ttp://i.imgur.com/mAx2B1o.png spx naz 91 n 02 supp line http://i.imgur.com/Aj4gGvz.png http://i.imgur.com/mAx2B1o.png same line transports hit an all time trendline in jan broke it and fell below,also setting up a hns http://i.imgur.com/NJT5jP0.png http://i.imgur.com/LdpEP5W. png http://imgur.com/UZrbvEr dow hit a line from 2000 at the same time is also setting up a possible hns spx is working a 1814-1735 bell curve and its retraced to the midpoint,its also setting up a nice distribution pattern, hns possibility,furthermore we don't have the fed will back the banks rally mode in the on position any longer, it will take the hypnotized btfd traders a while to change thier psychy's and the opportunity to make money on human weakness will not be overlooked, ........... a stall here and a fall to 1735, could set up the bell below from 1730 to 1670. http://i.imgur.com/T0tMYs9.png
State of the bounce: five waves can now be counted out and momentum is waning, while Ms. Yellen will most likely reiterate the Taper tomorrow......... it all leads me to believe we will get a slight pullback before the next leg up. I'm still long the calls from last week but took on a few puts this afternoon in anticipation of the frightened algos tomorrow.
btfd traders = conditional response mentality. feds know it so they say what the mkt wants to hear otherwise they know the consequences. how long until it doesn't work anymore. I just remember 2008 before the bottom dropped out, this time is no diff.
Tried to buy a minute after open but too much slippage.....grrrrr. I'm looking short here unless another trend develops to upside.
opened a free chatroom if anyone wants to stop by chatroom http://us12.chatzy.com/53841756765613 password is elitetrader