Saturday, June 27, 2009

950: most important level of the year.



Well put by Todd Harrison.
Posted by Erik at 6:55 PM

3 comments:

  1. AnonymousJune 27, 2009 at 8:50 PM

    Hi Erik,
    My 2 cents for this market
    Short-term and must important big picture.
    Close last friday 918.90(-1.36)
    Bulls try to break important range [935-921] but close again below 928 and 935. Vix new lows again lose 1.7%.
    Readjust numbers because spx visited target short-term this week.

    Below 928 I expect [880-893] again.
    Below 935 I expect [790,820] medium term.

    Suport important big picture [880,893]

    Important Monday
    -Resistance Hourly range[921,928].
    -Suport 913 and 896.
    -Control MACD hourly and 913.
    MACD near new sell signal.
    Close hourly below 913 we will see 896 and bears will try to attack important suport [880-893].

    Plan for Monday
    Open more short if:
    New sell signal macd hourly and close hourly above 913 rule number 3,4,6.
    Click to zoom in.
    Enjoy the weekend.
    See the chart where: http://followmarketrend.blogspot.com/2009/06/spx-update-daily-and-hourly_27.html
    Big picture
    SPX - Should be near the top of a medium-long term
    I do not believe in running to 1,000 + on the spx.
    I do not believe that two consecutive weeks will close above 956 in the coming months.
    I do not believe that the spx can make a monthly close above 956 in the coming months
    This is a typical bear market rally the market should be very close to the selloff back again.
    During the coming weeks I will follow this charts.
    Click to zoom in.
    Enjoy
    3 Charts prove that. http://followmarketrend.blogspot.com/2009/06/spx-should-be-near-top-of-medium-long.html

    ReplyDelete
  2. In Debt We TrustJune 29, 2009 at 8:18 PM

    200k open interest for ETFC Jan calls?

    ReplyDelete
  3. ErikJune 29, 2009 at 11:34 PM

    saw that, saw lots for OCT too

    ReplyDelete

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