below the 1290 again. Still pathetic volume today so I am not all that confident to say we will push hard on the downside.
1284 should be the next stop if we break low of day
Monday, June 6, 2011
1293
Bulls must close above this number today or the next target down is 1247!!!
Because I don't think the bulls will lay down for us to just dive 50 points I am going to have a upward bias today anywhere around the 1290 level for a buy.
Does it hold for more than just a reactionary bounce, who knows! I think 1247/50 is in the cards now BUT as I have been saying I would be buying heavily at those levels especially if those talking heads start saying it is the end of the world :) (remember they are always long)
Because I don't think the bulls will lay down for us to just dive 50 points I am going to have a upward bias today anywhere around the 1290 level for a buy.
Does it hold for more than just a reactionary bounce, who knows! I think 1247/50 is in the cards now BUT as I have been saying I would be buying heavily at those levels especially if those talking heads start saying it is the end of the world :) (remember they are always long)
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