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.

AAPL

The stock I dislike the most AAPL reports today. I have had an AAPL over a month and it has been painful to watch to say the least. Cover here +$30 profit and will not look back on it. If they spike out of earnings that $30 profit could be evaporated and I am not willing to take that chance. Maybe later in the day I will look at some options but they should have a ton of volatility priced in them to make them expensive so we would need a high delta move out of earnings in the right way to make it profitable.

Before Open

Looking at a sizeable gap down BUT there is just one number I am watching 1270 on the S&P. Bulls must close above that for me to say we wont get a size able pullback as it now stands. Friday day can be nullified as just options expiration movement and that's why I always make a note not to trade on those days. GOOG also approaching its 200MA - Lets see if it gets a bounce and how far.

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!!!

RAX

WOW new highs- that one was beautiful