to sell off so hard.
1217 here but 1215 is the number to watch. Wow wild market- two days ago it liked like we heading higher looks like a head fake
No Man's Land
Nothing esciting happening and this is a sure sign of a move coming soon. Don't get too caught up in being bearish or bullish as we can go anyway.
Please Note though we heading lower here bulls still have the momentum till we close below 1190 on the S&P
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