Saturday, June 27, 2009

950: most important level of the year.

Well put by Todd Harrison.


  1. 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:
    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.
    3 Charts prove that.

  2. 200k open interest for ETFC Jan calls?

  3. saw that, saw lots for OCT too