No, but I did stay at a holiday inn last night. Numbers are from spy option interest further out IHS projects to 1140 if it plays out
God forbid, if we fall right back down to 1050 tomorrow, it will trip a lot of traders. On that note, geez, who thought we would get sucha strong bounce today?
Amen brother. I was expecting today to be up - but 1/2 the range that actually played out.... wtf was that?? We are so close to the mother lode of buy stops above 1099... I think it's just a matter of time until we get there.
Yes, a butt load of stops I would imagine. However, that's already sooooo obvious to everyone, wouldn't ya say? But then again, who knows for sure in this friggin' market. At the same time, I wouldn't be at all surprised if we do indeed drop back down to 60-ish tomorrow.
If you look at all of the long trends of late on the 120 min (all sessions) ... notice that the 1st PB is very sharp and deep... then it rallies like a mofo... if you use a simple 100% projection of the 1st PB on our current trend you get 1108. Not saying it will happen - just throwing it out there... 1094 was a tough R.. and it stalled out at that level today.
1125@ a mininum next week hopefully it inches up. more profits on stocks with grind ============ the psychology of an up 2% market works like this: most traders think its too high so they wont go long. if the market went up .5% im sure most traders would pile in long. but fear of a top and strong moves purposely deters most long buyers. thats why everybody will miss out on this rally. the only people who willl be on the rally are crazy people and people in the money. not many of those. http://finance.yahoo.com/indices?e=futures
interesting analysis, thanks for sharing. Threads like these are why I love this place. As for your prediction, good earnings reports and a breaking 1100 spx will bull trap enough people to start going long. I really do hope we reach 1125 spx, i'll be shorting.