1349.75

1349.75 is the critical S&P number/ area to watch on the close. Breaking there on the close would lead to much lower levels.

TWM

Taking 80% off my TWM calls- up 220% sweet. Gold down huge looks like it is starting to crack as I have been speaking about.

BINGO!! UPDATE

April 10 post :: Some Projections: These are still in place- Only way they get negated is if we hit new highs- Please note carefully that the past two years the market has peaked in April. April 10 Post: If we dont make new highs to negate the projections set up I will be looking for the following numbers to be hit in the following markets: OIL: 95.25 GOLD: 1504. These are longer time frame projections and I am still sticking to my analysis that in a longer time frame we are still in a bear market that will end sometime in 2016 so we go a long way to go. We are still trading around the all important 1270 level, it still needs to be resolved!!! Update> Oil overnight hit 95!!!!!!!. S&P also down 9 points so we will see if we can get Gold cracking also. Stay tuned

Update

There it goes folks- the russell head and shoulder worked !!! I am racking up on that one. I played TWM long with some calls and they are now ringing more than a double- BINGO. Now what to look for next? that all important 1270 level again now comes into place. range kind of distorted so I will use a range of 1270-1272.

Technicals:1405!!

This morning we spoke about the 1405 number on the S&P as an important number for us to watch. at the close we are where?? BINGO 1405. We broke higher out of the 1405 earlier on but we could not muster up the all important volume and I had been watching if we would fall back at that number or even below it at the close but once again the gamers closed us @ 1405. Where does that put us? Well in stalmate and the closing of Europe today will be used as the disguise for the gamers but here is what to watch. 1) volume : if we break tomorrow above today's highs above monday's volume then we have an upward bias, please note it must be Monday's volume and not today, that's the trick here. 2) we watch for what looks like a bearish head and shoulder formation happening on the russell. These are my two important signals for the rest of the week. We will see soon enough!!!!

1405

well the 1405 was barely hit last week so what now? As most folks know my work is 100% technicals and when I get numbers and we don't hit I use them as failures especially if we try at these numbers a total of 3 times. Today is May Day in Europe and therefore I expect a very low volume day and it might take till thursday to resolve where we are going. In the mean time I see articles on sell in May and go away popping up but we will see if it true once again. Remember the market highs last 2 years have been made in the April time frame so it is not time now to be carelessly LONG.

1405

Again the number higher that comes into play is the same old 1405- watch for that number if we trend high into Friday.