Hi everyone! If I'm not mistaken, 38's completes an RTH gap fill from before the big selloff. Although it doesn't seem like many of you were long today, this seems like a great place to take profit if you are.
spx daily trendlines. dow did not hit the left shoulder, russ 2k did, ndx 52 week high. maybe this is all just a way to skew my thinking and i very well know mkts overshoot. options exp next week. crazy things can happen.
You know Mast it seems to me since both SPX and ES weekly options have become so popular those "normal" monthly gyrations on OP /ex week have tamed down a bit. Most likely we will be sub 14 on the VIX next week so Ive resumed a slightly bullish bias...more long calls and short puts. Im short 1 little ES at 31 so plan to sell a 25 or 30 put against it and "hope" we dont hit 60!
-------------------------------------------------------- One of my reliable sources who occasionally throws me a bone
About the only thingz I can see in those charts are: 1. Price seems to move in streaks of upward or downward bias 2. On a longer time frame, price seems to move inside a channel Everything else looks random :eek:
1st 2 show where the lines came from, last one is a reduced version showing we hit the line from 2000 and 2007 highs at new years(res because it held) the line from 09 low and line from 02 low intersecting at fridays top,the line from 1937 ,broke above in 95,served as supp in 02/03,broke and crashed in 08 ,came back above in mar 13.comes in at 15170 area for a target,the last chart shows a left shoulder , a head and possibly a right shoulder forming...distribution?