Somewhere between now and Wednesday, 800 will be seen if 860 area is not taken out today. Will that do the job?
yesterday, you said 870 i say the line-in-the-sand is 854... that having been said, i'm taking the rest of the day off...here's to tuesday -- should be fun...
Price levels from chart has to be confirmed by the price action. We have seller at 57 this morning blocking the overnight high from printing above 60 round number, confirming the aggressiveness. It is that simple.
The right shoulder is in on the IHS that a spoke of earlier. Next stop 1000 and then 1100 sometime this year. http://finance.yahoo.com/q/bc?s=^GSPC&t=6m&l=on&z=m&q=l&c=
Maybe the seller needed to keep the SPX morning settlement below some level? Thus, now that everything is open, he is out of the way since it was options related?
The lion's are now walking softly and not leaving many foot prints since the hunt expires today. 84 to 86 with a settle at 85 + or - .5 will keep the gazzelles safe.
Next is future options. My sell zone does not kick in until 64-68 area ... So I am clueless at the moment.