OK, got to go. Nothing new to say, bulls must have a strong breakout, not necessarily today, but it's a must.
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seems like everyone is calling this just a dead cat bounce, and being hyper vigilant ready to drop their longs at the first sign of weakness. xlf and nasdaq definitely bringing the weakness today. oil stayed strong, and VIX dropping off a fair amount. i'm watching /hg and aud/jpy, which are staying pretty strong.
will have to wait and see, but i think spy, spx, and /es will be manipulated just enough to keep everyone on their toes...
I would not go short right now..The push is up some more and if 1200 breaks to the up side and holds we could visit the 1230 area which is the top of the SPX channel and lots of res..It may a week to get there and we have to break thru the 1220 area first.IMHO.
I assume you're going long?
If there's a stick save at EOD then bears better watchout.
SPX could be over 1200 then.
Man there's a fierce battle today...
KENA wrote:I would not go short right now..The push is up some more and if 1200 breaks to the up side and holds we could visit the 1230 area which is the top of the SPX channel and lots of res..It may a week to get there and we have to break thru the 1220 area first.IMHO.
Me XMan wrote:I assume you're going long?
If there's a stick save at EOD then bears better watchout.
SPX could be over 1200 then.
Man there's a fierce battle today...
KENA wrote:I would not go short right now..The push is up some more and if 1200 breaks to the up side and holds we could visit the 1230 area which is the top of the SPX channel and lots of res..It may a week to get there and we have to break thru the 1220 area first.IMHO.